How to Succeed in Business as a Complete Newbie | Business Town

How to Succeed in Business as a Complete Newbie

You have a great idea for a business. You want to do this. Is that enough? Unfortunately, it’s not. Many new businesses are doomed because their owners don’t know how to attract a target audience. Lack of experience is a serious disadvantage. However, it’s not a problem you can’t solve. Even complete newbies can start successful businesses when they stay focused on their goals. Here are few tips that will get your business where you envision it to be:

1. Get a Business Plan, but Leave Some Space

There’s a reason why business plans are mentioned in all guides for building businesses. The business plan presents the ideal development of your business from stage to stage. However, reality is rarely close to those ideal parameters. You should always leave some space for flexibility and revise the plan from time to time. You will have to accept digressions and take risks whenever necessary.

One way to be flexible is to at least initially create a one page business plan. A very short one page plan is a great way to get some of your most important thoughts down, serve as a platform for discussion and be easy to change and build into a longer plan. Even your one page business plan should include a quick summary of the key elements such as your strategy, your business model, market and customer analysis, finance and marketing.

2. Offer Something Valuable that Will Bring You Money ASAP

If you intend to introduce something completely new and you’re not sure of the effect it would cause on the market, maybe you should spend some time in preparing the audience. You can do that through blogging, social media activity, or surveys that sense the public opinion.

This is the main lesson to learn: identifying great business ideas always comes before bringing them to practice. Find out what people want to buy, and discover what the market is already offering. Can you identify a gap? If you meet people’s needs, your business will start making money ASAP.

3. Sort Out the Legal Matters

Get informed about licensing, taxes, insurance, and all other legal matters related to business maintenance. These are the little things that can make your enthusiasm go away. If you’re aware of all responsibilities, you won’t be overwhelmed by unpleasant surprises.

4. Create a Great Online Platform for Your Business

A great website with all necessary features will not only inform the audience about the products/services you offer, it will also help you build a recognizable brand.

It’s important to publish valuable blog posts and on-page content, so you’ll attract Google to bring you more visitors on a daily basis. If you don’t have enough time or skills for Web design or content writing, you can rely on effective online services such as Blue Fountain Media, a digital agency that offers creative Web design services accompanied with digital marketing and mobile app solutions. Another option is EssaysOnTime, an online service that offers content writing assistance on any topic. You can get your content written by true experts in the niche.

5. Be Realistic Regarding Budgeting

Let’s be realistic: it’s almost impossible to introduce a business idea that would immediately attract investors. The competition is huge in any market. That’s why you need to realize you’ll probably have to make your own investment.

The expenses will always be bigger, and the revenues will probably be lower than you expect. You have to be a great finance manager and check every single expense. Whenever it’s possible and appropriate to lower costs, do it!

6. Get Professional Advice

If you’ve never been part of any business, your great idea won’t be enough. Instead of wasting years trying to gain experience as an employee, you can get the needed knowledge much faster. For example, you can get professional advice from the SBA Learning Center. Through this training, you will gain more confidence to take risks and market your products/services in the best way possible.

7. Develop a Network

You have to build a great professional network that will get you the connections you need. You cannot develop a business without proper support. You need business partners, employees, and connections with influential bloggers in the niche. You can get all that through LinkedIn. Develop a profile and start making relevant connections.

8. Hire the Right People

Without the right people, you won’t have a business to maintain. You need to think about everything and everyone: promoters and advertisers, salespeople, financial managers, customer support agents, social networking experts, accountants … If you can handle the entire workload, then you’re a superhero. If that’s not the case, then you need to find the right people to hire.

9. Take Discipline Seriously

In business, intellect, creativity and discipline always go together. Working smart means nothing without working hard, and vice versa. Be consistent! Have a schedule and make plans that help you meet your business goals. Your ability to bring all ideas to realization depends on your discipline.

10. Create an Impeccable Sales Funnel System

Special offers and discounts are going to attract more customers, especially when your business is new. Are those customers going to buy your products/services at full price once they get them on a discount? If you sell your offer for a very low price, you’ll be left without profits.

Salesforce is a good platform that will help you develop a good sales funnel system. Once you attract a loyal base of customers, you can start giving them reasonable discounts to keep them coming back.

11. Analyze, Analyze, Analyze!

If you want to be good in business, you need to become a great analyst. First of all, you’ll need to analyze the market and the needs of your customers. Then, you’ll analyze the competition. But, most of all, you’ll be analyzing your own success and the mistakes you’re making on a regular basis.

12. Offer New Solutions

When you obtain a solid base of clients and customers, you don’t want them to get bored. Put this goal in your business plan: constantly offer new services and products that will keep them interested in your brand.

The business is a journey. When you’re new in this adventure, you’ll be focused on planning. Don’t let all those plans ruin the excitement. Leave some space for flexibility and new solutions! The tips you just went through will help you stay on track.

Looking for a business idea?

Check out my most popular article, The 300 Best Small Business Ideas. This comprehensive multi-page article offers expert advice on every single business idea. Includes home based, online, steady income, low cost, product and service ideas. Many of the ideas in this long article can be started part time.

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Learn how to start and run your business by watching the many courses on BusinessTown including Start-a-Business 101, How to Create a Business Plan, How to Find a Business Idea and The Complete Guide to Digital Marketing. You can try BusinessTown for free.

Sophia Anderson is a blogger and a content writer. She is passionate about covering topics on writing, business, marketing, blogging and others. She believes that learning something new every day is a must. Her inspiration comes from reading books and online blog posts that cover a wide range of her interests. Meet Sophia at @Sophia7Anderson.