This month (on the 23rd) Perfect Penny Marketing will turn one years old. I am both amazed how quickly it has past and how fun, tiring, amazing, hard, exciting and draining it has been.  The one thing I know for sure is that it was one of the best decisions I have ever made.

Having made it through year 1 and previously had a social enterprise. I would like to take this opportunity to give you my top 5 tips when starting your own business.

Top 5 Start Up Tips

Here are my top tips for starting your own business.  Every business will be completely different from mine but the basic information and advice will be useful to anyone setting up shop.

One

Do your market research. Simple, do it. It doesn’t have to cost you thousands of pounds and a million man hours. Be smart, use online resources (there are so many, but use the respectable ones) and talk to people, go networking and ask the questions you need the answers to.

Two

Those who know me know I love a plan, but when it comes to your own business you really do need one. Again, you don’t need lots of money and to hire a specialist consultant to do it. It can be a spreadsheet with costs vs projected income and a word document with income sources, marketing activities, people, etc.

Three

Have some extra funds. The first few months will have many outgoings and not many incomings. Customers take time to come and you need a bit in the bank to tie you over.

Four

Get support. Whether it is from Business Gateway, your local Business Adviser, other professionals (marketing, website etc), family members or (probably most importantly) other business owners. Most people are out to help you, use what is available. It is EXTREMELY difficult to do it all on your own. If you don’t have support then outsource.

Five

Network. I know there are a lot of people who think networking is useless or is the same people at the same groups. But the truth is you never know who you are going to meet or who they are going to talk to after meeting you. Networking should be included in your marketing strategy.

Summary

In short, research, plan, save, get support and network and you should be okay.  Obviously, there are many more elements to starting your own business but these basic points should get you through the first year.  It worked for me.

Birthday Party

Because we are 1 years old we are having a wee quiet birthday party.  If you are free on the 23rd May 2017 please pop into Nettl of Stirling anytime between 9am and 5pm for some cake and a cuppa to help me celebrate.

Here is to many more years to come.

Thank you, Jen.

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