Eight Practical Biz Tips for Startups
Posted on 09/10/15 by Tara Palacios
With fall upon us, it is time for new beginnings. As you prepare to plan for colder weather, don’t forget to plan for all aspects of your new business.
Here are my Eight Simple Startup Tips to provide you with guidance as you begin to launch your business:
- Planning is fundamental.
The more you plan the less risk you take. The less risk, the more of a guarantee you will succeed in your endeavors. As an entrepreneur, you know the industry like the back of your hand; however, you still need to plan for any scenario. Don’t forget Arlington’s free market research tools provided by Arlington County Library. They will aide you as move forward to launch. #FREE.
- Be knowledgeable about local rules and regulations.
Successful entrepreneurs know regulations better than the regulators. You’ll need to understand what rules and regs. affect your business, and how best to negotiate unchartered waters. For more assistance in regards to building out your business visit the BizTeam, and for the wealth of resources provided by the County here.
- Tons of free resources; however, pay good money for an excellent attorney as well as a CPA/Accountant.
There are a lot of nonprofit organizations and established support efforts for businesses on the local, state and federal levels. Think SBA. However, a strategic area to budget for and pay well is for your professional support team: lawyers and accountants. For this tip think, “You get what you pay for.”
- Ask for help, advice and mentorship.
It never hurts to ask those that have been there and done that. Who are the influencers in your sector? Seek out influencers and see if they would be willing to offer advice, serve as a business mentor or can help answer a quick question. The worse thing they can say, “No,” or “Not now.” BizLaunch offers free mentorship via our wonderful SCORE program.
- Use marketing tools strategically, and yes that includes social media. Understand how your target market receives information about your business.
- Negotiate everything: lease, teaming agreement, partnership agreement, banking accounts, loans, investors, contracts, opportunities etc.
- Establish a financial/and or banking relationship even if you don’t believe you need it at this time.
Money doesn’t grow on trees; however, when you need funding it can be hard to come by. Go for financing when you are in an excellent position to acquire it.
- Don’t forget BizLaunch.
We are your one-stop-resource as you launch and grow your business. We are only a phone call away: 703-228-0808.