Sunday, October 26, 2014

You're business...You're fired!

The start of The Apprentice has put us all into a business-frenzy, so what's better than to suggest our top tips for starting your own business!

1. Decide on what you want to do. 
This might seem a little obvious, but it's important to be driven and love what you want to spend many hours doing. If you are starting a business with little capital, you might be working all hours without paying yourself, or working another job trying to find time for your business. If you don't enjoy what you are doing, trust us, you won't want to be doing it at 9pm at night!

2. Think of a name.
A name is important for a business or brand. It needs to be rememberable and catchy, as it's the first thing that people will think of if your business takes off. In addition to this, if you brand starts to take off, you need to be happy to stick with the name for the long-term, changing names can be a little unsettling for your customers or followers.

3. Organise your finances. 
Now this doesn't mean have lots of money - let's be realistic. Many businesses have started with low, or next to no capital. Sort out your lowest running costs, try to do as many things yourself such as basic web designing, social media management, blog updates and running your business where you can as this will keep your overheads down until you start to make a profit.

4. Know your customer.
Starting a business is essentially about working for yourself and creating a profit so you can pay yourself and any staff that you might take on, therefore in order to do this, whether you are selling to consumers or providing a service to the public or businesses you need to know their needs. Your business needs to give your customer what they want or else they will go elsewhere to find something better.

5. Know your market.
Although not essential, it's quite important to know the area of business that you choose to go into. For example, if you are a farmer that is starting an online fashion boutique, you'll be at more of a dis-advantage than a fashion stylist who knows all of the current trends and industry contacts. Researching your field and getting to know the influential people, products and brands within your market will give you an understanding of the competition you are up against and how to stand out from the crowd.

Has The Apprentice inspired you to get you're own business going?
Look out for more of our business posts coming soon....


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