Opening your own business might be one of the most rewarding things you ever do, but it will also be the hardest. There are many important lessons you need to learn along the way, and fortunately you can learn pretty much all of them just by watching Ghostbusters.
The movie about a plucky young enterprise that defies the odds to become the most successful game in town is chock full of advice, tips, and tricks for budding entrepreneurs (also: ghosts, and a certain amount of busting. This may or may not be useful, depending on your current business plan).
1. Hire the right team.
Your ideal staff should be motivated, idealistic, appropriately skilled and completely immersed in your brand’s message.
2. Find a niche and fill it.
Look for a need that no one else is currently fulfilling, and make yourselves the perfect fit for that sweet, sweet gap in the market.
3. Look for appropriate funding.
You want to be sure your fledgling company is built on financial stability, not crippling debt.
4. Have realistic expectations about the world of business.
It’s a cutthroat world out there, and you need to be ready to tackle it on your own.
5. Know how to speak the client’s language.
If you can’t talk to them on their level, you’re going to lose.
6. Price your product in a fair and reasonable way.
Your customer should feel confident that your services are worth every penny that they’re paying.
7. That said, prepare to be a tough negotiator.
Everyone wants as much as they can get for as little as they can pay, so be sure to stand up to those looking to rip you off.
8. Always make a good impression on your clients -- especially in the early days.
These customers are the foundation of your company, and their word of mouth is the best marketing you’ll ever get.
9. Remember to inspire and motivate your employees.
Make them feel a valued, vital member of the team.
10. Handle all your business interactions in a mature and adult fashion.
When it comes to business, you always want to be the grown up in the room.
11. Connect with your customers through a solid marketing campaign.
You want to inspire confidence with just the right balance of approachability and slick professionalism.
12. Learn to read the subtle signs of the market.
If you can’t spot impending trouble, how are you going to prepare for it?
13. Sometimes, the simplest solutions are the best.
Don’t over complicate things if the answer is staring you right in the face.
Your Numbers Guy is here to help!
Not staying on top of your small business finances, bookkeeping and accounting contributes to the high % of failures. With decades of experience in finance, supply chain, and process improvement I too have ventured into the world of small business and self-employment. My ultimate goals are to offer my experience and skills to entrepreneurs/small business where you have access to a professional CPA at affordable rates. At the basic level bookkeeping & accounting is available but the services we offer are much more than that.
I would look forward to having a conversation with you. Let's meet!