5 Tips To Starting A Small Business

Starting a small business is always a daunting prospect, because frankly, there's just so much you have to deal with aside from the obvious problems of sales, marketing, advertising, clients, customers, and prospects: you've got tax, government, and all the other bureaucratic tomfoolery, too.

Still, don't be deceived: it's still the best way to secure financial and lifestyle freedom for yourself and your family.

I can't promise you riches (and nor can anyone else, not if they're being honest) but unless you have a cushy government job or are a tenured academic, then your "job security" is a dangerous illusion.

So, don't be afraid. Get your chin up and your back straight, and put your best foot forward.

Here are some tips to help you on your way and make starting a small business as easy and painless as possible.

Sell What People Want, Not What They Need!

I know there will be exceptions, but in the main it's true. I am tired of the so-called "underprivileged" people sitting there with their expensive TVs, computers, games consoles, designer clothes, stereos, ipods, mobile phones, with late-model cars on the driveway and cupboards full of expensive convenience food telling me they "can't afford" the stuff they really do need (I once had someone tell me he'd never spend £9.50 on something as "frivolous as a book", yet he has plenty to fund his broadband connection and online gaming subscription).

So that's the first thing: find out what people want and sell that! I'd add the caveat that it's something YOU know something about yourself and, perhaps even more important, are passionate about.

If you're not, starting a small business is going to be no fun at all. It's tough at times and that's when you'll need your passion and drive to keep you going.

Learn About Marketing And Advertising

Getting everything set up before you know how you're going to market your products and services is as close to insanity as you can get (and while you might agree with me, it's something I see happening all the time).

The truth is, your whole product line and service offering is so closely bound up with your market and the message you give to it, it's virtually impossible to start the business in any meaningful way which has a hope of success unless you have your marketing plan nailed down before you do anything else.

How?

Well, first thing to do is claim your free subscription to my free email newsletter and free report right now. Then it's a matter of testing and tweaking and finding out for yourself what works for you and what doesn't.

See, the gurus who tell you they have "the killer" system for you are at best deluded and at worst outright liars. We know the fundamentals, we know what works in most industries in most areas, most of the time.

But the devil is always in the detail. That's why you need to understand marketing – so you can figure out the detail with my help. Starting a small business does not have to be something you do all on your own.

Use Your Website Properly

I'll hazard an educated guess you're thinking in terms of SEO, blogs, social media marketing, email marketing and all the stuff that's been hyped to death over the last 10 years.

Don't be deceived. With vanishingly rare exception, your website is NOT the business in and of itself. Moreover, it never should be. It leaves you too vulnerable. It's too easy when starting a business to swallow all the hype and think you're going to do it all onlne or that your website is an afterthought or an add on.

Each of these extremes is a bankruptcy waiting to happen.

What your website should be is a fully integrated part of your business (I liken it to an old-fashioned "concierge" in my email newsletters) but it's not the business itself.

Even the "big name" Internet marketers don't confine themselves to online activities only. Not using offline media to help drive even a hitherto entirely online business is a huge mistake.

Make your website a fundamental part of your marketing machine – which means YOU have to understand marketing and NOT let your website designers tell you how to do it! They're website designers NOT marketers!

Starting a small business with a "brochure" website is a good way not to make any money!

Be Realistic In Your Expectations

I'm not being negative here – just realistic. It's very easy to get carried away with the love of what you're doing and remember not everyone is as passionate about your business as you are. In fact, no-one is as passionate about your business as you are.

It's too easy to talk into a large room of other business owners who are fired-up and gung-ho and expect to be writing business left, right and centre; it's the same when you're smooth-talked into running an ad by a rep, persuaded to put an entry in the Yellow Pages, or hoodwinked into buying the latest overnight-success product off the Internet.

The truth is it takes time and effort and a lot of mistakes to build a successful business. If you're really committed to starting a small business, get used to the idea that while you should expect the best, you should also always prepare for the worst. Don't risk what you're not prepared to lose.

Think Long Term

I won't say no one has ever made a fortune overnight, but if they have, then they are very few and far between and overwhelmingly outnumbered by the rest of us who've taken a lot of time and effort.

You can also win the lottery or be left a huge inheritance by a rich uncle you never heard of. It does happen. But it's unlikely to happen to you when you're starting a small business.

Starting a business is a long-term wealth-building strategy, not a get-rich-quick scam.

The second thing is the real value of customers is in the long term relationship you have with them. It's easy to make the first sale and make a small profit. What's harder but much more valuable in the long term is to make a sale to get a customer or client – someone who'll come back and buy from you over and over again.

The only trouble with this is it takes time and effort – you have to give outstanding service and build a relationship. And that can also mean accepting a lower profit on your first sale (sometimes as low as zilch, or even less!).

Next Steps...

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