Launching Your Business in 2019? Consider These 5 Tips
Written By John Turner, founder of SeedProd
More and more people want to ditch their 9-to-5s and take control of their futures by starting their own businesses.
But starting a business isn't easy. It doesn't matter whether you want to start a small business from your spare room or create the next multimillion-dollar global phenomenon -- if you're not prepared, your business won't succeed. Luckily, though, there are a number of tips you can adopt that will make the likelihood of your success that much greater.
1. Stop aiming for perfection.
When launching a new business, it's natural to want everything to go smoothly. But if you want to be triumphant, you must let go of your perfectionist tendencies. While you might think that being a perfectionist will be beneficial to your new endeavor by making you more motivated and pushing you to strive for success, that's not always the case. In fact, as reported by Harvard Business Review, perfectionists have higher levels of stress, burnout, anxiety, and depression.
Stop aiming for perfection. When starting a new business, you're bound to experience bumps in the road. If you expect them to happen, you'll be better prepared. Mistakes don't make you a failure -- they help you learn and become a more successful entrepreneur when you overcome them.
2. Build a support system.
Building a business is difficult and you can't do it alone. And I don't just mean financially. Having a support system in place when you dive into your new business venture will make all the difference. If you think you already have a support system -- after all, your parents and your spouse are supportive of your business -- that's great. But you also need to need to surround yourself with people who understand what you're going through.
If you don't have that type of support system yet, build it. Start networking with other local business owners in your area or get online and join some LinkedIn or Facebook groups for entrepreneurs.
Plus, according to Psychology Today, being a part of a group is motivating and increases feelings of warmth. This can be incredibly beneficial to you on the rocky road to starting a business.
3. Think about the long term, not just day to day.
As reported by the U.S. Small Business Administration Office of Advocacy, only about 50 percent of small businesses survive five years or longer. This statistic can typically be attributed to business owners getting caught up in the day-to-day minutia of the business.
Make sure to take some time each week to think about the long-term health of your business. Think about the goals you've set and how you'll get there. Do you need to invest in marketing or employee development and training, for instance? Planning for the future will help ensure that your business is around for a long time.
4. Grow your skills.
As a business owner, you never stop learning. You may be starting a business because you have a lot of knowledge and experience in a field, but running a successful business requires a wide variety of skills and expertise. So, as a new business owner, you'll need to be a jack or jill of all trades.
Spend some time growing your expertise in marketing, writing, SEO, bookkeeping, sales, general management, etc., to develop a well-rounded entrepreneurial skill set. There are a number of free resources online that can help you boost your skills. For example, HubSpot offers free courses on SEO, content marketing and more.
5. Start small.
Your biggest dream might be for your business to become a multimillion-dollar enterprise overnight, but that probably won't be your reality -- at least not immediately. Many new business owners try to do too much too soon because they think it'll bring them success faster, but it won't. Instead, start small and grow.
Starting small might mean bootstrapping your startup instead of trying to get a bunch of funding right out of the gate. It also might mean releasing one product or service first and getting some traction and experience instead of trying to put out an entire catalog of offerings. Starting small and giving your business time to grow will make things easier to manage.
Over to you.
Now that you're more prepared for starting your own business, what are you waiting for? 2019 is yours for the taking. With these easy-to-follow tips, you can ensure that this year will be the year your entrepreneurial dreams come true.