How to start your own business
1. FIND YOUR MOTIVATION
To start a successful business, workers must identify what the motivation is behind their idea or decision. Shuttleworth says her motivation was more than financial. “It was about experiencing being my own boss, being self-employed, having a flexible lifestyle and doing something that I enjoy,” she says. “Know what your motivation is and make sure you come back to that when making decisions.”
2. CREATE A BUSINESS PLAN
Before getting stuck into making the business idea a reality, draw up a conservative plan. “And if it doesn’t add up, don’t do it,” Shuttleworth says. “Know when to cut your losses and know when to not get in over your head.”
3. STUDY BUSINESS MANAGEMENT
A qualification will help cement existing business knowledge as well as teach you new information and methods. “But don’t necessarily think the textbooks are always right,” Shuttleworth says. “If you are in doubt, apply common sense.”
4. TREAT YOUR CUSTOMERS WELL
Customers are essential for any business to have lasting success. “Remember, marketing is not just flyers and websites, it’s everything you do,” Shuttleworth says. “Always value your customers and let them know they are valued. Treat your customers like you would want to be treated.”
5. DO WHAT YOU ARE GOOD AT
Stick to work which uses your talents and abilities and pay others to do what you are not good at, Shuttleworth says. “I find that having a business coach in Julie Stevens, from Women on the Rise, is really good, as I have someone who I am accountable to.”
6. NETWORK AT EVERY OPPORTUNITY
Business people will never know from where their best customers or connections will appear. “You can’t speak to too many people,” Shuttleworth says. “But don’t try to be everything to everyone. If you are not sure whether to do something, go back to why you’re doing this in the first place remember your motivation.”
7. HAVE INTEGRITY
Being successful also comes down to personal satisfaction and your reputation among others. “Always act with a high level of integrity, whether inside or outside your business,” Shuttleworth says. “It will help you enjoy your work and have a sustainable income.”
