If you had one piece of advice for someone about to start a new business, what would it be? 🗣

[isabelle]

Hiiiiii Seller Community! 

Hope you're all having a wonderful Wednesday ☀️ 

Today, we'd love to hear about what piece of advice you would offer someone who is about to start a new business? This can be related to your industry, or just general business advice! 

We look forward to your replies ✨🤓

[Dezallday]

Remember ..that all money is good money..

[jaxnkicks]

make sure all your ducks are in a row before you go live. yes you are eager to get your product or service out there. we have all been there. however, there is a high chance that if you go live too soon, you will likely make the mistake of under pricing, changing your logo, changing your aesthetics, the list goes on. basically, make sure you like what you have going on and that you have coordinated every tiny detail down to the cost of those miscellaneous items you use to make your product like super glue or glitter.  

[JenTom1709]

Starting  a business takes more hours than there are in the day.   Square is so user friendly, it is set up complete common sense, I jumped in without reading every option available  and was able to just get a handle on my 15,000 plus different items numbers of inventory and organize to easily search and find my items, I am mom & pop type store so knowing this info  as easily as typing in the part number was essential.   I'm four years in now and utilizing all the advantages Square provides, and pleased with every new update they create.    I couldn't be more pleased with my Square inventory, register, and credit card scanner.    If I ever have a lag within my square inventory that I can log into from anywhere, it provides me with up to date detailed notes on progress of fixing the blip, which is rare, always brief, but helps me from ripping my hair out that it is our internet, oh no it clearly says  Square is having a quick update being installed and shut down for an hour or so, etc.      Always reliable access to your Square inventory !    Reports and that data tracking is priceless to our small business.    Loyalty program really helps bringing customers back into your store.    I can't say enough good things and zero negative since day one.    

[tazachary]

Calculate your break even on day one. 

[AIRPLAYEXPRESS]

Follow that dream, but have deep pockets and work long hours. Don't let debt run your business. If it 'Ain't' fun, don't do it.

[Minion]

LIke @JedThompson  stated, Give yourself a break.  Its easier said than done.  Most if not all small business owners feel like if they aren't doing anything, no matter the size of the task, then its a wasted day/time.  Find that balance and shut down and enjoy the time with friends and family. 

I'm probably my own worst enemy when it comes to finding a balance.  Being a one man show, between the actual work, marketing, accounting, web seo, sales etc etc it gets tough.  But I've set up an auto reply on by business cell phone that starts at 4 each night and it goes to silent and on Sundays it gets shut off completely.  Baby steps they are 🙂

[TomTurner32]

Statistically, most new businesses fail and almost all of them from 1) lack of capital and 2) lack of clear direction.

Having ample capital combined with vision and mission statements and goals and objectives will help. If you don't 

know exactly what your "mission" really is, then get help from someone who has experience, not "knowledge", 

and find one. That can help you determine your first goals and objectives, so you can track how well you're doing.

It's not just about money. A new business could thrive (financially) for a brief period just because it's new or unique, 

but without setting goals to position the company where you want, you won't know how you're really doing. Then 

when the newness wears off, you're no closer to having an established customer base and the capital will leave

very quickly.

[Brianbb]

Know your Type of Industry thoroughly.  Product knowledge is the key!!! 

[Angelia61]

If you have a person that can mentor you in the field you opening a business in. And work in that field for a few years to really see if that’s  what you really want to do. 

[T-AviationLLC]

I know this goes against some philosophies, but You must rethink how you see time....  You are either all in or not...  If you plan on being truly independent, then there is not going to be a stable Mon-Fri 8am-4pm schedule if you provide a service...  Clients expect you to serve at their convenience; not yours...  Get use to this sooner rather than later...  To measure any kind of long term success, it takes sacrifice and loyalty to your brand...       Side note:  Square makes things a whole lot easier.....

[Turtle3]

Make sure your to always have your work organized!

[yourcbdhaven]

Be well capitalized. 

[YodieLadyWho]

Of course you need to offer an excellent product or service, but its just as important to make people feel special and mean it.  Greet with a sincere smile, ask about them, tell about you, remember their name and details.  Everyone loves coming into a business and have the owner stop and holler out "hey joe, hows it going today?".  People love to have a friend who owns a business and theyll spread the word for you in the best way by referring their friends and family.  Theyll root for you.  Theyll support you in a crisis, as weve found out this past year.  We truly love our customers like family and they know it.  Customers make your business more than anything and you can never let that slip.  Watch that carefully when you hire employees.

[DavesAuto]

Use Google to promote your business. People relying solely on word of mouth or social media will fall short. People use search engines to find things and get it done and use socials to BS and waste time. 

[BSLprints]

Respect your employees and their time - make them feel appreciated. If you can't afford to pay them well be sure to make up for that in other ways like flexible scheduling or the ability to purchase things at cost. If you really want to go the extra mile, consider making your business a cooperative where all employees have the potential to become part owners.

[Zulla]

The simplest advice, as some above have mentioned: Don't spend a bunch of money. Google Business, Facebook etc. are free to advertise. Same goes for word of mouth (still the best). As things pick up, you can start spending more. 

https://zullasblog.medium.com/youve-started-a-business-great-now-stop-af27fac8277b

[gwenlenore]

Realistically project the amount of time per day that you will personally work in and work on your business.  And then, double that amount of time.  Then ask yourself, Is this the amount of working time you would really like to do?

[lelelucy]

know your  market

[Twanna]

My advice would be to just start!  There is no perfect way to do it and procrastination will lead you no where.  Get started stay committed to your business and learn as you go.  

[Vaughn1]

Work 24/7. Believe me, it pays off. You can get your off days when you've earned them. Also, don't be afraid to leave behind things that aren't working and reach for things that you're not sure of. Most of the time this pans out since you know your business. These "leap of faiths" set you apart from the rest of the crowd. 

[Blendmasta]

If your about to start a business make sure your company is structured and creativity saves money.