How to start a business the right way from the get go

How to start a business the right way from the get go
Creating a successful business takes a lot of steps & planning. You can save yourself a lot of costly mistakes when you start a business the right way.

“A big business starts small.” – Richard Branson

It is often said that businesses are not built by money. Instead, they are built with the right vision and strategy. So don’t shelve your plans to pursue your dream business due to lack of funds. 

There are over 28 millions small businesses in the USA, but unfortunately, only about half of the businesses survive for five or more years.

You need to have confidence in your business idea, risk-taking ability , and an adequate amount of perseverance to make it happen. Once you’ve got that covered, your chances of becoming a successful business go up manifold.

Create a winner – Start a business the right way!

Here are the top 6 questions you need to ask yourself when you embark on a new venture.

1. Do You Really Want it?

If the ONLY reason to start a new business is because you have lost your job, think again!  Or even because your existing business is not doing well. Maybe the better option is to find a new job or work hard to scale up your current business. If you’re getting overwhelmed in your business, try these tips to stoke the entrepreneurial fire.

What is your motivating factor? If you are thinking of taking more holidays and make easy money, then you are subscribing for the wrong job. Starting a business demands a lot of sacrifices, dedication, hard work, and self-motivation to sustain the starting phase of struggle.

Also read: Taking Ownership for Success – Why I became an Entrepreneur?

Are you comfortable taking risks and dealing with uncertainty? Good at selling? Do you like connecting with people and love networking? Because without these qualities, it is impossible to run a successful entrepreneurial endeavor.

Never start your business for the wrong reasons. Because in the long run it’s only your dedication, motivation and conviction which can help your idea become a real business.

Also read or see : 5 qualities of entrepreneurs 

2.  Deliver a clear solution

The majority of start-ups went on to become unicorns because they were able to solve problems. Uber made mobility easily accessible for every smartphone owner, and Airbnb made high-quality, cheaper accommodation available to the masses. These businesses helped people make their lives easier and simpler.

Even if your idea isn’t revolutionary, make sure that you offer a solution that is clear, and stated with clarity. Define your business idea in a few sentences or 1-2 paras. 

Then assess your skills to see they are a match for your venture. 

Also read: 20 Essential Soft Skills for Business Success!

Communicate, clarify and more...

20 Essential Soft Skills for Business Success
Essential Soft Skills for Business Success

Can you refashion an existing business model more efficiently? Improve current offerings, cut down operating costs, and increase revenue through better products and services? A fresh approach can bring a higher value proposition to the existing business model.

Consider bootstrapping with a small amount. You can always scale the idea if it works. 

And if you are really restricted in the funding department then starting a service business is more feasible. Because unlike selling products, selling services is not capital intensive. 

Need help creating a business plan? Check out this free business plan template for a service business

For instance, if you are good at coding then you can startup with web and app development service. All it would need is a computer and an engaging website to attract potential customers. Similarly, blogging, copywriting or even starting a virtual assistant business need good skill sets but a very small investment.

15 Key Steps to Start your VA Business!

Even if you choose to be at home with your family, here are 10 great legit options to earn money and be a Stay at home Mom.

3. Leverage Free Digital Marketing Tools

Digital marketing is the way to be more visible and reach your audience in a focused manner. There is a plethora of digital mediums through which you can easily market your business to your potential customers. You can be visible on social for free, and even advertise or promote without burning a hole in your pocket. An engaging Facebook post can help you grab more eyeballs than a bundle of colorful pamphlets while Instagram is the best way to market your brand or visual business.

From social media marketing and web analytics to designing stunning creatives and sending emails to hundreds of people in one go; you might find it money-intensive. You can leverage these free digital marketing tools to kickstart your business.

  • Google Analytics – Track the traffic and activity of users on your website
  • Canva – Create stunning designs and images 
  • MailChimp – Shoot newsletters in bulk
  • Grammarly – Keep your online content error-free 
  • Evernote – Keep your schedule, notes, meetings, discussions and other stuff organized to multitask efficiently
  • Buffer – Manage multiple social media accounts
  • Charlie – Free CRM
  • SurveyMonkey – Run online surveys free of cost to get real feedback
  • WordPress – Create stunning landing pages

If you’re looking to amp your online presence, check out these 25 top free business tools from Google

Here is a very comprehensive list of free business resources for entrepreneurs and startups alike.

Well, the list is endless but above mentioned free digital marketing tools can help you start your marketing activities very easily without spending a single penny.

Need more DIY business solutions from experts? Check out the Digital Tools Marketplace

Get the best business tools and freebies!

What do entrepreneurs need? Strong ideas AND quality tools to build a better business! Choose from our popular selection of eBooks, Printables, Guides, Checklists and more
Help your business grow with these tools and freebies!

4. Research your market and customers

You need to stay prepared for any competition or market challenges well in advance – this is one of key considerations in creating your business. If you are not prepared, you will lose your business. There are no excuses.

You can choose many avenues like surveys on Survey Monkey or Google Forms. Offer an incentive to fill them out, if your budget permits it. 

Informal polls and questions on Facebook groups are another great way to get answers. Entrepreneurs have posted questions asking for feedback on strategic things like business premise and idea. Others ask for opinions on elements like logo or web design. Many also gauge consumer interest on pricing products or services.

