Important Tips to Successfully Start Your Small Business (Unconventional Tips)
Do you have a new project idea and want to start it now? Do you want to fulfill your dream of becoming an entrepreneur who controls his decision and controls about everything in business? Do you want to have additional income through your own project?
If your answer is yes and you are looking for advice and guidance, then you are in the right place, but before we start you should know that you will not find here just general advice such as:
- Study the market
- Make a business plan for your project
- Focus on digital marketing
And other common information and advice, which you may have heard hundreds of times before, what you will find here is information and advice that differs from many other sources.
It is these tips that will help you if you are going to be successful, or you will make a lot of mistakes because of which many of the founders of small projects do not succeed.
That’s why you should clear your mind and read every word of this guide. It is full of valuable information that deserves your valuable time.
Important tips for starting your small business
One of the most important features of successful entrepreneurs, especially small business owners, is learning by experience and continually correcting the path.
But the more you take correct decisions from the start of your project, the more you can shorten the road. Here we have gathered for you the most important advice to start your small business from the following sources:
- Our personal experience in entrepreneurship.
- Relying on the best books on entrepreneurship and enterprise creation.
- Searching the best international sources for entrepreneurship.
1- Start by selecting excuses to face them
This step is the most important before you start implementing your project, so I want you to think well and answer the following two questions:
- Why do you want to start this particular project?
- Why shouldn’t you start your business?
Let’s start with the first question, why do you really want to start your own small business, think well and be honest with yourself, let me give you some of the answers you might be thinking of.
- You heard one of your friends talking about the idea of this project, and you want to make an income so You said to yourself, let me try.
- You want to make additional income in any way, and this project is the best idea you’ve found.
- You are working in this field, and you really see that there is demand in the market, and you want to take advantage of the opportunity and establish a project that generates good income.
- You want to prove to someone in your life that you are the only successful entrepreneur.
- You have been dreaming of your project for a long time, and you want to provide a good service to help a certain group of people and at the same time make a good income from it.
- You are tired of your school or career, and you want to be an entrepreneur and this is the best idea that You found for you and your potential.
- You want to start a business next to your studies or work, to learn and gain experience by experimenting with an idea you are currently interested in.
As you can see there are justified real reasons, and there are reasons that are not strong enough to think about establishing a project, no matter how small, you have to be sure that you really want to build your own project because you believe in it and you have a strong goal that you want to achieve.
This goal is what will make you stand up to the obstacles that will stand in your way, and make you patient and endure until you reach your goal.
Let’s move on to the second question: What might prevent you from implementing your project, would you have to sacrifice a certain thing in your life in order to start your project?
Let me give you some examples:
- You will have to put all the money you have in your project, and this is a great risk in the event of any loss?
- Will the project affect your studies or your major work significantly?
- Perhaps you will have to sacrifice a very important part of your current family life.
- There may be a problem with the marketing process that you are not currently sure of.
I want you to think about every excuse or reason that might prevent you from carrying out your project, or it might hinder you, either you will overcome these obstacles and find a suitable solution for them, or you will now stop starting the project. Just this simple!
As I indicated earlier, this step is the most important because it is the infrastructure that will make you build a successful project. It may seem simple to you, but more than 25% of small projects fail because of not taking this important advice.
2- Take advantage of everything around you
A successful entrepreneur should be like a sponge who sucks everything around and takes what works for him, and this is what you should do with everyone you interact with on your small business trip.
Your friends; Listen to their advice and observations and focus on their reactions when you tell them your thoughts so that you can benefit from them, so you may discover that one of your thoughts is bad and will lead to counterproductive results.
websites; As long as you are here reading these lines, this means that you are searching for information on the Internet, so write down everything you find useful and has a relationship with your project so that you can benefit from it later.
Consumers; As long as you have a project idea, you definitely have a specific category to target, focus on it and collect the most information about it through all sources and your conversations with them, whether on the Internet or on the ground.
All of this information and notes will help you write a professional marketing plan for your project, which will help you get started and achieve exceptional results.
3- Be different from what the market offers
One of the most important secrets to the success of any small business is to provide a solution to a problem in the market or to provide products and services in a slightly different way from what is available.
This applies to all types of projects. Even if you are going to open a simple store, you should always be different, offer new solutions and ideas, let me give you some examples.
- If you were to open a simple store. Why don’t you provide home delivery service?
- If you offer a specific service such as maintenance. why you don’t provide your customers with wholesale prices for the new parts they need.
- If you are going to open a company to provide design service to customers . Why don’t you agree with a press to provide printing services to your customers at good prices, so that the customer finds everything he wants in one place.
