When starting out in business there’s a great deal of talk about everything you need to do. Whilst there’s no doubting that your to-do list will be longer than the latest Star Wars film credits, it can be helpful to turn this approach on its head slightly.
Instead of focusing on what you should do, what are the things you should hunt down – what things do you need to find?
On the Hunt: The Right People
Whether you’re going to be a sole trader or know you’re going to be employing dozens, your first mission should be to surround yourself with the right people. It may be a case of finding a business partner who balances your skills and aptitudes. It may be getting a mentor on board, or a business coach. It may be tapping in to local commerce opportunities and networks.
Finding inspiring and motivating people to surround yourself with will transform your early days in business. No matter what your enterprise, you need to find your ‘team’. These are the people who’ll keep you going when your own motivation gets sluggish, see things from a different angle, and help shoulder the load.
On the Hunt: The X Factor
Any Joe Bloggs can start up a new business. Not every Joe Bloggs can make it a success. One of the key differentiators between the success and failure in business is identifying that niche, that X factor, and exploiting it. You can’t be ‘run of the mill’. From your name through to what you’re actually doing as a business you need to be unique. Find what makes you so.
On the Hunt: The Facts
Far too many businesses start up based on passion alone. That passion is essential but it’s not the true definer of success. Facts are. Therefore you need to be like a treasure hunter possessed as you approach market research. You need to drill down in to the data and find out exactly what works and what doesn’t for your competitors, what costs you’re going to face, and put numbers to any barriers or obstacles in your way.
On the Hunt: The Right Software
It doesn’t matter what industry you’re in, or whether you’re one person or 100,000 – you need the right software. Software is how you utilise the digital marketplace to your advantage, cut time, and reduce time-consuming tasks. For small businesses their primary focus needs to be on having as much as possible in one place. This means getting the best accounting software on board.
On the Hunt: Find the Work
It’s great having the ideas. It’s awesome getting excited about branding and web development. It’s wonderful when you’re in the start-up phase but sooner rather than later you need to actually bring in the work. Don’t put this off thinking you’re not ‘ready’ – tweaks and changes can be made as you go, but get going! Ideas only take you so far, now make it a reality.