Starting your Business on the right footing

Not having defined goals or not being clear in defining exactly what their undertakings are is the number one reason that businesses of all types fail.

• Your target audience – your niche market
• Your client’s income goals
• Your lead generation strategy – prospect building by Salespeople – SEO – word of mouth – advertising (to give your potential clients an understanding of who you are, what you do, where you are)
• Your own role – which tasks to delegate and outsource
• Your Finances – Profit & Loss, Cashflow. Keep a tight check on and control of your finances. Remember the old rule ‘Turnover is Vanity, Profit is Sanity, Cashflow is Vital.

Get these things figured out BEFORE you launch. And stick to them from the start.

The answers may change over time, in fact it’s great if they do. This means you’re not standing still.

You need a defined starting point before you start, and the best way to achieve this is to have a Business Plan in place.

For more information check our section on Business Plans in the Silver Business Club.