Almost 150 million businesses are opened each year. But how many of these businesses survive the initial “starting up” period? Almost 90% of companies fail in the initial year of launching. Most people, then, need business startup ideas to start successfully.
There are many easily overlooked flaws entrepreneurs make when starting a new business. So, today we are going to help the beginner entrepreneurs in our reader community about some of the most important business startup tips they should follow when starting a new small business.
Business Startup Idea #1: Put Your Goals In A Step-By-Step Procedure
This is the first and probably one of the most important business startup ideas. Young entrepreneurs often make the mistake of setting up goals without any specific schedule or planned process.
Short and long-term goals should be divided based on years, months, or even days (in certain circumstances).
Lofty and unobtainable goals can seriously damage a startup. What is the point of establishing a goal without a solid plan to make it happen? High expectations do not equal poor planning.
Business Startup Idea #2: Get Out Of Your Comfort Zone To Succeed
When starting up a new business, most new entrepreneurs put a lot of faith and trust in the new venture (often without much analytical foresight).
Do not put all other important activities of your life on hold just because you started a new business. Instead, step out of your comfort zone, work harder, and dedicate more time for productivity than usual.
For example, it may be smart to continue whatever day job/studies alongside your business venture. Remember, there is no shortcut to success; It’s a simple and straight 2 + 2 = 4 formula. Make sure you follow it.
Idea #3: Obtain Mastery In Your Trade First
As the saying goes: “jack of all trades, master of none.” Pick up one single niche you are passionate about and eager to contribute to.
A single unique and creative single service/product will bring more success than many semi-decent things at once. Consider diversifying your business once you become known for the niche in which you have invested in.
Idea #4: Keep Costs In Check
It often happens with young and passionate entrepreneurs that with the arrival of a little success in the initial period, they start to spend that hard-earned money unwisely and on unnecessary things. This can be disastrous and a must thing to avoid. Always remember that keeping yourself cost-effective and friendlier is the only way you can reach into the club of millionaires (or probably billionaires) someday.
For example, ask yourself why you need to have a physical office at someplace when you and your employees can easily communicate and do things effectively using the virtual world? Today, we have ample resources available on the web to accommodate any small (or even large business) requirements with ease. Be cost and eco-friendly in your approach.
Idea #5: Networking Is Crucial
The final important tip we have for all of our valuable entrepreneurs who are beginning their business journeys in 2017 is of building a robust and strong connection with others, in and outside of your niche. In this age of digital socialization, it has become much easier as compared to the pre-internet decades.
Never lose a chance if joining professional groups or interacting with other people in the greater business communities on the web. Remember, networking itself opens up a lot of business probabilities and it might give you lots of chances to make good connections in the industry you work in.
A Final Word
So, we hope that the business startup ideas we have given above will help you set up a great foundation for the success of your new business. Additionally, for all small business owners, we have a great tool that will help specifically in building great customer relationships.
This tool is our OneCubeCRM application, a cloud-based CRM portal that not only provides great customer relationship management but also helps in social marketing and project management (within your business staff). We are providing a one-month free trial to every small business owner (without a credit card). Interested in trying our application? Click here!