When you’re excited about starting your business, it’s natural to focus on the tasks that are easiest to handle and that have the greatest benefit to your blossoming business. That’s great, but there are a few important things that many new small business owners often overlook. The tips below will help you navigate these tricky topics and make sure you’re not overlooking any important parts of your business.
Always working to acquire new customers
The thrill of reaching your first customers is exhilarating. You finally see that your business is off the ground, and you should take a moment to celebrate your success. But don’t stop reaching for more and more customers, or you’ll lose momentum.
Make sure you continue to run your marketing machine so that you’re constantly working to acquire new customers. Dedicating a staff member to own this responsibility is one way to make sure your business doesn’t slow while still allowing you to focus on overall operations of your business.
Not spending money on unnecessary things
Early on in your entrepreneurial journey, you’ll be focused on keeping low overhead. But in the whirlwind of launching to your first customers, looking for work space and talking to potential employees, investors or partners, it can be easy to forget how important it is to keep your costs low.
In your first year, it’s critical to put a tough filter on all of your expenses. Tracking with spreadhseets and comparing week to week and month to month will help you identify areas where you may be unexpectedly spending too much. And continually tracking means you’ll catch these expenses early and be able to adjust accordingly.
The power of partnering with other businesses
As a new business owner, it’s natural to want to keep to yourself: you have important decisions to make, endless amounts of work to do, and you want ownership of your business at this critical time. One mistake many new business owners make is to take this ownership a little too far, overlooking opportunities to collaborate that might take their business to the next level.
Keep an open mind when it comes to partnerships with other businesses. As you meet people in town or through networking events, it can be helpful to get their perspective on how your businesses might benefit each other. Pay particular attention to businesses that have customers that you might otherwise have trouble reaching.
As an entrepreneur, your plate is always full. Keeping an eye on all of these moving pieces will help make sure your business is successful for the long-term.
Questions about starting a business in Tampa? I can help! Contact me.
Image: Eneas De Troya
I highly recommend you must read the eBook on what you need to have for starting a business in Tampa, I believe you’ll get a lot out of it. If you haven’t claimed yours, go and grab it now for free! See you inside – I can’t wait to start working with you! We’re better together!
