When you’re an entrepreneur, every day’s a school day

Running a business is a constant learning experience. You’ll face challenges you’d never considered, and have to meet criteria that leave you standing well outside your comfort zone. But at the end of the day, you’ll be more experienced and more knowledgeable for it.

Some of the advice you’ll hear will be specific to your industry or organization, but other pieces of advice are important for every budding entrepreneur to hear. These are the nuggets of wisdom which you should always keep in the back of your mind, in order to make the most out of your business’s success.

Here are 5 simple lessons every small business own should learn.

Play to your strengths

When you first start a business, you’ll be bombarded with people telling you what you should do. And while it’s important to listen to this advice, it’s also important to find the stuff you’re good at, and do what suits you. Only you know what kind of business model works for you, your team and your services.

People respond to authenticity, so find ways to run and market your business which you actually find enjoyable. In the early days, you can get away with dabbling until you find the niche that makes your business different.

Think outside the box

Another thing you’ll do when you start your business is take inspiration from other organizations and current trends. This is a great way to get inspiration and find your feet, but don’t let it stop you from doing your own thing too. Trends come and go, but they don’t need to dictate the way you run your business. When you see everyone else doing one thing, why not do something else? Or try doing the same thing but finding an alternative, better way to do it. Little changes like these will help your business stand out from the crowd.

Focus on one thing at a time

It’s all too easy for new entrepreneurs to become overwhelmed because they’ve started their business and have immediately tried to master every single area. Nobody has the capacity to be the best at everything, that’s why you hire employees, outsourcers or freelancers to offer their expertise in areas that you aren’t as proficient.

For example, when it comes to marketing, try to really hone in on one tactic or social channel, and build an audience you can use when exploring other areas.

Ask yourself: what will my audience connect to? What will help you reach your goals? What will you enjoy?

Stop holding yourself back

Whether you think you can or you can’t, you’re right. Those are the words of Henry Ford which perfectly sum up life as a new business owner.

Worrying and doubting are two of the biggest enemies of any entrepreneur. You need to find that perfect balance between thinking things through thoroughly, and trusting your instincts. Your mindset may be the thing that’s holding you back most, so don’t be afraid to take risks and trust your own capabilities.

Ask for help

Starting a business isn’t a destination, it’s a journey (to use a well worn cliché), and navigating the choppy seas of running your own business can feel like a lonely one. That’s why you should always seek help from others who can guide you along your route and assist you in getting to grips with the task at hand. Don’t be too proud to ask for help, because that’s the best way to learn.

TEDCO Business Support have supported thousands of business start, grow and achieve sustainable success over the last five years. And your business could be next!

 

Get in touch with TEDCO Business Support today by calling 0191 516 61 02 or by emailing our experts at hello@tedco.org.

What we offer

TEDCO offers one-on-one support provided by a dedicated team of business advisors and a range of pre start seminars available to clients who are taking the first steps into self-employment. This could be looking at an initial idea and developing it further, looking at how to start a business plan, business competitors, business marketing.

Are you eligible?

If you are looking to start and grow a business we’d love to hear from you. Our friendly team of experienced Business Advisors are on hand to take your call to discuss the support available.

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