Note that in the previous examples we searched for the customer’s convenience and money-saving for him, and this is one of the strong reasons that may make you different, in addition to the quality of products and services that you provide.
4- Start with the simplest possible version of your project
Sure, you have a goal and a complete view of your project that you want to implement, but my advice to you, which you may not have heard before, is to start with the simplest possible version of your project.
Do no provide all the design services at the beginning, do not offer all the products you want to sell from the beginning, just start with the simplest things.
This has many benefits, including:
- Reducing the size of losses if they occurred in the beginning.
- Providing enough time to test the market in a practical way and know the types of obstacles that may disrupt your business.
- Quickly correct the project path in case of any problem, because the size of the project itself is small.
- Reducing the size of administrative problems as much as possible in the beginning, until a good management system is established.
This advice to start any small project is a secret of success that many do not know, so make sure to implement it and you will see the results yourself.
5- Prepare your budget well
You know very well the importance of using capital well in the beginning of your project, so knowing all possible expenses is necessary and you should study it carefully.
That’s why I want you to count all the expenses, like:
- Expenses for products and raw materials
- Operating expenses (electricity – water – internet)
- Any mandatory fees (licenses – permits)
After you have calculated your budget well, multiply it three times, yes at least three times, you do not know what will happen, and you will inevitably encounter problems and obstacles that were not completely taken into account.
That is why it is better to have a budget that is greater than what you need. This is how you start while standing on solid ground and ready to face the market.
6- Imagine that you started your business and suddenly you no longer have any money
I want you to imagine that you have already started your business, but after a while, it will no longer bring you income as you started, or maybe your earnings forecast was wrong.
In this case, what will you do? How will you be able to manage your project and your personal life, especially if the project is your only source of income – which we will talk about later?
You must be prepared for this situation with a clear contingency plan, for example:
- Do you have an additional sum of money that you can count on in this situation?
- Can you easily stop your business and sell any products or assets you rented so that you minimize losses?
- Do you have a specific asset (car – house – stock shares) that you can rely on in facing this problem?
A lot of small projects fail in the first three years of their establishment, and the global percentage is more than 50%. This is a fact that you have to face and I think you know this well through your study of the market and your personal experiences.
There is never a shame to fail, but the disadvantage is that you are not prepared and make losses as minimal as possible, just as you must also be prepared to be patient and endure obstacles.
Some projects may lose at the beginning, but because you have studied the market well and believe in your idea, you know that you will achieve profits in the future, so you must have an emergency plan that enables you to bear that period.
7- Own another source of income
If you are an employee or have another source of income that you depend on before starting your business, my advice is not to leave it, especially at the beginning, so you may need this income to manage your personal life at the very least.
Your income from your job may also help you in the event of problems in your work – as indicated in the previous step – and even if you lose your business then you have another source of income that you depend on.
The idea here is to reduce the risks as much as possible to start your small business and you are more confident about yourself and your financial capabilities, this will reduce the pressure on you at the beginning, and also will make you try new ideas with more courage.
8- Don’t be shy
Talk about your business everywhere, if you are shy and afraid to talk to your relatives and friends, how will you talk to ordinary customers.
If you cannot convince someone you know well, how will you convince a stranger from you? You must not be shy and be prepared to do everything possible – provided that it is of course a moral act – to promote your business and bring in new clients.
Even if you hate selling or negotiating, you must pressure yourself and learn these necessary skills in order to help your business succeed.
This is a tax for owning a small project, which must do everything to succeed as the father does with his son, as he is doing everything in his power to provide everything he wants even if he presses himself sometimes.
9- Take control of your passion at work
It is true that you need a strong passion and a desire to achieve success at the start of your business, but you must control this passion.
Many small business owners leave their passion to control important decisions such as:
- Dealing with employees.
- Prefer some products and operating materials over others, contrary to what the market says.
- Stick to some misconceptions.
- Not to use experts and specialists.
You have to rule your mind and study everything around you. How many owners of a project have lost everything because of their dependence on passion in dealing with employees?
Or because of his attachment to a specific idea in marketing, which was wrong and then caused the loss of all of its customers, or its association with a specific product and its insistence on presenting it to customers despite the fact that it proved to be unsuccessful in the market.
Success in any new project relies on planning, imposing the worst possibilities and acting on them, then comes prioritization and expense management, and then understanding the types of clients and ways of dealing with them.
And after all, that, remember to enjoy yourself. Yes, enjoy as much as possible. Despite the problems, obstacles, and bad situations with clients that you may encounter, you should listen.
There is an extraordinary pleasure that you will feel when you set a goal and reach it despite all the obstacles. This pleasure deserves to tire for it and when you feel it, then you are a successful entrepreneur.
I wish you luck, and see you next!
Thanks for reading