We wrote recently about the fact that many people want to go into business for themselves, but don't realize exactly what comes with that choice. They may have a better or worse picture than someone else, but many of us don't have the full picture (especially if we're new to this realm). In light of that thought, it seemed appropriate to add some more topics for consideration to the list.
Topics to consider:
- Customers: Without customers there isn't a business... Things to consider whether starting out or just trying to strengthen the company would be: advertising and promotion, what the philosophy for customer service will be (don't take this for granted), networking, referral program (to jumpstart the business), and branding (how will the company represent itself in the community).
- Credibility: Credibility takes time. A company must prove itself and, once it does, that credibility can go a long way in the community. Be honest and always deliver the best product and service possible.
- Cash Flow: It all comes down to money. A company can have a great product, but if there isn't any cash flow, then the business will not survive. This is why it's critical to do the research in the beginning, to watch the numbers, and to learn from the analytics. Don't be afraid to change.
What to remember: Running a business is infinitely complex. Don't try to handle everything at once, just make a list and start checking things off.