When I started my first business I was 22. That’s me in my very first Eat Fit Food van, snapped at Bondi Beach by The Sydney Morning Herald. I had no previous business experience. In fact, I dropped out of school and studied childcare the year after.
Then, one day after moving to Sydney, I was working as a waitress in Kings Cross. I watched closely at how my boss was running this highly successful restaurant, which turned into a nightclub after dinner. I was working my butt off and always felt undervalued for the effort I was putting in. So, one day, I thought, “if they can do it, I can.” I quit waitressing and started weekly trips to Flemington Market in my green Hyundai hatchback that had no air conditioning.
It seemed simple enough – buy the produce, make the meals, and sell them to all my friends who would tell all their friends and so on. The first orders came in via Excel spreadsheets, and we had a big whiteboard to write down everyone’s names and what they did not like in their meals. It was so exciting, overwhelming, and stressful all at the same time, but I had this undeniable belief that it would work which kept me going.
Starting a business is an exciting and challenging journey. As someone who has gone through this process myself, I know how overwhelming it can be to turn your idea into a reality. However, with the right guidance, you can successfully launch your own business and achieve your entrepreneurial dreams.
Here are six tips that I found to be helpful when starting my own business:
Firstly, I cannot emphasize enough the importance of developing a clear business plan. When I first started out, I was full of ideas but had no real direction. It wasn’t until I sat down and drafted a comprehensive business plan that I could see a clear path forward. It helped me set realistic goals, identify my target market, and outline a strategy to achieve success.
Secondly, knowing your target market is crucial. You need to understand the people you are trying to reach and what they need from your product or service. It is essential to do your research, gather data and insights, and use this information to refine your marketing efforts.
Thirdly, choosing the right business structure is critical to your success. When I started my business, I chose to seek advice from experts to protect my personal assets and provide flexibility for future growth. It’s important to research your options and choose the structure that best aligns with your long-term goals.
Fourthly, securing funding is a crucial step in starting a business. There are many options available, but it can be challenging to navigate the landscape. I reached out to potential investors, applied for grants, and secured a loan to help cover my startup costs.
Fifthly, networking is key to building your business. Attend events, join groups, and connect with other entrepreneurs in your industry. I found that the support and advice I received from fellow business owners was invaluable.
Finally, be prepared for the long haul. Starting a business takes time and hard work. It’s essential to stay focused on your goals, stay motivated, and never give up.
In conclusion, starting a business is a challenging but rewarding experience. With a clear plan, understanding of your target market, the right business structure, secured funding, networking, and determination, you can successfully launch and grow your own business.
If you are looking for help in any way with your business idea or expansion you can connect me here.
