FOUNDER OF ENTERPRISE NATION
Here are a few tips to get an early stage business off the ground, build momentum and sustainability.
Turning your hobby into a business is a great way to get paid for doing what you love and it never feels like work.
If so, fill it.
Then go right ahead.
What’s the idea?
Who are your customers?
What kit do you need to get started in business and if you don’t have access to this, beg, borrow and barter your way to getting it!
Who can you turn to?
Can you sell the product/service for more than it costs to make? Write this down in the form of a cashflow forecast.
Ideally, find dedicated space in the house to serve as your home office. That way you can make a clear boundary between what’s work time and what’s not.
Furnish this space in a way that makes you feel comfortable. You’ll need a laptop, broadband connection and a phone to get started. With prices falling, you can get your home office set up for well under £500.
You might consider investing in a good desk and chair and choose space that offers plenty of natural light. One of the upsides of working for yourself from home is that you get to choose the work environment and can enjoy a home made lunch every day.
Now all you need to do is secure your first sale.
Make a list of contacts and write to them individually to set out the benefits of your offer. Include price details and a point of contact. Follow up with a call and be prepared to negotiate on the price for your first sale as this could be the one that leads to many others.
Once you’ve won your first customer, shout about it. Write a press release to keep up the marketing momentum.
To keep the business going, balance the following:
cashflow, accounts, etc.
finding new clients
being good to current clients