Dreaming of Setting Up Your Own Business?
Dreaming of setting up your own business?
Join the 4,000 women who launched their own company last year
Have you ever gotten out of bed in the morning realising that your heart just isn’t in the job you do? If so, maybe you are ready to start your own business. There are a lot of corporate warriors out there and in the last financial year, there were almost 10,000 new businesses established in the UK, and of these new companies, 41% were founded by women, according to the Start Up Loans Company’s internal data. The majority of these female-led businesses were opened in London, followed by the South West and the West Midlands.
Women aged between 31 to 49 years were most likely to open their own firm last year, with a half doing so. The 25-30s category was not far behind either, accounting for over a quarter of new businesses. Following suit was the 18-24 year olds (14%) and those aged 50 and over (10%).
The most popular industry for female business owners was retail, followed by accommodation and food services.
This is great news! But before becoming an entrepreneur of your business and life, you have to think about why you want to start a company, what your future looks like, and what are your next steps?
We’ve asked expert, Elsa Caleb, from the Start Up Loans Company to list top three habits you should have to run a successful business.
1) Start by planning everything in advance:
A typical example of planning in advance is the festive season. For example, if you were working on a Christmas promotion, consider starting to plan in the height of summer. Early planning and preparation is vital to your success. Make sure that you have the right number of staff, enough stock and continue to maintain a quality service.
It’s worth keeping a calendar of upcoming occasions and events to plan your campaigns around. Keep in mind the big holidays, but take into account the lesser-known ones too, if they are related to your business.
Also, it’s important to know exactly what is going on in your business at any given moment. It’s vital to keep a close eye on your monthly and yearly targets, expected progress and profits.
2) Nobody knows your business better than you.
So let your personality shine through and be the face of your business. If you want to be successful, you’ve got to be an advocate for your business. When people think of Microsoft, they think of Bill Gates.
Running a successful business isn’t just about clever marketing or coming up with a new invention. It’s also about identity and brand personality. You’ve got to put your face to your company and represent your brand as best you can whether that be in client meetings or across social media. Remember people prefer to do business with people.
It comes without saying that you should always be professional, approachable, and have faith in your business. The best recipe for success is confidence and quality. If you’re shy, it might be worth to invest in a public speaking lesson or test your presentation skills in front of the mirror. This will help to build up your confidence when it comes to dealing with your audience, clients and the media.
3) And finally: find a mentor who inspires you.
Not many business owners would be where they are today without guidance from a mentor. Your inspirational figure can be anyone; a family member, an ex-colleague, or an established businessman or woman. Don’t hesitate to contact someone who has walked the journey that you are planning, and has the success to prove it. And if you don’t have a mentor yet, attend networking events or get in touch with local business owners who are willing to guide you through the maze to success.
After choosing your mentor, you should do everything you can to listen and learn from them. Let them know how and why they’ve inspired you.
Business is all about taking your chances and making the most of a good opportunity. So pluck up the courage to approach your mentor!