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8 Top tips for running a successful business
Bub Hub E-Newsletter, November 2007, Issue 63 - Article 3

  There are many reasons why people start businesses – flexibility, earning money, better lifestyle. Starting a business is the easy part, creating a successful business is more challenging.

It is so easy to get caught up in the day to day running of your business that you can often get lost and start to feel very overwhelmed and alone.


I know from experience what this can be like. I now run 2 successful businesses, Tinytalk and Mums in Business. I learnt such a lot from starting Tinytalk that I was able to use this experience to start Mums in Business. In the early days of running Tinytalk (my first business) I thought I could do it all myself. I got my own media coverage, recruited tutors, went to every expo, and did all the admin, orders and the list goes on…

I was fortunate to be able to draw on my previous business experience and succeed with these businesses. For the majority of small business owners this is not the case. Instead what happens is they end up creating themselves a very busy job. You need to avoid this at all costs and look at how you can move your business on to the next level.

So how do you create a successful business? Here are 8 top tips to help you.

  1. Know what you want to achieve. Having definite objectives will help you to work towards your goals. Break them down into smaller goals that you can achieve as you work towards your ultimate goals. It is much better than having everything going round in your head and being unsure whether you are actually achieving anything.
  1. If you haven't already you need to research your market. Keep abreast of what your competitors are doing. Many times I talk to people who are in business and yet have no idea even of who their competitors are.
     
    Also find out about your customers. Who are they? What and why they purchase from you? This will help you to get more of the right type of customers.

  1. Review and Improve. This is critical. On a regular basis you need to continuously review and monitor your progress and where you are. Monitoring the progress means that if something isn't working you can modify it immediately. This will help you to take your business to the next level.
     
  2. Discard the myth that you can do it all yourself - you will pay a high price if you do.

    Get help from experts - use their knowledge to help you grow your business. Recruit a PR person,
    a bookkeeper, an admin person etc. Check out the expert advice and list of recommended experts
    contained in the Business Essentials section of the Mums in Business website.

    Ensure you have the support network – family, friends and of course Mums in Business.
  1. Balance your time. Plan your family and business time. Make a clear distinction between the two and avoid working in family time.
     
  2. Get yourself a'buddy'. Surrounding yourself with other like-minded people is a must and so is getting yourself a'buddy'. This has been one of the best things I did. My'buddy' is now my dear friend, Sharon Wood from Natural Baby Expo. I know Sharon will agree with me that having each other to talk to on a regular basis (well everyday), bounce ideas off and also get a'kick' when needed has helped us both to take our businesses to the next level.
     
  3. Take time out for yourself. We often get lost in our businesses, especially when it is new so try and take time out for yourself on a regular basis. Treat yourself to lunch with friends, get your hair/nails done, play golf, go shopping etc.
     
  4. Believe in yourself. Every one of us has the ability to achieve our goals and dreams. So believe in yourself, believe that you can do it and with help and support from your friends and family this is possible.
 

I wanted to share some of my story with you in the hope that it will provide you with the inspiration to take the next steps in your business and aim for the stars.


For practical information, expert advice and invaluable support to help you run and develop your business, contact Mums in Business.

ph: (07) 5502 7756
email: info@mumsinbusiness.net
website: www.mumsinbusiness.net

Bub Hub are proud sponsors of Mums in Business and we will be bringing you regular updates and business advice from MiB as part of our new Jobs Portal.
 


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