Yes, you’ll be dealing with lawyers and accountants. But this guide is going to focus on some other things you should be doing before launching a business. Whether it is something you want to do in five years, or you’ve already started the process, dedicating some time to following these recommendations can decide whether your venture flops or flies.
Get your feet down the trenches
Talk to real people who are in the business you want to go into and build relationships with both entrepreneurs and workers at every level in the business. Before you launch a business it’s important to talk to people who might be your customers and get their views and opinion. Test your ideas if possible. If you want to open a restaurant, go dine at places you hear people talk about. Appreciate what makes them shine, and imagine what you’d want to do differently.
Tap into your relationships
Chances are, you know more people than you think you do. Who you don’t know, your friends may. Cultivate your relationships, and make note of people who can be considered ‘influencers’ or press contacts. Share your story with them, and learn from theirs.
Become part of the conversation
Use social media outlets to zoom in on certain groups that you believe your brand can particularly appeal to. Discuss what they discuss, know them intimately – what makes them tune out and what tingles their fire.
Be adventurous, not insane. Seriously. Your ability to prepare for that which you may not be able to prevent will be crucial to making it through the first two years. You will be thrown curveballs from every direction, and it may feel like you’re at war, so armour up with comprehensive business insurance.
Keep your eyes open
Keep your eyes peeled all the time for talented people who you resonate with and want in your dream team. Keep them in mind, even if you can’t afford to pay them yet. Invest in those who you believe you can collaborate with.
Did we kindle your fire? Remember, the most important thing is to take the first step.