Five Things you Must Do to Have a Successful Start -up
In recent years there has been a surge in the amount of small and out of home businesses throughout the North West. These businesses have innovation at their core, demonstrating that the Entrepreneurial spirit is alive, and thriving.
Londonderry chamber of Commerce believes that a lot of these start-ups have the potential to grow and be the great success stories for the North West. So with that in mind we have our list of Five Things you MUST do to make your Start-up Successful.
1. Do your Research: You may love what you are doing, but are you sure there is a need for your product or service.Seek mentorship, ask around and learn first-hand from various viewpoints of your industry, and find a unique way to do something better.
2. Work EVERYDAY:You may not have your success immediately, but it is essential that you work every day on your business. Make it part of your daily routine, create, promote and plan continuously.
3. Proper Pricing:This is, possibly the most difficult task, and will probably take you out of your comfort zone but if you’re serious about making a business from your passion – then you have to attach a value to it. If you need help figuring out how to price your services or products, you can contact your local council for one on one finance and business planning advice.
4.Be Professional: When starting and promoting your new business, you will(hopefully)be meeting with a lot of influential people and potential customers;all offering you advice and feedback. Take as much feedback from as many people as you can about whatever idea you have...Seek critical feedback. You don't have to agree with them or necessarily follow their suggestions, but always be polite and professional in your correspondence to vendors and customers.
5. BELIEVE in yourself: If you don’t believe in yourself or your product then it will be a lot more difficult to make your business a success. Be confident in your products, but be open to changes and improvements.
Did you find these tips helpful? Are you starting your own business or are you successfully running your own small and growing business? Feel free to add to our list by commenting below or get in touch to tell us about your experiences.
Londonderry Chamber of Commerce are holding a series of Entrepreneurship in action workshops. The next of which is a site visit to C-Tric to see innovation in practice.