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Starting a business effectively

The question of how to start a business with confidence and an eye on the long-term plan is a difficult one. Many people think you can find a niche, jump into it and dash along the path to success… the reality of starting a business is rather different.

The first question to ask when you consider starting a business is, are you in the right area? Just because something looks profitable and you’ve read about other people making a success of it, doesn’t mean it’s a fit with your own skills and passions. Are you really interested in this particular area of business? If so, fantastic – your passion and energy will make a real difference to how you run things. If not, maybe starting a business in this area isn’t for you.

Surrounding yourself with business angels is another key step in starting a business. You’re not meant to know everything – what your clients and suppliers want to know is that you understand your particular area of business. Find mentors. Read about other people’s experiences in business, and don’t be afraid to admit to yourself that you’re still starting out on the journey of starting a business.

A particularly important step to remember when you’re starting a business is to remain grounded. Sure, you’re the first person doing exactly what you do, exactly the way you do it – but that also means you still have a lot to learn. Behaving in a professional way will earn you far more credibility than all the overwrought sales pitches in the world. Nobody likes a show-off, especially when their facade of confidence and business experience is so brittle.

At the end of the day, no plan is completely watertight, so starting a business – and sticking at it – means you need to be able to adapt to changing circumstances. And if things really don’t go to plan, don’t be afraid to let go. Sometimes, the most profitable thing you can do is to know when to quit – as long as you learn from your mistakes, and don’t make them again.

Are you interested in starting a business? Get in touch and Agenda can become your very first business angel!

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