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Starting a new business in 2012

02/02/12

Rasheed Ogunlaru is a life coach and one of the Centre's partners with clients that include successful entrepreneurs. He regularly runs an inspiring workshop Your life, your Business

Read on for his advice to help you start a business in 2012:

Small business is big business! Every year hundreds of new businesses are born. Most of these start as micro businesses often with one or a handful of people. Most of these start as one or two people's dream.  

Are you planning to start your business in earnest this year? More and more people are keen to become their own boss in the wave of redundancies, economic uncertainty, together with this is a desire for independence and to build a business they're passionate about. 

But all these factors mean that having the right mindset, planning, attitude and support are more important than ever.

Here are my top ten tips to achieve this:

1. Be clear: list what’s important in life and business and what you need (seek to achieve, it’s essential that you know what you want and to hold fast to it).

2. Be smart: identify your passions, skills and talents. The road will be tough so it’s wise to build a business around things you truly love.

3. Be prepared: research your industry, customer needs, competitors and rules and regulations – you'll be more clear, confident, realistic and will avoid many pot-holes (you can achieve this by using the Centre's resources).

4. Test the waters – test your idea, get feedback, fine-tune: Does this excite you and your customers? Will people pay? Can you make the living you wish or need?

5. Be strategic – develop clear, specific goals and the route map of how you’ll get there. Have a compelling vision and mission which stick to your values.

6. Have the mindset of a champion: belief in you, what you do and your customers is key - if you don't believe in you or your business, why should anyone else?

7. Be organised: plan, execute, review and work to improve your marketing, operations and your finances. Spend the right amount of time on each activity.

8. Be resourceful: be creative and flexible; your customers, industry, technology and economy and you will change – this approach is key to survive and thrive.

9. Be great: you, your product or service and promotions must shine all the time. Be personable, professional and deliver and your customers will love you.

10.Your support & team – seek and build a strong network of contacts, clients, suppliers and helpers or staff. Balance this free time and friends or family time.

Book or find out more information about the Rasheed's  Your life, your business workshop.

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