5 pieces of advice as you start a business

Most start-ups tend to begin as sole-proprietorships or business names, before growing and evolving. This list is curated specifically with sole proprietors in mind, but it can apply across the board.

These are things that are usually learned as the business grows, but now you’ll have them given to you even before you start.

With them, you’ll be better prepared than many.

Your reputation can, will, and most likely already does influence the public perception of your business. Your image is your business’ image, whether you’re a sole proprietor or in a partnership.

Even just starting out, there might be a time you don’t impress a customer. Maybe it’s just a bad day, whatever it is, your business cannot take any hits. Always rise to the challenge. Defend what you’re selling, the things you are offering the world. One bad word is enough to crumble your growing empire, so never allow somebody to doubt your business.

2. Expense Appropriately

“You have to spend money to make money.” That’s something we must have heard at least half a million and ten times. And yes, it is true. You’ll need to incur costs to incur profits, but that doesn’t mean you go spending everywhere. You need to cater to your expenses, to design them so they had the most use to your business and will help you maximize your profits. It’s not just about spending money to make money, it is exactly about spending money reasonable to avoid spending your business into bankruptcy.

3. There are No Cheats Around the Bad Times

Like seasons, like how the weather fluctuates, the same will be the case for your business. You won’t get 100% wins because you watched business news religiously, or binge-read Forbes Business like your life depended on it. There will be not-so-successful times, and you have to accept this, and prepare. You cannot cheat the bad times, you can only triumph over them.

4. Develop a Profit-Making Mindset

What is the one thing every business in the world has in common? They all need to be profitable. Without profits, the best you could hope for is a break-even, which isn’t great if you have no hope of improving you profits. Get into things with the resolve to sell what you’re offering, and you’ll find yourself in a much better headspace.

5. Actively Connect with Your Client

It doesn’t need to be said just how important your client base should be. They are who your business exist for. My advice to you is that you let them know. Connect with them with as many means as you can manage. Communicate and correspond with the people that will use your product, patronise your service. It is the best way to build customer loyalty, and that would take your business into many levels, the ones far above your head.

There you go, five pieces of advice that took some not-so-great experience, and nasty trial and errors to finally understand. I’ve just handed them to you on a silver platter, enjoy.

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