Many tips online are bits of recycled advice that don’t work anymore. In this short article, we provide a few business start-up tips that maybe you haven’t heard about yet. Let’s dive right in.
Use Project Planning from the Start
New businesses often fail to use effective project planning to stay organised. Don’t make this mistake.
Focus on creating a list of projects supporting goals of the business. Break them down into actions required to achieve different parts of each project and assign the individual tasks to staff within the organisation. Then monitor the projects against completion dates to ensure the projects get completed on time.
Avoid Unnecessary Complication
To justify our existence, we often over complicate solutions. Doing this slows the whole organisation down because it’s focused around perfectionism through complexity.
Look to develop an initial product or service that meets the essential needs of the customer. Once it’s up and running successfully, implement new features to augment what’s already working well.
Plan to be a remote organisation for at least a year or two. This will reduce upfront expenses allowing the business more time to grow until it can support the cost of an office in the CBD, full-time staff and all the other expenses that go with it.
Embrace remote working and use freelancers for small tasks to avoid committing to large payroll expenses in the early months.
Be Minimalistic with Company Expenses
Avoid getting new business fever by going on a spending spree. Just because you have a business now, doesn’t mean you must buy a lot or purchase everything new either.
You’ll get hit up by many companies that scour news for new business registrations and hit those companies up for new sales. Avoid being tempted to spend, spend, spend.
Maintain Some Work/Life Balance
While there’s always more to do than there is time as a founder, avoid the temptation to burn the midnight oil.
Any creativity or drive that you have for the business will die out if your home life suffers. It’s important that you maintain an exercise program to stay fit and stay healthy. Don’t get consumed by the business, although it’s tempting to do so. Everyone needs a break from it, to come back fresh on Monday.
Not every suggestion above is obvious, and many aren’t implemented well, if at all. However, they each help founders of a start-up in different ways to keep costs lower, maintain their energy and vigour, and to stay organised.