I want to concentrate on startup business here as there’s so much current publicity from government ministers and business groups.  You may have a new startup business, and we all know people who have come out of corporate life, through choice or otherwise, and are having a go at being self employed or running their own business.  There’s real talent in them thar hills and the chances of success are good if the business is managed right and costs are kept under control.

There are many calls for governmental help for startup businesses in the UK and US, and all help in the form of simplified regulations and tax breaks will be very welcome.  But we know that the scope for governmental financial help is limited.

Self Help is Key
It’s tough building a successful business so if you want to grow your startup or small business into the company of your dreams let’s get the mindset straight now.  Don’t wait for others to help you – you can do a lot to get yourself organized to do business.

You start with two key assets – time and money, then add the third magical ingredient, customers.

Managing your time, money and customers will be the key to your success.

Time
Your biggest free asset.  Keep your business information organised so that everything is at your fingertips for customer service and management decisions.  Make it shareable with your colleagues and customers so it’s also at their fingertips.  It’s amazing how much precious time is wasted finding stuff that should be instantly available.  This is the 21st century after all.

Make sure you can do business on the go.  Waiting till you get back to your desk is all delay, and you may not always want to get back to your desk.

Money
Use at least simple finance software so you know what you’ve sold, what you’ve bought, and who owes you what.  Many companies have gone bust just because they haven’t been collecting money from customers as quickly as possible.  You have to keep your finger on the money pulse of the business to really run it properly.  It’s not difficult and pays big benefits.  You can even share the task with a bookkeeper or accountant if you have a multi user system.

Keep your costs down by asking for the best price (which is sometimes zero).  It’s amazing what you can get if you ask.  And asking nicely often gets a better deal, unlike a well known TV programme.

Customers
There’s two ways of building your business – get more customers and increase the amount of business you do with your customers.  Regular communication with customers and prospects is the key, and these days it’s a no or low cost strategy.  You have to stay top of mind so send regular and relevant emails to prospects and customers with simple contact management / crm software.  Phone and call on them as appropriate.  My experience over and over again is that the more you talk to customers and prospects the more business you do.

It’s In Your Hands
So while you’re waiting for all that government help, there’s plenty of low cost and no cost things a startup business can do to become the new success story.

Bizantra Startup Business Offer Coming
Watch this space for our announcement at the beginning of June.