If you’re starting a new business in 2019, there are a few things you need to do. While starting a new business can mean more freedom and the ability to choose who you work for and when you work, it’s also a lot of stress- after all, we all know the stats around the first five years of any business.
If you’re determined to launch a successful business, here are some top tips to help:
Ditch the excuses
While many people want to become a business owner, very few actually do. That’s because they’re afraid of failing. From time to money to family commitments and other responsibilities, there are always excuses for not getting your business off the ground.
The best thing you can do? Ignore the excuses. While it’s normal to worry about the risks of owning a business, you also shouldn’t let these worries hold you back. Speak to other business owners and mentors about your worries. And find solutions to your problems instead of letting them hold you back.
Let’s face it: You need to be organized in order to run a business. And that means getting together all the things you’ll need well in advance. For example, this could include digital printing flexible packaging. Or if you’re starting a business related to food, you may need to order custom frozen food packaging or even nutritional supplement packaging.
You’ll also need to hire staff members, create a business plan, and consider your finances. This could mean taking out a business loan or line of credit while you get your business started.
Don’t quit your day job
If you can, the best way to launch a business is while you still have a 9-5. This means that even if your business is only just breaking even, you’ll still be able to pay for all of your living expenses. Ideally, by the time you quit your 9-5, you’ll still have some serious savings behind you so you can focus on the business and not worry about paying your rent or mortgage.
Build the right team
When you’re growing your team, you should aim to hire the smartest people possible- the goal is that when you’re sitting in your meeting room, you’re the dumbest person in there. This way, you’ll get the best advice possible and can ensure your business will grow.