The 7 things you need to do when starting your own business.

1) Just do it! So many people never take that first step… start small (on the side if you have a full time job), but just get started!

2) Build your network (including having a mentor).  Surround yourself with entrepreneurs and people who are successful.  You will have so many people telling you that you are crazy… when you stress about money your mum/ neighbour/ friend will say “Get a job!” When you are around people who are in the same boat, and who know it is possible and who build you up, you will continue to chase your dream.

3) Plan Plan Plan.  If you fail to plan, you are planning to fail.  The first thing every business owner should do is write a business plan.  It may evolve over time of course, but if you don’t know what you are aiming for and how you will get there you will lose your way.

4) Hire a business coach.  Have someone who you can bounce ideas off, and who will keep you on track to your plan. Being your own boss can be lonely and often you need someone looking in from the outside to help you see the wood for the trees.

5) Focus on the bottom line.  It is so easy to focus on the fun and sexy stuff, but ultimately you are running a business to make money.  If you don’t keep a close eye on your profitability and cash flow, your business will go under.

6) Develop an strong marketing and social media strategy. If you don’t have a plan in place to grow the top line, the bottom line will not improve.

7) Keep the momentum going.  The dividing factor between those who make it and those who do not, is not giving up when times get tough!

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