It's Start Up September, but will your start up be succesful?
September - we’re going back to school and college, reverting to routine and reaching for our Autumnal jumpers. There’s a shift business-wise too - more Start-Ups than ever will launch this month.
As employment grows increasingly more precarious while the gig economy and zero-hour contract rates rise, more and more Start-Ups launch every year, with over 650K new businesses founded in 2016 across the UK, (source.) If you’re considering trying your hand at launching a Start-Up, we’ve put together some insider secrets to help your journey into business management run seamlessly.
1. Networking: you can even do it in jeans
Networking is loved and loathed in equal measure by many. While some value the opportunity to speak with other business people, others will avoid the sterile, corporate setting that networking events can bring. Networking has a reputation for being pushy and impersonal, but it doesn’t have to be. Seek out any and all opportunities to connect with others, get to know people, engage in interesting conversations, and familiarise yourself with your community.
Check Eventbrite for seminars or business sector specific events, or use sites like MeetUp.com to find occasions that you can come away from with ideas, inspiration and encouragement rather than a handful of crumpled business cards.
2. Patience: success is not built in a weekend
The clue is in the name - when you launch a start-up, you’re starting entirely from scratch, so accept that it’s going to take some time. It will take commitment, dedication, determination and time to see your vision flourish into something tangible. Pat yourself on the back and celebrate every achievement, and remember that pulling into the layby doesn’t mean you won’t reach your destination, just that you might be more comfortable when you do.
3. Seek Support: don’t be afraid to ask for help
Only 16% of small-business owners are 35 and under, (source.) Although this may be a surprising statistic, it means there are plenty of people older, (and potentially wiser,) who can give you a helping hand. Don’t be afraid to show some vulnerability, ask for support and take advice on board - it’s the only way to move forward.
4. Consider Collaboration: two heads are better than one
Your odds of success will be significantly increased by co-creating your project and running it alongside someone else. Statistically, you will raise 30% more investment and grow your customers 3 times more quickly, (source.) As well as the benefits to your financial growth and customer base, the ability to rely on someone else, share burdens, bounce ideas back and forth and motivate one another are essential during the early stages of a new business. If you’re determined to go it alone, consider our next tip.
5. Join a Community: independent working doesn’t have to mean working alone
Consider using a coworking space or joining a hub to run your business from. Working from home might save you some pennies but can be isolating, distracting and dull. Coworking spaces are filled with other creative individuals in similar situations, meaning you’ll have opportunity to connect, collaborate and develop your business beyond your original vision.