Raw 03 - November 2008 - (Page 10)

RAW RACHEL ELNAUGH TOPTIPS My 10 Top Tips for Business Start Up Success I started out in business at the age of 24 with nothing much more than an idea and a telephone! Over the years I’ve worked with many start up businesses, as well as developing my own, and here are the key things that I’ve learned it’s really essential to get right from day one if you want your business to have the best chance of becoming a success. Do It On Your Own On the face of it, it’s so much less scary to start up in business with your husband, your best friend or perhaps a work colleague. However, beware that the stress of starting a business will soon take a huge toll on your relationship. You will soon find that more time and energy is spent complaining about your partner and how frustrated you have become with them than is actually spent on progressing the business. If you must go into business with a partner a) ensure you have a watertight partnership agreement which states how you will address all issues should things go wrong, and b) be really clear from the outset whose responsibilities lie where, and if there are actions whose responsibility it is to perform them - and by what date. Follow Your Passion So many people go into business with the idea that they just want to make money. Frequently these people are doomed to failure. Successful business is much more about giving rather than taking - giving great products, fantastic services, unforgettable experiences. If you give people great value then they will buy into your business. There is no bigger turnoff than a business just trying to make a fast buck - and even if you fall victim to one, you can be sure you’ll never spend money with them again. Dare to be Different It’s so tempting to start out in business by looking at what everyone else is doing and trying to do things the same. However, the safe middle territory in almost every sector is already crowded with established players meaning you will find it incredibly difficult to break through. So by all means look at what everyone else is doing - and then ask yourself whether you could do it in a dramatically different and innovative new way? It is almost always better to wow a small niche of customers with a brilliant product than try to be all things to all people. Strong Brands Sell In virtually all marketing situations you have less than 10 seconds to stop a potential customer in their tracks and respond to your offering. A strong attention grabbing brand - which has the potential to become instantly recognisable - is the quickest, fastest way to build your business and guarantee success. So it is vital that you spend time at the start of your process asking yourself what your brand values are, what the character and personality of your brand will be - and then ensuring consistency in the image you portray at every single customer touch point. Focus on Sales Sales Sales It’s very easy at the start of a business to get caught up in administration and infrastructure - desks, chairs, offices, letterhead, staff, signage. However, spending money requires very little talent and is the easiest thing in the world to do. It’s far more difficult to make it. So you will help your prospects of success greatly if you focus all your time on sales sales sales. When 10 millionimpossible.com http://www.rachelelnaugh.co.uk http://www.millionimpossible.com

Table of Contents Feed for the Digital Edition of Raw 03 - November 2008

Raw 03 - November 2008 Contents Bradley Chapman Rachael Elnaugh Linda Klassen-Brown Heidi Weir Mark Asquith Emma Thompson Chris Wright

Raw 03 - November 2008

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