Want to start a business now? 5 lessons you need to know

If you’re thinking of starting a business here are five key lessons to help you advance on your journey.

Firstly do something you love

Wherever possible start your company in an industry you love. You're much more likely to be truly passionate about something if you love it. We know there is a huge difference between following a dead-end passion versus following the passion that will bring success into your life. But wouldn’t it be great if you could combine your love for something into a business.

Of course expertise is the key to making a company work, but you do need more. if you have experience in a certain industry try to use this even if you want to do something entirely new.

Do your homework

Before you launch any business, do your homework on the industry. Your company won't succeed if it's just another version of something else. You’ll need to make an improvement or create a new product or service that fulfills a demand even if that demand doesn't exist yet.

Your main focus as a business is providing the public what they need or want. You don’t have to be the most innovative company but you will need to offer something new. Whatever it may be, your company needs to have purpose.

Think long term

When creating a new business it can be easy to focus on short term earnings but you should always try to concentrate on the future. Your aim should always be to create an established, respectable company that enjoys long-term earnings.

Really good examples of focusing on the long term are internet companies that startup with little or no revenue streams. They focus on users first and monetise their efforts later. Having a long-term mindset is the way to grow an established, successful brand. So try not to focus on short term earnings. Good things comes to those that wait as they say.

Embrace Technology

Being successful in business is all about taking an idea and growing that idea into an established company or brand. Now more than ever you need to be using new tools and technologies and taking an adaptable approach to growing your brand in order to find the type of success you need.

They are so many channels now available you could use social media, live videos, webinars, YouTube videos to name a few. You need to think about the tools that you personally can use to innovate in your business and think about the tools that others are failing to utilise.

Great tools exist in the marketplace such as our own business builder that save you time and money. You can now do your accounts, create a website manage your legal documentation all in one product, 24 hours a day from anywhere

Be authentic

One of the best things about social media is that you can communicate directly with your customers and clients. If you use it correctly, you will connect with your customers on a personal level and get to know them. You don’t always need to be professional you can just be yourself.

A business is only successful now when it embraces change. So when starting a business focus on a multifaceted approach to creating a company.

No matter what industry you are in, focus on these keys points to help start your business. So to recap, Firstly do something you love. Secondly do your homework on your chosen industry what do they need or what do they desire. Thirdly don't think short term and always embrace new tools and technology. Lastly the more authentic and personable you are the better. These five tips are the most important strategies for standing out from the average business owner.

Sarah Wilson - Digiwoo

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