If you’re finally thinking about taking the step and running your own business – congratulations. As scary as the idea might be, it’s also a very exciting one. It means that you’re ready to leave your mundane career and are willing to take things into your own hands.
It’s important that you know that you will run into issues – there will be plenty of ups and downs, but you need to ensure that you are properly equipped to get past them. You will be challenged, but that all comes along with the territory, it’s all down to how you deal with them and more importantly, overcome them.
When starting out, there are a few basic rules that you will need to do that will help you have a solid ground to start on. Here they are.
Good idea
Now of course, no good business comes without a good idea. If you have been thinking about doing this for a while, then you most likely have a ton of ideas. You need to make sure that whatever it may be, you have a USP, otherwise known as a Unique Selling Point. This is what makes you stand out amongst all other businesses out there.
Business plan
You have probably heard this common term, and while it may sound rather formal – it doesn’t have to be. All a business plan is, is you writing down all the things that you want to achieve, and all the things you think you need to do in order to get there. This is for your eyes only, so as long as you understand your plan, that’s all that matters.
Budget up
You will need a decent amount of money to begin your business, you need to know right off the bat that it isn’t going to be cheap. Business startups cost a lot, so if you have a number already in mind – double it. You can expect to be faced with a lot of hidden costs, so it’s best to have more, than not enough. Tap into your savings, or take out a loan. Just make sure you can pay it all back in time.
Legal advice
It is always important to get the advice from a professional legal advisor so that you know exactly what you’re doing. Commercial lawyers will discuss all the finances that you may be confronted with when running your business, be it buying a franchise, leasing a space, reviewing your general contracts, and even going through workplace agreements between you and your employees.
Hire a business coach
Elite athletes have a coach. And now, in this difficult and demanding time for creative professionals around Australia and around the world, it’s your turn to have a “business coach” too.
A sporting coach will work with an athlete in establishing training routines and developing habits that mean that the athlete can achieve optimum performance. A sporting coach provides support, motivation, and encouragement. A sporting coach is there when the athlete starts the training day, and is there when the athlete runs across that finish line.
It’s the coach that works with the athlete on the big picture. Works with the athlete on strategies that the athlete needs to earn a place on the winner’s podium. It’s the coach that works with the athlete to keep them going when energies are low and the hurdles seem to high.
In the same way as a sporting coach will work with an elite athlete, a Business LifeStyle coach will work with you and walk alongside you as together we create a sustainable business that supports you in your enterprise… Thus creating what we call a “Business LifeStyle”.
Focus
There will be times where you ask yourself what the point of all this is. You will feel exasperated, and exhausted, and nothing will seem like it’s working out the way you had expected to. When this happens – know that it happens to everyone sooner or later, and all you can do is stay focused. Remind yourself of why you started this in the first place, and know that things will get easier as long as you don’t back down.
Want to learn more?
- Just starting out? CLICK HERE
- Been working in your business for two years or more? CLICK HERE
We’re here to help you to take action just like we’ve helped thousands of other entrepreneurs, business owers and creative professionals all around the globe.
Now is the time to let your passion SHINE.
Now is the time to Make Tomorrow Today!
To your success,
Vinh Van Lam & Stuart Horrex
Your Creative Coaches @ CoSydney & ArtSHINE industries
