STARTING UP A BUSINESS? ASSEMBLE YOUR SUCCESS SQUAD!

They say it takes a village to raise a child.  The same is true in small business.  We go into business because of a specific passion and then often end up doing everything but that most of the time!  Set yourself up for success by bringing in the experts early so you can concentrate on your brilliance.  Here are some key tips for the infrastructure and support you need to set you up for success from day one.

Think about gaining support in the following areas and ensuring every week you are giving time and attention to each:

·       Finance, Operations, HR, Product, IT, Marketing and Sales

• Finance

  • Day one – get a good accountant. They pay for themselves.

  • Don’t waste your time keeping spreadsheets of your expenditure. Use Sage or Xero from the beginning – they are so cheap and save you so much time and effort in the long run.

  • Trade services as much as you can in the early days – don’t be afraid to ask.

• Operations

  • Make a process for everything. Document it as you go. When you bring in more help later it’ll be easier to release tasks.

  • Get a VA when you reach the point of having to choose between making sales and doing admin. This is what I call an investment plateaux!

• HR

  • From day one you are the key ingredient in the product. Look after you like you would a member of staff.

  • Treat hiring staff with great care and take on an HR outsource team. They are super-affordable and accessible these days but like accountants, can save you a lot in the long run.

• Product

  • Get feedback and get it early from independents. Not from your friends and family – they often struggle to give you the feedback you need. You need to know early on if your product is viable so bad news here is good news and allows you to pivot.

  • You can pay for these services or you can just get out there and hustle for it.

• IT

  • Back-ups! Updates! Regular maintenance! Password Management! If you don’t, you’ll regret it. Most of this can be secured in cloud systems for small fees.

  • There are plenty of independent tech people out there that will look after you if you don’t feel confident with this stuff – but go on a recommendation to make sure you are not baffled in to work and systems you don’t need.

• Marketing

  • Canva, Pixabay, Buffer, Squarespace, Eventbrite, Mailchimp and Survey Monkey are marketing apps I use weekly and would highly recommend. Most have free versions which do everything you need. You could replicate all of this manually but remember your time is worth money.

• Sales

  • Do what you need to do to get comfortable with this as soon as you can!

  • You can hire a commission-only salesperson or service relevant to your industry but in the early stages of product refinement this might become a blocker to progress.

The more help and support you secure in the early stages, the more likely you are to succeed.  Don’t be afraid to say ‘I don’t know’ or admit that there is someone better than you to do something.  Appreciate the brilliance of others and bring it in as fire power to your business.

Tracy James is a Life & Career Coach and Team & Leadership coach based in Berkshire.  In her private ‘Aimed and Changerous™’ coaching practice she specialises in helping people gain control of their thinking to help them move towards more contented lives and careers. 

For daily self-coaching tips check out her Insta stories @brightyellowcoaching subscribe to her newsletter at www.brightyellowcoaching.com/newsletter, or book a free discovery session to explore how career coaching could support you.