Congratulations on starting your own business! This is an exciting time, but it can also be very nerve-racking. Opening a business can be a learn-as-you-go process and it’s important to start your business on the right foot in order to achieve success. Here are some tips that can help pave the way.
1. Be Open to Criticism
Listening to constructive criticism is key for your business to achieve success. Make sure you thoughtfully consider all that your friends, family, and other business owners have to say about your business idea. The honest opinions and feedback they give you can reflect how your consumers will think and feel about your business. Also, make sure you get as much information from expert business-owners. They know first-hand what it takes to successfully run a business and can help you avoid costly mistakes.
2. Keep Track of All Your Costs
Small expenses can add up quickly before you even get a chance to show your business to the public. Some costs that you should keep in mind include location, rent, and supplies. To be conservative, add up all the costs of starting and running your business and then try to plan for up to four times the amount you calculated. Just as life hits you with many unexpected moments, owning a business hits you with many unexpected costs. Always prepare to spend more than you expect.
3. Don’t Be Afraid to Speak Up
Do you suffer from glossophobia? Glossophobia is the fear of public speaking and it’s a very common fear. If you are shy and not comfortable speaking in front of a crowd, you now must step out of your comfort zone and do this very frequently. As scary as this may sound, new business-owners must constantly network and convince people to buy what they are selling. If you’re not outgoing, you must “fake it ‘til you make it”! It will get easier over time.
Barrister Executive Suites offers a low-cost solution to office space rentals that can help keep your overhead costs low. Our offices come equipped with the services that you need, at a price you can afford. The low start-up cost allows tenants to save more of their working capital and invest in their business. By allowing Barrister staff to handle the day to day operations, tenants can focus their time and energy on revenue generating tasks and growing their business.