Hard times are good times to start a business – in other words, when you’re starting a new business (even in a recession) the only way is up! And if you make a success of it, you’re well placed for when the economy picks up again
Focus on the ideas staring you in the face – if there’s something you need that other businesses aren’t supplying, then fill the gap!
You already have the tools you need – a laptop and a mobile phone’s all that most businesses need to get off the ground.
Cash is King – you need funding, either from savings or a loan. No-one’s going to pay you a salary, so work out how you’re going to survive.
Tell your story – it doesn’t matter whether you’re talking to a potential customer, a mentor or a potential sponsor … it helps to tell the story of your business and the needs it fulfills
Oh, there’s another one as well – don’t take too much notice of these 5, just get on and do it!
I’d agree with all of those and add another one – if you’re going to start a business, make sure that it’s doing something that you absolutely love! What’s the point of doing something that you don’t enjoy? That might have been one of the reasons why you left your previous job, so don’t get trapped again.
Anyway – what are your top tips for people thinking of starting their own business? Why not share them below?
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