5 Tips For First-Time Business Owners

New business owners often find themselves wondering, “What do I do now?” once they have gone thru the process of setting up a new business. You have perfected your skills working for someone your entire life and know you can do it better than they can. However, taking the leap into the world of entrepreneurship is just the first step. You now have to make sure your small business is successful. Here are 5 tips to help your small business hit the ground running.

1. Focus If this is your first small business, you need to avoid getting side-tracked. To maximize your productivity, focus on a few short term company goals that are most important to you. There are limitless ideas and opportunities out there, but you can’t do them all at once – especially right away. Identify 2 or 3 goals that you can achieve in the next 6-9 months. The more balls you have in the air, the less effective you will be at the things you do best. Focus on those core ideas and remain focused on them for as long as it takes to achieve them.

2.Short and Sweet Now that you are the captain of your own ship, you need to know your services and goals like the back of your hand, and you need to make it short and sweet. You are now going to encounter potential customers and clients every day, and first impressions are imperative. Be able to tell anyone and everyone what your company is all about in less than 30 seconds. This is commonly known as your elevator pitch. When you are clear and concise about your services, it makes you credible and reliable. Don’t take 5 minutes to talk about what your small business does; make it simple and talk about what problem or problems your small business solves, who you solve them for and how you solve them. The person you are talking to should fully understand what your business has to offer after those 30 seconds.

3. Educate yourself on a daily basis You may think you know everything about running a business, but you don’t. Nobody does. Surround yourself with other experts and business people in your industry, because each one of them can make you better at what you do. Be an avid listener and pay close attention to people who are successful, and note why and how they have flourished. Be willing to learn something new each day. The more contacts you make, the more you will learn about how to continually grow your small business.

4. Do it NOW While it is important for you to carefully plan things out, you won’t become a true entrepreneur until you have had real experience. Even if you think you have a great plan or idea, you have to put that plan into action and test it. Don’t waste half a year planning something out only to find it doesn’t perform when put to the test. Come up with an action plan and tackle it. Don’t be afraid to test the plan on your colleagues and other friends in business. Life is not a spectator sport, so don’t make doing business one either.

5. Be Healthy Staying healthy should be a primary goal for everyone that is connected to your small business. Don’t laugh; research shows that a healthy body and mind translates into business success. The healthier you eat and the more you exercise on a daily basis, the more productive you will be. This is a guarantee. Even if running for 5 minutes in the morning or eating well balanced breakfast doesn’t do much for you physically (it does), your mental state is fresh and crisp and you are ready to begin your work day with our first tip – “Focus.”