10 Important Rules for Starting Your Own Business
Starting a business can be an exciting time, but it also comes with many different challenges. However, by following a few important rules you can help to get your business off to a successful start. Here are 10 essential guidelines new business owners should abide by to give themselves the best chances of success.
1.If you haven’t already, then learn to drive. You need to be in charge of your own schedule, whether the nature of your business requires you to deliver a lot of parcels, make regular trips to a wholesaler or undertake a commute, the convenience of being able to drive yourself around will make you far more productive.
2. In order for your company to grow quickly, it’s also a good idea to employ people who can drive as they will then be able to take control of any deliveries that need to be made and visit potential clients etc., while you concentrate on running your business. This is especially important if your premises is poorly served by public transport.
3. If an employee is driving on your behalf, they will have to have business use insurance, and you’ll need to be up to date with the latest guidelines for employee safety; pay careful attention to these details as it will be costly to your business should an accident occur. You need insurance for all aspects of your business, don’t be caught out.
4. Networking will be a crucial part of your business; make sure to attend as many local events as you can to help drive the company forward.
5. Ensure that your start up is based on a strong business plan so that you know which direction you want it to go in, and remember not to overlook the administrative side of things. Paperwork is just as important as your products when you’re stating up, if you try to build a business on flimsy foundations then you’ll fail.
6. As a business owner, you need to ensure that you are registered with the HMRC for both tax and National Insurance purposes. Although this should be obvious, it is a side that some people neglect and it will lead to problems down the line; don’t overlook this essential aspect of running a solid business.
7. If you don’t have a separate office, make sure you have a dedicated space in your home that can be used to work from, and don’t let yourself get distracted by things that are not related to your business. Set yourself a regular routine and deadlines; make sure that you stick to them. If you do have an office, make sure it is kitted out and connected to all the right amenities.
8. Running a start-up can often be daunting so it’s important that you have some support. There will be times when you won’t have a lot of money coming in and, to begin with, you might struggle to find new customers. However, by joining one of the business support groups or participating in online forums, there is plenty of advice available on how to drive your company forward despite the many challenges.
9. Social media is a valuable free tool that is available to any business no matter its size. Using social media effectively can help raise your company’s profile and gain new customers. For this reason it is important to learn everything there is to know about effectively using sites like Facebook and Twitter to build your company’s reputation.
10. Remember to make time for your friends and family and don’t let your business start to take over your life. If you’re going to have a successful company in the long term, then you need to take time to relax and enjoy yourself as well. The moment it becomes a burden you’ll struggle to find the energy to succeed.