How to successfully launch your new business
Launching a business is like going on a journey to a new destination.
Like any journey the key is to know where you are starting from and where you want to get to and your preferred method of travel which is likely to be dictated by the resources you have.
The starting point to launch your new business
You will never reach your destination if you are unclear about where you are starting from. In business terms this means what skills and resources you have and who you know.
Capitalising on these will give you a strong launch while ignoring them will mean you miss opportunities. It is true that in lots of businesses you could sell to ‘anyone’ or ‘lots of types of people’ but the best thing you can do if you are starting something new is to at least target people you know or ‘similar kinds of people’.
If you are launching a business in Yorkshire targeting local people, for example, this gives you a focus and is a good way to start.
If you have no clear goals or destination then how will you ever get anywhere? The danger is you will wander in circles. Your destination needs to inspire you and keep you motivated when the journey gets tough.
You may know your ultimate destination – your vision of how your business will be in 5, 10 or 20 years or you may just have a goal for this year; the critical thing is to have a goal and this will dictate how you operate your business. It will also allow you to calculate your potential income.
If you want to stay small and local then you will have one way of working, if longer term you want to go national by franchising, for example, then you will need to think in a different way even if to begin with you will be small. There is lots of evidence that writing down your goals will make them more likely to happen and being accountable to a coach or someone else will increase your success even more.
The route and means of ‘transport’
Once you know where you are starting and where you want to get to, you can plan a route, an action plan or business plan. But like any route you might hit unexpected delays or problems so the critical thing is to be flexible and willing to change route as needed. It goes without saying this also means you need to track your progress.
How you will travel depends on your resources – most of us don’t travel by private jet as we can’t afford them, even though they would be the fastest way to get to the destination. Similarly, you may not be able to have the perfect vehicle/business infrastructure to start – working from home may be necessary to save costs and doing things that ideally you’d get others to do. The planning will allow you to identify the costs and what you can afford to do to achieve your goals.
Just like a journey, when you launch your new business it is exciting and you need to enjoy the journey as much as the arrival. You can’t possibly be an expert at every aspect of launching a business so seek professional help and support from professional business mentors and coaches who can help you.
Blunt thinking on how to launch your new business – Yorkshire Powerhouse
Have you any questions?
Here at Yorkshire Powerhouse, we’re happy to help as much as possible – is there anything else we can do to help you, do you have any further questions or can we help introduce you to an expert – please let us know:
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