5 Things to Remember When Starting Your New Business

Having your own business is exciting, fun, exhilarating and rewarding; however, a great business idea and a business plan is not the only recipe to a successful startup. Any wise entrepreneur should look much further ahead and try to avoid the most common mistakes made in the early stages of business.

5 Things to Remember When Starting Your New Business

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It is so easy to lose sight in those early days; by positioning yourself and mapping out those initial stages, you can be sure to save time, money and start up pains.

Here are a few tips to guide you on your way and help you avoid ‘Start up Syndrome’.

(1) Take Your Time

As soon as you recognize your business idea, you must never just run in there and take the bull by the horns. Before you make your move, consult with professionals in your industry and talk to friends and family about the feasibility of your business idea. You should never overlook the need for objective criticism from those more experienced than you. It is better to fail to start than to start to fail. Question the viability of your business idea before you actually take any practical step and ALWAYS ask advice if you are unsure.

(2) Don’t Lose Focus

It’s better to do three things right than to do ten things half right. When you’re starting out you need to set priorities and goals for yourself and your business. If you become too innovative from the outset with almost all the business processes before your business is even off the ground you will end up having a brand new set of ideas for virtually anything that comes your way and no action plan or results. Too many ideas – even good ones – may slow your productivity down and prevent you from reaching your goals. Aim, Set and Fire!

(3) You Aren’t the Only One Who Can Do It!

Many entrepreneurs are likely to fall into this trap: the only-I-can-do-this syndrome. Just because you have a good idea it doesn’t mean you are the only person on the face of the earth who has to supervise its realization from start to finish. You need other people to split your goal into easily achievable chunks.  By properly delegating responsibilities to carefully selected individuals you can expedite your journey to the business goal you have set for yourself. Never be afraid to ask for help.

(4) Stop Re-inventing the Wheel!

If there is a simple way to do something, then do it. Don’t map out the next grand master plan for the simplest of tasks. Many business people often lose sight of their goals getting bogged down in the simplest of tasks such as administration, record keeping and invoicing. We live in the digital age. Make the most of software and tools available online to help you with your day to day tasks. Embrace it. Don’t be dragged kicking and screaming into the 21st Century!!!

(5) Never Be Afraid to Follow Your Dreams

With love, care and attention, your business will grow and flourish. If you have an idea or a dream, then don’t be afraid to start researching and planning and aiming for whatever it will take to get it off the ground. Being scared of making mistakes often costs some people a lifetime of wondering and wishing. Wondering and worrying never made anyone rich, or any business successful. Deep down, you will find the correct path for your business, so start turning those dreams into a reality.

Written by Caroline Baxter
Caroline Baxter is a serial Entrepreneur, Business Start Up Coach, and recent bestselling author on Amazon. Having started her first business aged 24, she now has multiple businesses in property, the motor trade and online and offline business consultancy. Caroline is now starting a series of live training events to support entrepreneurs looking to plan launch and grow their business