We all do it! We all think to ourselves….”wouldn’t this be a great business idea”. Maybe you’ve thought about creating your own startup, but were too afraid or didn’t know where to begin. Maybe you’ve had all of these great ideas that you’ve been pondering for months…or even years and you’re now finally ready to take the plunge!
Close to 75% of startups fail and we don’t want that to happen to you! We want you to succeed and have put together this no-fail set of tips to make sure you can get your business off the ground in no time.
The Idea – Have A Successful Business Plan
In order to be successful, you must be passionate about what you’re selling.
Raise Money
Unless you already have a fat bank roll, you will most likely need a little help. Start wooing the venture capitalists now!
Find A Good Location
The first thing any marketing major learns in school is Location Location Location! Location is key to getting your product out to the market (or to hide from the authorities).
A Good Business Partner Is Essential
Your business partner needs to be on the same page as you at all times. Make sure you get along with this person. Otherwise, it may end badly.
Hire Loyal Employees
Your employees are the backbone of the organization. It’s essential that you can count on them to help make your vision happen.
Make Something That People Want
This is simple economics theory of Supply and Demand. Make something people want to buy!
Have A Lenient Dress Code – You want your employees to be comfortable.
This isn’t the 1950’s anymore! There is no reason for business casual.
Maintain a Standard of Safety
Keep OSHA at bay! You are responsible for ensuring your employees have the tools they need to be safe in the workspace.
Have A Good Network Of Contacts
A good contact network will be crucial. There will always be a time when you need help! Remember that this is a give and take relationship. Always offer something in return.
Keep A Good Lawyer On Retainer
For those pesky legal issues that may arise, a good lawyer is indispensable.
Stay Focused On Your Goal
One of the main reasons many start-ups fail is because the founders may loose site of their original plan. Make a point to stay on track!
Build Your Brand Image
I can’t stress enough how important your brand image is. It’s how customers recognize and connect with you! For some extra guidance, check out Designing A Brand Image for some great tips.
Watch The Money Flow In
Once all of the above have been achieved, you can get ready for the money to start rolling in. Go ahead and stack it in piles around you! You have built an empire from your own fabulous ideas and can now sit on your throne.
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We hope you’re able to take away a great deal of knowledge from this post. You now have all the tools you need to make a successful startup. If you know someone else who needs some tips, please share this with them and help your friends to be successful as well.
If you still need some help getting started, check out these awesome products:
Download these worksheets and start practicing with simple instructions and tracing exercises.
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