Is your business ready for Brexit? The UK left the European Union on 31 January 2020 and entered a transition period which is due to end on 31 December 2020.
Spring is generally considered to be the most successful time to start a new business.
Spring is generally a season of fresh new beginnings with the emergence of bulbs and plants, and the improvement in weather. A more mentally stimulating time to start anew. It is also a time of fewer staff holidays which would burden your team with extra work.
Consider the service or goods you are selling, no one wants ice cream when it’s cold outside. Also, ensure you are fully financed plus some. There will always be costs which were not anticipated. Many great businesses are abandoned due to finance drying up. When your cash runs out, you’re out of business.
Remember, 80% of businesses fail in less than 2 years. (Bloomberg). So bear the following in mind to avoid the most common reasons for failure.
Cash is king. No cash then no business. Ensure you are adequately financed.
Why is your business better than your competition? Make sure you tell your new clients.
Keep a marketing presence. Choose 2 or 3 beneficial platforms and use them well. Do not overextend
Ask your customers what they want and act accordingly. What you think is best for your business may not be what people actually want.
Manage well and delegate when necessary. Trust your staff with the day to day running and concentrate on the business. You don’t need to order stationary.
You can go it alone at any age. Just ensure you have a positive and can-do attitude. You need to have a strong work ethic, and brush up on your communication and listening skills.