Thinking of making your own start up company this year? READ and TAKE NOTE of what to do and not do in 2015…..
Don’t take on too much.
For a lot of people at the start of the New Year, there is a sudden illusion we are invincible and therefore resolutions are made that are often sometimes too great for us to uphold. Goals are great but don’t make ones that are unattainable, especially with a new business. You’re going to come across all sorts of obstacles, so small goals are the way forward and you won’t falter under the pressure. Don’t say yes to everything; take everything in your stride.
Don’t be guilty of micromanaging.
If its your own business, you essentially have a ‘vision’ for how you want it to be, but you have to be realistic with yourself. You can’t do everything, it’ll come back to haunt you; learn to delegate and trust the people that you have hired that they will do the job well. The best organizations have teams in which they can rely on; trust you’re staff and don’t become a boss they resent.
Give yourself time away from the job at hand.
Once a week at least, you need to breathe; see this as your time to reflect on the week before, so when you come back to it the next day your seeing it with a new perspective. You need to rest in order to generate new ideas, otherwise you’ll burn out.
Don’t be money orientated.
Your sole initial reason should be that you are interested in what you are investing your time and energies into rather than to be driven by the purpose of money. Of course money is a huge contributing factor, but be realistic with yourself as it can take a couple years at least for some start-ups to make any profit at all. If the passion is there to begin with then you will resiliently persist until you get to where you want to be.
Be selective of who you hire
You want your business to be the best it can be, work out what you want from the business and therefore what you are looking for in the applicants in order to get to that point. Relying on friends can equally be dangerous as the line between it being business and it being personal is thin.
Don’t be scared of failure
It happens to the best of entrepreneurs out there and more often to those who are thick skinned and resilient to their goals it can also be good. It can make you’re understanding of the business world bigger and you will be more aware of the pit falls to avoid the second time round.
With all the above taken into consideration, there’s nothing to say your business won’t be a success. Persistence and resistance are key. Most importantly don’t lose sight of the enjoyment you have from your business. Good Luck!