Check out my article in the Daily Express today talking about how small businesses can not only survive but thrive in the downturn.
If you are considering starting up in business during this current climate, my advice to you is this:
– do your research. Are you sure there is a big enough market? Is there a gap not being filled by anyone else?
– in order to succeed you have to have commitment. Do you believe in your offering? Are you ready to work long hours and face possible cash flow problems whilst you are establishing yourself?
– remember that you need to spend possibly as much time promoting yourself and sourcing leads as you do actually running the business
– does your personality lend itself to being a business owner? You need a high level of communication skills as well as a tough skin!
– get yourself up to speed on modern marketing methods. If you think the only way to promote yourself is to put an ad in the local paper, then you need a professional like me!
– networking, either physically or using social networking sites such as Twitter, Facebook and YouTube are vital tools in sourcing new business.
– you WILL need a website. Research has shown that consumers now rarely use Yellow Pages and other such directories when looking for services. They will search online
Small businesses, although most often run on a shoestring, are more flexible, more cost-savvy and better able to match market demand than many other larger counterparts. By using the most of your business sense, there is no reason why you, too, can’t thrive in the downturn.