Elsa Caleb, a Business Advisor at the government-backed Start Up Loans Company, shares the top three habits you should have to run successful business alongside your family.
- Plan your month and year in advance
A typical example of planning in advance is Christmas. If you were working on a Christmas campaign, consider starting to plan in the height of summer. For businesses, early planning and preparation is vital to your success. Especially as Christmas is usually very busy, you need to ensure that you have the right number of staff, enough stock and continue to maintain the quality of what you provide.
It’s worth keeping a calendar of upcoming occasions and events to plan your campaigns around. Keep in mind the big holidays like Mother’s Day or Easter, but take into account the less known ones too – like International Sushi Day.
Holiday’s aside, it’s important to know exactly what is going on in your business at any given moment. Keeping a close eye on your monthly and yearly targets, expected progress and profits is vital.
- Get your personality out there and become the face of your business
Nobody knows your business better than you.
If you want to become successful, you’ve got to be an advocate for your business. When people think of Apple, they think of Steve Jobs.
Being a successful businessman or woman isn’t just about clever marketing or coming up with a new invention, it’s also about identity. You’ve got to put your face to your company and represent your brand as best you can. Remember people do business with people. You are your brand.
You should always be professional, have faith in your business and be approachable. If you’re shy, why not invest in some public speaking lessons or test your skills in front of the camera? This will help your confidence when it comes to dealing with clients and the media.
- Find a mentor who you aspire to be
Not many business owners would be where they are today without guidance from a mentor. Your inspirational figure can be anyone; a family member, an ex-colleague, an established businessman or woman. Someone, who has walked the journey that you are planning and has the success to prove it. To help you find a mentor, attend networking events or get in touch with local business individuals who are willing to guide you through the maze to success.
After choosing your mentor, you should do everything you can to listen and learn from them. Let them know how and why they’ve inspired you.
Business is all about taking your chances and making the most of a good opportunity. Pluck up the courage to approach your mentor. Be prepared to be taken out of your comfort zone. Nine times out of ten they’ll be flattered and will be willing to assist you to move to the next level – even if they’ve heard it a thousand times before!
Starting a business as a parent
The Start Up Loans Company carried out research focusing on British business dreamers. The study also focused on parents and their business goals.
- Three quarter of British parents would like to start a new business.
- The top five attractions for parents are; increased flexibility, opportunity to be their own boss, potential earnings, pursuing a hobby and sense of self-achievement.
Interestingly, number of children vary parents’ attitude towards being self-employed.
Almost two thirds of parents with three or more children have considered starting their own business.
Parents with one child cite potential earnings as the most attractive part of starting a business. On the other hand, parents with four children place the highest importance on being their own boss.