Business Start Up Help – Power Mondays

Start up business help.

For many people starting a new business or thinking about starting a business it provides an escape from the routine and monotony of employment and organisational structures that are killing both your passions and creativity. Recession and lack of job security have driven many people towards self employment and business start up as a way of taking control of their own destiny.

The business start up industry is a growing market with over 300,000 new businesses starting each year. However 65% of these fail within the first 2 years. So what is making such a high number of businesses fail? Is it lack of start up business help or the motivation of the business owner?

Is start up business help a self defence?

There are a variety of training, products and services designed for business start ups, focusing on practical step by step guidance to help you get to grips with starting a new business. However very little providing both inspiration and practical tips that help you overcome the hurdles and challenges along the way. Most business owners need to master better techniques in the earlier days to survive and grow in a competitive marketplace

Perhaps you have spent a long time identifying your products and services, researching your ideal customer and how to market your product or service to them, who your competitors are what separates you from them with your unique selling points. You have followed the business plan model and all the training, tips and guidance for business success. But still struggling to fall into the 45% of successful business start ups despite being armed with an elevator pitch that is designed to attract more customers and increase your profitability.

Motivation your personal survival.

Financial pressure is one of the biggest factors for business failure within the first 2 years and it is very wise to plan how you will pay yourself a salary in the first 2 years of business not to be dependent on the business income. If you have given up a regular income to start a business or thinking about how you will finance your transition into self employment or a new business, finding a viable option can be a challenge, especially if you have family or financial commitments it can make the transition even more complicated. It is vital in the early years to give your business time to establish new customers and grow. Hence working part time maybe a good option for you to make the transition.

Confidence is a motivating factor that can often be overlooked in business start up and is directly connected to business success. However start up training, products and services are often focused on practical guidance instead of tailored around motivating and inspiring business owners. This support does exist in the form of coaching or mentoring and is usually seen as added value or complimentary support instead of necessary business support for the personal survival of the business owner. In my opinion it is regular inspiration that provides the motivation needed to persevere and persist in the early years of business start up and finish in the 45% successful business.