FIRST Class Accounts Lismore and Hayley Lewis have developed the following five tips for running a successful business:
1. Set realistic goals:
Understanding what you want to achieve is important and goal setting is the first step in realising your business dream.
The key to realistic goals is what and how you can achieve them relevant to the stages in your business and experience.
Set goals you can work to on a weekly, monthly, quarterly and yearly basis.
2. Seek the right assistance:
Getting help and advice from professionals is the most effective way to ensure your business runs as smoothly as possible.
It is unrealistic to expect to have the knowledge and expertise to perform all the functions necessary to run a profitable business.
Whether you need help doing the books, implementing HR strategies or developing marketing opportunities, consider what you do best and then outsource the rest.
Seeking advice from the right people early on can save you a lot of wasted time and money.
3. Be ready to work hard:
Running a business can be hard and a large proportion of success is based on the commitment and certainly initially the time you make to develop a successful business.
There is flexibility that comes with being your own boss but there is no escaping hard work, so make sure you love what you do as that helps to maintain motivation through the challenging times.
4. Leverage community marketing:
Generating awareness for your business through local area/community marketing can be very rewarding from a business and personal perspective.
Giving back to the community and supporting local organisations, either monetarily or in-kind will help expose your brand to the market and generate goodwill for you and the business.
It is a cost effective way to promote your brand.