Ever had a great idea for a product or business but that's all it ever was -- an idea?
Taking a light-bulb moment and turning into a real business takes guts -- and the fear of failure is probably what stops most people from taking the leap.
Preparation can make the jump far less terrifying. Take it from Beck Wadworth, who successfully launched the coveted stationery brand An Organised Life in 2013. At 25 years of age she took the plunge and learnt as she went. Here are her six top tips to consider before you launch a startup.
Launching a small startup company is a daunting yet exciting experience. Take it slow and build a brand up step by step, product by product and goal by goal. There is so much to learn along the way with a startup that patience is definitely needed. Take your time, do your research, make calculated decisions and never rush your ideas.
Identify Your Flaws
There is a lot involved in establishing a small star up, from branding and design, sales and distribution. Take the time to identify your flaws. Although it can be a confronting thing it can help you minimise your mistakes and take your business to the next level. If maths and numbers aren't your thing get someone on board whose strength is your weakness.
Make Realistic Goals
It may sound simple but having goals in life and business makes you more productive, motivated and organised while helping you get one step closer to your dreams. Set a variety of goals -- long term, short term, financial, creative and everything in between. It's the most satisfying feeling being able to tick that box you have worked so hard to achieve even if it's the smallest goal, for example, bringing a new stockist on board in a new region, or reaching a new financial or social media target. Having goals also allows you to look at where you have come from and what you have achieved -- as well as where you want to be and how you can achieve it.
Take Advantage Of Your Strengths
Everyone has strengths -- embrace them. Identifying these skills will enable you to hold a point of difference from your competitors within the current market -- and recognising your strengths will enable you to grow your brand naturally.
Trust Your Gut
A lot of people will give you advice. While you should listen and take it on board -- don't feel afraid to politely decline and follow your gut. Consider if a suggested path is causing the business to stray from conveying the true brand message -- only you will know. No matter how amazing the opportunity is, if your gut is saying otherwise you should never take that risk. Always hold the same mindset when it comes to developing new products and ideas -- have 100 percent belief and trust in your concepts before deciding to take it further. Trusting your instincts is vital when it comes to successfully running your own small startup.
When you launch a small startup business you often have to have a full time job to support your dream financially -- while having to work evenings and weekends on making your vision a reality. This can often mean there's no time to appreciate how far you've come. Take the time to celebrate each success -- no matter how big or small. This gives you that little bit of satisfaction you need to motivate you in moving forward. You don't have to throw a party and be the centre of attention -- do it in your own way! Crack open a bottle of wine every now and then or take the afternoon off next time you meet a business milestone -- it sounds cliche but it's as much about the journey as it is the end goal.
Suggest a correction