So, that’s it: You’ve decided to throw the towel and quit your day-to-day job. You simply can’t deal with the pressures of your workplace and especially working for someone else anymore. So during the last few months, you patiently collected ideas and considered your chances. And finally, you’ve come to a conclusion. You don’t mind working hard, but you want to invest your energy in something you care about. You want a business you can respect and support, your own business. After all, you think, if your boss could do, why not you too? And you’re right to cultivate positive thinking, as launching a business demands a lot of motivation. There will be good and bad days. You will discover new levels of stress you’ve never experienced before. But, at the same time, you will be free of the usual work-related stress. The entrepreneur’s stress is something of a different nature. However, motivation is not the only weapon you need to tame the new business pressures. You need allies you can count on every step of the way. You need people who will believe in your business nearly as much as you do yourself. And you need them as soon as possible if you want to survive on the market.
Find an investor who stands behind your idea
Let’s be honest from the start: Launching a business doesn’t come for free, especially if you want to establish yourself as a company owner, instead of the entrepreneur of a no-team organisation. If you’ve worked as a freelancer in the past, you’ve probably noticed that your start up fees were very low. But starting a small or medium-sized company will require immediate financial support to establish your office, team, tools, and IT/production solutions. Unless you’ve recently inherited a large sum of money, you will need to pitch your business idea to investors and lenders. Banks will require a detailed business plan and strategy to consider your application for a commercial loan, as well as information about your financial management history. Professional investors tend to focus on your presence and presentation to decide whether they want to support your business. Pitching your idea shouldn’t demand more than 10 minutes, as investors don’t have a lot of time for each company. Make sure to keep it concise while creating an engaging storytelling process. Investors, indeed, have little patience for lists of unconnected facts. And finally, when you pitch, you need to explain to the investor why your offering is unique. Investors want to make a profit from your company too, so it’s essential they understand how they can do so.
Find an expert who cares about your needs
You have a brilliant business idea, but starting a company doesn’t mean that you should hold every position inside the team. You need to look for experts to provide the guidance you need in the areas you know least. For instance, accounting, financial advising and legal contracting are three the main areas where new entrepreneurs look for the support of knowledgeable experts. Firstly, a specialist can avoid a lot of mistakes while identifying the best solution for your business. But secondly, it means you can focus on what you do best and leave the management of administrative tasks to them. However, while errors are less likely to occur, professional negligence solicitors have warned about costly professional mistakes. Don’t worry, though, if your expert hasn’t got your back, you can sometimes consider a negligence claim to recover your loss.
The right team for your business
When you’re ready to grow your business and work with a team, you might be faced with the difficulties of recruiting. First-time business owners often try to manage their business activities single-handed. In reality, if you want your business to survive on the market, you need to think about staffing options very early. Whether you need to hire new employees or to outsource will be determined by comparing the availability of skills on the market, their costs, and how long you need specific skills for. For instance, if you’re working on a one-off project that requires additional technical knowledge, you might consider looking for a contractor. For small tasks that don’t require day-to-day management, you can outsource to an external provider. Regular work that needs a specialist in-house, from marketing specialist to receptionist can be fulfilled by permanently hired staff.
Reach out to your audience
Do you know how many companies are created every year? No? Your audience doesn’t know either because most of the companies fail to promote their existence, and consequently, can’t attract enough customers to survive on the market. When you are new to the market, you need to make a lot of noise to be noticed. How does it best work? For a start, you might not need to spend all your budget in promotional activities. Instead, you can work on an engaging video presentation of your company and your services, which you can share with the relevant audience via YouTube advertising, for example. The more appealing the video, the more chances you have to create a viral response. Additionally, you can create online touchpoints such as social media campaigns, a dedicated landing page, and even display advertising. Make sure to add an offer your first customers can’t resist!
Get someone who will help you grow your business
Promotion is one thing, but growing your business is another task for which you will need the services of an expert growth hacker. As Neil Patel explains on his blog, a growth hacker is not a traditional marketer. It’s someone who can combines marketing strategies with engineering processes, as part of creating growth for the business. In other words, you need a creative person who can also interpret data and act on the knowledge. Additionally, as you attract new audience groups; you will need to offer new content, which can mean working with a copywriter for the duration of a project. Copywriters are essential in the creation of compelling but also researched copy, meaning that your content is useful for your audience and for SEO crawlers too. Ultimately you can’t expand your online presence without engaging content.
As you have guessed by now, no successful entrepreneur is a self-made individual. You need to find allies to invest, secure and grow your company.