Top 5 Tips To Launching A Successful Business From Someone Who’s Actually Done It
Do you have a business idea brewing in the back of your mind? You’re not alone. About 15 percent of Australians aged 18 – 65 currently call themselves entrepreneurs.
Unfortunately, two-thirds of them won’t make it past three years before they throw in the towel.
It’s a jungle out there.
Giving your fledgling idea a better chance of success might mean taking cues from someone who’s nurtured their own into a strong, healthy and profitable business.
Skye Anderton is one such person. Her bold and colourful jewellery brand Ruby Olive has grown from a small market-stall operation to being stocked in over 150 stores. Not only that, she’s got a Telstra Young Business Person of the Year award under her belt, and is a Tedx speaker.
Anderton told ten daily her top five tips to getting a business off the ground from scratch. She touches on everything from getting to know your target customer and processing feedback, to the importance of backing yourself every step of the way.
Oh and then there’s her pick for the most underrated yet valuable part of running a business. It’s probably not what you think ...
Pens and notepads at the ready?
Mindset is key
Getting your head in the right space is essential when you start a business. There's so much judgement and criticism especially in the early stages when you have nothing to show for it.
It's a brave move to jump into the unknown, so many people just can't relate to why you'd leave the seemingly consistent employment world to do such a thing.
It's important to surround yourself with people that are positive and uplifting too, as business is a massive roller coaster of emotions -- high highs and incredibly low lows. Sometimes you'll need to dig deep in order to pick yourself up and keep moving forward.
It's also so important to act with confidence. If you're not confident in your abilities, how can you convince your potential customers?
Who is your customer and what message are you giving them?
Get clear on who your customer actually is and what message you want to give them. Find out as much about them as possible and where they 'hang out'. Are they on Instagram or on LinkedIn? Do they visit a specific kind of blog, watch certain TV programs or are they attracted to a key influencer?
Once you've worked out exactly who your specific audience is start moving in those circles ... and yes, you need to get specific – for example: Women aged 30-40, interested in healthy eating choices for their kids, who prefer wholesome organic food, but don't have time to cook it as they lead busy lives, they are also influenced by other mums in private Facebook communities.
It's important to constantly be trialing your message and listening to feedback -- especially in the early days. It's important that your marketing message is clear and in line with the audience you are wanting to attract.
Don't be afraid to pivot in messaging and audience at the beginning when you're still working out where you fit in the marketplace.
Be more than profit
Sure, everyone dreams of a juicy profit when you start a business but I think it's important to find out exactly WHY you want to start your business in the first place.
People buy from people and/or products they feel connected to. If you can make a connection with someone based on how your product or service will positively impact their lives, or the lives of others, it's going to leave a much more lasting impression which in most cases increases profits as a result.
Learn, learn, learn
The more you learn, the more you improve, the more you improve, the more you can succeed. Continuing to learn and staying up to date with what's going on in your industry and related industries is essential in order to evolve.
Listen and learn from mentors, customers, podcasts, speakers, and books. Be a sponge and take in as much as you can.
Business is about evolving continuously, and making small improvements every day.
Systems and processes
This is such an underrated part of running a business. By documenting in an organised fashion every aspect of your business it means that you can constantly be strategising alternative and more improved ways to do things.
When you have great systems and processes, it's much easier to remain calm when problems arise, such as a staff member falling ill and not able to work for two months.
Skye Anderton is one of 14 entrepreneurs featured in award-winning technology entrepreneur and author Dale Beaumont’s new book, The Secrets of Successful Entrepreneurs Exposed, out now.
Feature image: Instagram/@rubyoliveonline