Starting a new small business? 8 essential pieces of advice

By Elliott Smith

“Some people dream of success, while other people get up every morning and make it happen” – Wayne Huizenga

So many people have great ideas for starting a business and want to give it a shot at trying their hands at running their own organization. But, it is also true that most of the people aspiring to do so often don’t go ahead with it merely because they don’t have the path and the correct advice. Starting a new business, be it small or big, takes a lot of efforts and dedication, and if one invests time and money in doing so without the correct guidance, then it can result in things backfiring even before the business is ready to take off. So, for all you entrepreneurs looking to make it small and steady in the business world, we bring to you 8 essential tips that can give you the correct and steady head start.

A to Z, that’s the way it is to be: The first and probably the most important step is to understand that everything will happen at its own pace. One can plan and decide a lot but it is always the best to take it slow and steady. Most of the problems occur when people try to overachieve and take more on their plate than they can manage. True to the saying “Rome wasn’t built in a day,” it is good to understand that your business to will take time to build and all good things will come with time and efforts.

Perfection is perfect, but one needs to make mistakes: If you read the bios of some of the biggest names in the business world you will come across their failure stories more than their final success story. Contrary to what most people assume, it is not possible to make no mistakes. The business world can be very complex and as much as it is right to try and be perfect, it is also necessary to make some mistakes so you can learn and then grow.

Excuse the excuses: Many dream, but very few conquer! Most of those people who aspire to start a small business of their own give up even before trying. Most commonly the excuses they give are the fear of losing out and the fear of failure. “What if” questions often stop people from even trying in the first place. It is easy to quit even before trying, but then you will never know the thrill of finally succeeding at starting something of your own.

Be a sponge and absorb it all: Experience is the best teacher, and if you are treading out on a journey of starting your small business for the first time, it is obvious that you will have not much experience. So, at times like this, how can you learn? Take advice from your friends and family who have done the same. Take their suggestions and ideas and ask them questions so you have a clear idea of what you are getting into.

Keep it simple and realistic: Chicken was tossed into a yummy spiced mixture and that is how Colonel Sanders gave to the world KFC. It is okay to have just a limited set of products/services that you provide. Most people start with a basic idea and concept and gradually that simple idea snowballs into something so complex that it confuses even the business owner. Keep it simple and keep it unique!

Plan but don’t be rigid: It is natural to plan and go according to the plan that has been formed; however, it is also true that in the world of business one can face scenarios that were not there in their original plan. It is good to stick to the plan, but if you know that certain changes can help you in the longer run, it is okay to deviate and improvise the plan.

Cost counting: Once you have decided on what your business will offer it is important to calculate how much it will cost to enact this plan of yours. Costing plays a big role and after all the main reason to start a business is so that you can earn a good return on your investment. You will have fixed costs such as rentals, electricity, and salaries; along with that, you will also have variable costs from time to time, such as buying new equipment. Trust us, it is a lot of calculating and a lot of numbers, but it’s something you cannot neglect from day one.

Keep your incomes rolling in: Most small time business owners don’t quit their jobs the moment they start their own business. This is a smart approach. Any business is a process and it takes time for it to establish and actually provide you with enough monetary funds that can keep you afloat to manage your day-to-day expenses over and above your business fixed and variable costs.

Starting a business is indeed something that requires a lot of planning and determination. After all, you are investing not only your money but also your time and efforts to make something substantial out of an idea. So keep these eight tips in mind the day you decide to start a small business of your own.


Elliott Smith is a correspondence supervisor at GoAssignmentHelp. He likewise deals with author’s teams, instructors and tutors who provide assignment help services to students. He is a writer who composes articles, on the most proficient method to deal with the weight of studies, tip to build up your business and so on.

1 comment

Leave a Reply

The Self-Employment Survival Guide can help you succeed. Learn all about it here.

Self-Employment Survival Guide book cover