5 easy Steps to follow when starting your own Business

You will look at the five steps listed below and wonder how that could be all that is required to set up a successful business. You will think to yourself, what about money. How do I market the business. Where do I start with all of this. Surely it must be a lot more difficult than this.

The good news is that it isn’t actually. Everything else you can learn by reading books, searching the internet, getting in accountants, marketers and other advisors. Stick to the following few principles and you should be good to start your own business.

1) The supporter
Get close and enthusiastic support. Have a look at how many big businesses started with at least two people. Bill Gates had Paul Allen when they founded Microsoft. Steve Jobs had Steve Wozniak for Apple. HP were Bill Hewlett and David Packard. Google had Sergey Brin and Larry Page. And there are many more.

There is a reason for this. You need support when starting a new venture. It can be really frightening trying to set up a business on your own. It could mean that you give up before you have a chance to make it. Most successful businesses have had to grow through some tough times. You need somebody who will be enthusiastic when you are ready to give up.

2) The team
Employ staff who share your vision. And if you employed staff who seemed to have shared your vision but eventually lose that enthusiasm, regrettably you will need to give them the pink slip. You cannot build a business with people who do not burn with the fire of enthusiasm for the product or service you are building.

3) The product/service
Decide on something that is unique. Customers will need and want to purchase this. It is not that important that you and your business partner know everything about the product or service. But it certainly helps. It helps to ensure that whoever supplies you or works on the product/service with you isn’t going to cheat you.

If you know you want to establish your own business but are not sure what to do, then have a look a trends. Watch such websites as TrendWatching or Springwise and follow the new stuff that is happening in the world. Adapt a product to fit in with a trend. Make sure to select something that gets your own enthusiasm bubbling over.

4) Be exceptional
Ensure that the product or service that you will be offering to your customers is exceptional. Do not waste your time producing a half baked offering. Your business will not last. Whatever you decide to offer has to be considered so good, that it is talked about. For further ideas on the concept of ‘exceptional’ check out Seth Godin.

5) Lead the project
Be prepared to take chances and make decisions to ensure that it happens. This is not the time to delegate. Ensure your team sees that you are prepared to lead and to make those awkward and tough decisions. They will follow no matter what.

What made me think of putting forward these points was an article I read. It’s by Josh Russell who offered a very good list of pointers for a web-app startup business. Although his points are set out differently to the above, they cover the same principles. Do it with a small team, be enthusiastic, do it well, be innovative and don’t rely on outside people to make it happen.