Set Up

5 must-dos when starting a business.

Saturday, June 15, 2019

5 Must-Dos When Starting a Business.

So you want to start your own business?! But it seems really daunting and you don’t know where to start...Whether you’re looking to start a cleaning business, a plumbing company, an online store or even a vegan bakery, there are some common things that are essential to not only running a great business, but building a great life…

1. Get the right to advise early.

We have learnt this the hard way, starting many a business on the wrong advice. There is a brilliant saying that goes something like 'It is great to learn from your mistakes, it’s even better to learn from other people's mistakes!' So we have made a lot of them for you haha.

Make sure you get the core things right with the correct advice early on so you are ready to open and promote your business, manage your business and cash flow, then scale your business when the time is right. It is vital you are ready for all of this whilst ensuring you don’t get bogged down in what is not needed or is fluff as we call it.

2. Hit the ground running.

When starting your business there are a few basic things you need to have in place, and you need to be focused on bringing in cash in the early stages as you build a brand. So READY (build the idea), SET (get all your business details, branding, email, website etc in play), GO!! (Get out there and build your business and your dream life!). Hit the ground running and bring in business; don’t waste time on things that aren’t needed or should have already been in place.

3. Spend most of your time on IPA (Not Indian Pale Ale)… Income Producing Activities.

We hear it all too often that tradespeople and new business owners in general, get bogged down in paperwork, updating software, finding their login details, or updating their website. This time could be better invested in bringing in income or spending time with the family, or taking a well-deserved breather (yes, you can and should find downtime). Ask yourself, is this an IPA or directly related to an IPA? If not, seriously consider whether it is necessary for you to do this or whether it could simply be delegated.

We have designed the business tools and systems so you can go out  and focus on Income Producing Activities...we’ve got you!

4. Find balance early (whatever that looks like for you).

We have been in business a long time and one of the most common things we hear from people starting a business is “I’m just going to go hard for a year or a couple of years. Then I can take the foot off the pedal and spend more time with my family or relaxing or whatever”. Every time we see this it's almost always the same result. They go hard and  they're bringing in good coin, but are so flat out they don’t know how to scale and delegate the responsibilities within their business. If they do try to delegate, often it’s in the wrong areas or the wrong team, and they’re forced to work even harder to compensate. The moral is, go in early with a plan and allocate blocks of time you will spend with family or friends and make these non-negotiable… you and your family will thank us for this later.

5. Don’t listen to the naysayers.

No doubt you have discussed your business idea with people and received a mixed response. At least one friend or family member has tried to talk you out of it or told you it's a bad idea. You have to remember most people don’t want to take risks, they want to stay safe. You only need to ask yourself this, “Have they started and run a successful business? Have they created a life that would inspire people?” We think not.

“To accomplish great things, we must not only act, but also dream; not only plan, but also believe.” Anatole France 

To start your own business and build your dream life you have to believe in yourself. Then go for it, take the risk, jump and build the plane on the way down. We are here to help you build the plane!!

What else can we build for you?