Talk to existing and potential customers multiple times – this can save you costly mistakes. 

Find out whether your idea is unique or not. Because when you start researching, you will find that most of the ideas are already in the market. There is no need to get disheartened or shun your concept. All you need is a better business strategy to execute your idea more efficiently than others.

Proper market research will also help you understand whether your business idea will work or not. 

If you are a startup, you can conduct robust market research by making a prototype of your product or service and rolling it out to  a group of people. You can also ask people you personally know to give brutally honest feedback and suggestions. This will help you with insights for further improvements.

Also read: 7 Tips for Business Success – What Counts and What Works

The key is to blend online and offline research efficiently to churn out actionable business insights and patterns. It will also help you cut costs while enhancing the product or service.

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5. Keep Networking

The success of a business largely depends upon the kind of people you meet and the number of resources you can leverage from them. Keep attending trade shows and seminars where you will get the opportunity to meet potential investors who might invest in your business.

Around 9 out of 10 people feel that face-to-face meeting is the best kind of interaction. Your social capital, the network of authentic personal and professional relationships is the most important asset in your portfolio.

A study by the Harvard Business Review found that among the 165 lawyers at an American law firm, those who are able to network efficiently were more successful than their peers. They were able to fetch more business for the firm and get themselves assigned to choose clients more effectively. Aside, lawyers who avoided networking could secure lesser billable hours than their peers.

Image – your network is net worth

You should boost your presence on social media, including LinkedIn and Twitter. There, you can find most of the successful investors and entrepreneurs interacting with people. Always remember that if you are looking for funds, then investors are also looking for the right investment opportunities. You need to keep on trying until you meet the right resource to help your business.Also read: 14 ways you can stand out on Linkedin

Make the right connections!

Here are 7 compelling reasons for an active presence and 14 awesome ways LinkedIn for women entrepreneurs works!
14 awesome ways women entrepreneurs can stand out on LinkedIn

6. Wear Different Hats

Of course, you are the founder and CEO of your enterprise. But that shouldn’t deter you from taking customer calls or meeting them whenever required. Similarly, it is possible to create your own blog or build a simple website to get started. You can always hire technical help, but a DIY attitude and legwork can save you a lot in costs. Initially, you may also have to handle your digital marketing activities by yourself. Similarly, specialized services like design and SEO can mean a big outlay if you are hiring pros.

A successful entrepreneur needs to be open to the idea of wearing different hats to make their  business a success. For instance, e-commerce behemoth Flipkart’s founders used to deliver products once in a while even after their business was a hit. The idea was to gauge customer satisfaction and gather first-hand feedback about their business. It helped them cut extra cost and at the same time helped them improve customer service enormously.

Wrap-Up 

Do whatever it takes to make your business a success. For now, you might have to work for hours and days on end. But it will all be worth it in the end. Following these considerations while creating your business will stand you in good stead.

However, don’t proceed further with a business idea unless you plan to give it your 100 percent. Remember, once you get your business in the market, you will need to.

Hopefully, these steps will help you take prudent business decisions with confidence and clarity.

Lucy Manole is a creative content writer and strategist at Right Mix Marketing Blog. She specializes in writing about digital marketing, technology, entrepreneurship and education. When she is not writing or editing, she spends time reading books, cooking and traveling. 

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9 Comments
  1. Sushmita 2 months ago

    I have bookmarked this page. It’s pretty helpful for a start! 🙂

  2. Jasmine M 2 months ago

    Free digital marketing tools are a must when it comes to starting a business. You can save money and get the word out about your business digitally without having to pay a lot of money. Thanks for this!

  3. Annemarie LeBlanc 2 months ago

    Starting a business should be carefully planned and preparations should be in place should dips occur. My daughter wants to start a business but right now all she has is capital. I keep telling her that your business should be something that you are passionate about.

  4. Dalene Ekirapa 2 months ago

    People should just have the right intentions before getting into business: it should not be because they have the money, lost their job or any other malicious reason. Once that’s made clear, it’ll be easy to actually start the business.

  5. Annita 2 months ago

    These are great points to remember about starting a business. I think that’s a great point about research and polls specifically. It takes the guess work out of some aspects of the business and helps you to go in the right direction. Plus, it keeps you relevant!

  6. Kevin Akidi 2 months ago

    These are great tips for business owners and those planning to go into business. It is true business that is built for the sole purpose of getting money is not sustainable, you need a vision that your customers can identify with and provide solutions that your customers need.

  7. I am a dentist and I’ve dreamt of being one, for as long as I can remember. When I opened my private practice, I didn’t know I was going to be in business, but I suddenly found myself in it.

    When I began I wished that someone warned me about it, cus it’s not easy being in business. But eventually my practice picked up. The most important thing you need in business is PERSEVERANCE and CONSISTENCY. All the rest, you learn along the way,

  8. Joanna 2 months ago

    There are so many things to consider when you start your own business and the first thing to do is create a very clear business plan. Without it and without goal settings, you can’t be successful.

  9. tweenselmom 2 months ago

    Found many valuable tips on this blog post. I’ve read about everything except for Charlie, a free CRM tool that will be very useful for entrepreneurs. Thanks!

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