The common struggles of new businesses are the best-kept secrets. Go to any social media platform, and you can be fooled into believing that having a business is a walk in the park. After all, there are millions of videos of successful entrepreneurs sharing how they started in their bedroom or garden shed and now have a custom-built studio or a warehouse that could rival your local B&Q. Its not to say it isn’t true but to highlight the everyday struggles most new starters have to overcome when establishing their business.
Tips for New Businesses Developing a Winning Business Strategy
No one wants to do a business plan. It is often seen as a waste of time. However, it helps you think about the business regarding goal setting, financial projections and marketing. Whilst you’re getting familiar with the business jargon, it should have you thinking about how you will juggle all the demands and whom you will hire the first chance you get.
A good business plan can help you to attract suitable investment and secure finance, but it will also be a good lesson in discipline. Having to take the time to think ahead and plan out what you want is along the same lines as you taking the time to jot down what you are prepared to compromise on and what is an absolute no.
This is the early stages of putting in place your HouseRules.
Navigating the Complex World of Compliance in Your New Business
Set up in business and enter a world of legal obligations, requirements and regulations. From how you will set up as a business to ensure you have the correct licenses and permits, and don’t forget the taxman!
When you make an oops moment, all is not well with a simple apology. You could be subjected to fines, legal action, and a smeared reputation. Now with a business, you must be mindful of not only your p’s and q’s. When you take on a team, you’re also responsible for them. You have to have a structure in place to monitor compliance.
Once again, HouseRules are essential as you put your policies and procedures in place and build the right internal community for the business of your dreams. Whilst it’s good to have an accountant or lawyer give it the once over. To save on the enormous invoices for what is effectively administration work, you want to ensure a framework that works for the business, the people in it and the powers beyond.
Stop struggling and being in constant frustration
Let’s talk so you have get the space to get the woes out of your head and off your chest. One of the few times you will see me taking active notes so you can receive a personalised report to guide you through to brighter days.
HouseRules are the Secret to a Powerful Branding Strategy for Your Start-Up
Knowing what and how to put out into the world requires branding. Having been fortunate enough to be caught on the radar of a highly talented Brand Strategist, it would be a life of bliss if everyone had a Brandmother in their life.
Finding your business is like discovering yourself when you’ve finally moved out of your parent’s house. Where do you want to live, and what people and amenities do you prefer to have around you?
You do all the soul-finding with the brand and how to appeal to your crowd with your branding. But don’t miss out on the HouseRules. It’s not only about the outside. What’s going on inside matters as well. Set the standards internally to attract the right individuals to join your quest. You also want to clarify to those externally what you’re about if they would like to support and collaborate.
How to Hire the Right Employees for Your New Business
One of the biggest struggles for new businesses is hiring and retaining the right person for the job. So set aside that issue of looking for Mr/Ms Right or that unicorn. What is often overlooked is that you already have your first recruit…you!
Once they fail to rope in their family, new business owners seek advice on recruiting, interviewing and managing people and their employee benefits. Creating a positive culture is essential, which means being ethical instead of economical with the truth. Don’t speak about competitive salaries or opportunities for growth if there aren’t any.
Building a robust internal community is crucial for the success of the business. You don’t want to spend time weeding toxic roots, so be transparent with your policies, practices and processes.
There’s much information within easy access for you to read and implement from government websites like Gov.UK and the US Small Business Administration are pretty comprehensive with the 101 of business. Then you have the faithful YouTube, which can help you find the style and more easier to absorb information, along with links to free resources and trials.
Dare I say more interactive methods for a person starting on this adventure with a vast amount of knowledge so easily accessible? However, sometimes you want to cut to the chase and converse.
Your time is precious, and that is not taken for granted here at CAS Ltd. So to show appreciation and to demonstrate, The Ethical Strategist is here for the smaller business; don’t struggle in silence. Book a 30mins Sip & Chat on the house.