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Running a business is an adventure and whether you’re planning to be a sole trader, freelancer, small business owner, or even a shop owner, the following 5 tips will help you on your way.

Plan

There’s an age-old saying that states “fail to plan and you prepare to fail”. So, whether you’re a freelancer or wanting to expand then you need to plan. For example, how much are your monthly costs and how much profit will you need to be successful?

Once you’ve worked that out, how are you going to generate revenue? Will you need to get out there and speak to potential clients, build an online presence, or even open a shop? These are all questions that will form part of your plan moving forward.

It’s best to have a clear idea of what you need to achieve and how you are going to achieve it before you start, as well as researching the competition.

Be absorbent

It’s important when you’re a budding entrepreneur to be like a sponge – absorb everything. Listen to what your friends, family, experts, and investors have to say about your business. They may help to spot potential in places you may have missed or even identify mistakes.

When you tell people about your business idea, look at their body language to ascertain whether they like it. Tell people to be honest with you because their opinions may reflect what the consumers may think, too. It’s best to hear the truth early on.

And always listen to other people’s ideas, too, you never know when they may be useful.

Be Creative

Don’t be scared to be creative with your business. We don’t mean you need an arts qualification; creativity can be implemented anywhere in business. Think of ways you can help your small business or start-up stand out from other competitors.

Get online

If you’re not already, get online. The web has potentially millions of customers waiting to discover your small business. If you’re strapped for cash, you can create a free website using services like WordPress or Wix or build your social media presence across a variety of platforms.

Be engaging with your audience and create content which helps to address a problem they may have. You can use your online presence to create blog articles, videos about your product or service, run competitions, and even offer discounts.

Set specific goals

Setting specific goals at every stage is important. Although making money may be your goal but most small businesses don’t make a million-pound profit in the first year of trading. So, set smaller specific goals to make them easier to obtain.

Summary

Running your own small business should be a rewarding, satisfying and enjoyable achievement but it takes dedication and hard work. Overall, it is important to enjoy the process of planning, launching, and running your small business and these 5 steps are designed to help you do that.

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