We have been focussing this month on young Entrepreneurs and the many ways Virtual Assistants can help them launch a new business. This article looks at a few practical tips on how anyone, at any stage of their life, can start a new business. It is a big subject but here are four basics that we believe are great advice for start-up businesses…
Find a gap in the market
It is essential to ensure that the product or service that you will be providing is in demand within the scope of your capabilities and your operation. Little point in creating a small take out when there is a McDonalds on the corner of the same street.
Observe your opposition, area and your market for what you are providing. It could be an online e-commerce business too, so again assess your competition and find a gap in the online market to provide something either unique, or so in demand, that you can’t fail if you provide it.
Do your set up properly
Don’t just go wading into this and start a business without setting it up correctly. Remember there are certain legalities and financial obligations (including taxes) that need to be complied with and a good Virtual Assistant can assist you with the right people to do these for you.
They can also assist with finding a good Business Coach who will help you to create an effective business plan. This is essential not only for the long term goals and management of the business but to assist with the raising of start-up capital and ‘cushion’ capital for at least 6 months.
Do effective marketing
Whatever you are selling, regardless of how special it is, it can’t be sold if people don’t know about it. Ensure your start-up capital includes a marketing budget even if it is just to join an established network, or buy a good database, or at very least do organic Social Media marketing. This is another area in which a versatile Virtual Assistant can assist you.
Partner with good, outsourced services
At the outset, don’t burden yourself with the costs and headaches of hiring permanent staff. Before you get really busy you may have people on a payroll that can’t be kept occupied all the time and that is just a waste of money.
Many businesses today are building an entire business around outsourced services and at the hub if these should be a well-connected Virtual Assistant company like V-Assist. We can ensure that whatever service you require we can either do it or source it for you – so you need only engage with us and you will have all the help you need under one roof. Now that’s great advice for start-up businesses!