Staring your own business can be as overwhelming as it is exciting, especially if it’s the first time you’ve ever looked at creating your own start up. To keep the nerves in check, it’s vital to have a plan to get your business started, and how you can build it from there. For some useful inspiration, check out the below ideas on what you must invest in when taking on a start up.
1. Brand Identity
The hardest thing about starting a new business is that you are yet to establish a name for yourself. And if you are ever going to pull in clients, then you need to present a face that people are going to trust, believe in, and support. The best way to do this is to invest in a company to handle this profile for you. For example, creative agencies such as 40/40 Creative can help build an entire profile on who you are and what you do, through consultation, market research and development, and using resources such as social media.
2. Web Design
Once you’ve established a brand, the next major priority you should look at investing in is a high quality web design, as your website can become the deciding factor for clients investigating if you’re worth their time and money. A decent website can’t just look pretty, it also has to have content that is precise and informative and each page has to be easy and exciting to navigate. Investing in a company to take on this task for you is the best way to make sure you are hitting the mark on every count.
As a start-up, investing in a mentor or business coach doesn’t have to mean handing control over to someone else – it simply means getting some guidance to make sure your business is as successful as it can be. A mentor can help by guiding you in what operations and planning work best for your specific type of product or service. They will also prove helpful in talking through finances and being an avenue to vent to if you’re trying to solve creative problems with practical solutions.
4. An Exit
If you want to be smart with your start up, you have to think about what could potentially go wrong and what your options are if you need to bail out. To do this, it’s worth investing in a financial advisor, setting up at least a couple of different bank accounts, and not investing every cent you have into the business. Although you might be sacrificing potential start up products or services to get you off the ground, investing money into another account as a fail safe will be worth it if things don’t work out, or the business doesn’t take off as quickly as you’d hoped.
For a start up business to be successful, you have to approach it with a level head and a realistic view on how long the path might be to reach this success. Investing in the right stuff from the outset, such as the above examples, is the best way to get you there.
What are your biggest concerns when thinking about your own start up? Discuss your answers in the space below.