Business is tough and to make it through your first couple of years you need to stick to a few golden rules, here are mine from my 20 years in the financial business and what I’ve learned from starting my own business.
Believe in Yourself & Your Work
Having a vision is one thing but to make a business successful you have to believe in yourself and your business. This will be the make or break of your business, this will help you to push through when things get tough.
Build Your Confidence
Being a confident businessman or woman may be the key to succeeding. It’s all about building key relationships and staying in charge and this is only done when you’re confident in what you do and the business you have.
Have Reserve Money for Mistakes
Starting up a business isn’t cheap and the majority of people would have put their entire life savings into making it work. There are naturally going to be bumps in the road, whilst you figure out what works and what doesn’t so don’t pour everything you have into your business, keep some reserves aside for any hiccups.
Always Stay in Control
Always remember that this is your business and your livelihood so don’t sell it or compromise for a quick buck. Once your business starts to take off, you may get offers from investors, shareholders and others who want to get in on the action or have their say. Remain in control and don’t forget your core values.
Always Half Your Budget
This one is simple, whatever budget you set yourself for certain tasks, half it immediately.
Running a business isn’t cheap and you need to keep an eye on your finances at all times which is why I live by the rule of setting yourself a budget and then trying as hard as you can to cut it. Only when you’re a success, you’re in the green and you can afford expenses you can splash out a little more.
Embrace the Web
The web is possible the most important place you need to be, so embrace it and get the help you need to make your business boom online. Having an online presence whether it be a website or social channels, can be the make or break of your business so work hard to make yourself stand out.
Don’t Lose Yourself
Through tough and stressful times, it may be tempting to throw in the towel and give up, but just remember why you started this, what your goal is and who you are.
As your business grows people will try to have their say and influence you but stay true to yourself and your business and you’ll be fine.
Late nights, tight budgets and missing family events, it’s all part of building your empire but trust me, one day this will pay off and you will be able to reap the benefits tenfold.
Be Nice & Appreciate Help
People aren’t always out to get you, strangers will want to help and you will receive good will gestures for no reason. Thank your vendors, be nice and make good relationships with people.
Remember it’s a Marathon Not a Sprint
Building a business takes time, so be ready to be in it for the long haul.