Business Planning

5 Launch Tips For The First-Time Business Owner

October 2, 2017 8:34 am Published by

As a first-time business or franchise owner it’s likely that you’ve written up your business plan, had meetings with your bank manager and by now you’ve even had the training (if you’re a franchisee), but as first-time entrepreneurs there’s a jump that you’ll need to take from where you are now to the business launch. Read our previous post- “4 Skills You Need Before Opening A Business“. If you’re ready to launch, here are our top 5 tips for truly understanding your business or franchise before launching:

1.The 60 Second Pitch: Can you describe your business, sell your product or state your mission in just 60 seconds? Learn to pitch from day one so you can clearly and concisely describe to anyone what you do and why you do it. It will come in very handy when you start networking!

2.Bootstrap: Yes, the ultimate dream of working for yourself is the smart office, the sports car, and the gold credit card but right now before you’ve even launched be a startup! It will take time to get to where you want to go so for now, work from home or a shared office, take public transport if you can’t afford a car, and watch your spending.

3.Just Do It: There is often no perfect day to launch a business regardless of all the planning you might have done! At some point you just have to do it, don’t wait for the perfect moment, jump in and learn on the job. You’ll only know if you can do something once you’ve begun!

4.Consider A Mentor: As a franchisee you will have the support and guidance from your franchise to help you navigate the difficulties you might encounter. However, as a business owner, such luxury is not included in the “self-employed” package. Find a mentor who has the experience and can offer insights, help, and advice.

5.Take The Learning: Often aspects of a startup business or venture won’t succeed, it’s the hard reality we have to consider but take the learning and don’t be afraid to fail! Fail fast, fail often (if you must), learn from each opportunity, refine the approach and go back out there!

Are you a first-time business owner? For more helpful tips, click here or get in touch.

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This post was written by Home Care Preferred