Setting up a successful small business, how did I do it? 

Here are my seven secrets to starting a business and together we’ll be debunking the myths about building your business, remember it’s not a short term project to start your own business big or small. After all, Rome wasn’t built in a day. 

What most people think, but get wrong

Is it the right time?

Ranking at #1 as one of the biggest myths in the history of business advice. There isn’t a right or wrong time to start a business. Understandably, a time in your life when you’re experiencing high levels of stress and anxiety might not be ideal but on the other hand, it’s important to remember that there will never be a perfect time. The time is now to take the plunge into this new business venture as long as you’re prepared.

Can you have it as a side hustle?

Some may believe when you’re starting a new business venture it should be given the all or nothing approach but that simply just isn’t true. Sticking with your current job while you explore this new career journey is advised. By doing this you can keep that financial security while building up your business as a side hustle. Besides, it takes time to develop a business plan, this way you can ensure a more well thought out business launch. 

24/7 business 

‘Hustle culture’ has made it so that it seems like entrepreneurs are never allowed to switch off, most days that might be true for some but no one can keep going 24/7. “Work smarter not harder”. You don’t have to burn yourself out just for the sake of it, this will take a toll on your health which is always the most important thing. If you aren’t keeping healthy then you won’t be able to go for the long term. There will be periods where you have to seriously switch on intense work mode but you need to know when to take a break and enjoy the little wins along the way. 

Seven Secrets 

If you're employed, stay employed! 

Start doing your market research and business plan in the evening. Granted, that you’re serious about this new business venture you can also make time for it on the weekends while you still have money coming in. 

Fail to plan and your plan will fail!

 To clarify, I recommend thinking about everything before you get started. No, it doesn't have to be perfect but you do need to think long and hard about what you’re planning to do and how it solves a problem.

Research and use your competition - no one said your business needs to recreate the wheel.

If others are doing something right then don't feel afraid to use it, while also making sure your business has a clear unique selling point which should be why people choose you over the others. 

Try it out! 

Yes, get it started, no harm in testing it out. Start local or within a niche and test your business proposition out.  Next, see if it works. 

Remember you don't fail until you stop trying! 

Don't assume you will get it right the first time around. As long as you're willing to learn and make improvements, you will get it right at some point. 

Think big!

There is no point in setting up a business with small goals and targets. Think big and set big targets because even if you achieve half of what you targeted it will still be bigger than if you planned something small. Always think about scalability and not requiring you to do everything.

Believe in what you do and don't give up 

Life is too short to keep starting and stopping. If you believe you're solving a problem, then just keep going, and soon you will find your way. 

I hope this gives you some clarity on your future business goals. Still, got Questions? Let me know in the comment section below. 

Good luck and all the best with your Endeavours, 

Irfaan Hussain founder of Apply4U 

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