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6 secrets of successful businesses

Starting a business is hard work. With all the time, effort and money involved in getting a venture off the ground, it can be hard to know where to start and what needs your attention.

With that in mind, we have put together a helpful list of the most important things we think you need to consider;

1. Lead with the brand

Don’t leave your branding to the last minute. It’s important to take time and really think about the way you want to look, sound and feel to your audience. Take inspiration from competitors, speak to the sort of people you want to become your customers and, when you wonder if your image is really that important, remember this; no matter how good your product may be, no one goes into a shop that looks empty, tacky, unloved or shady. Your brand is your shop window, so make it enticing!

2. Hire people who are better than you

Nobody got anywhere thinking they knew it all. In fact, truly successful people (like Bill Gates who said a very similar thing) know that hiring people more talented than themselves is one of the best moves you can make to ensure the success of your business.

If you are an expert salesperson, hire admin geniuses, marketing gurus and product specialists to push forward in the parts of the business you aren’t so good at. Don’t be afraid to surround yourself with talent. They won’t make you look bad; they will build you up even further!

3. Always remember the bottom line

It can be dangerously easy to get carried away with a new business, spending money you don’t have or in areas you don’t need to. Keep one eye on the bottom line, spend where you need to and hold back in others until you have grown enough to make more spending feasible.

Outsource wherever you can to help save you from spending too much as you get started – you can outsource or use freelancers for everything from your telephone answering to marketing projects, accounting, website maintenance and even manufacturing.

4. Support your employees

Employee wellbeing is more than a buzzword; it is a vitally important part of every successful business. If you take care of your staff, they will become your biggest brand ambassadors – they will tell others about the amazing place they work, be more productive and develop a real passion for the company.

A strong team mentality and genuine care shown for everyone from the most junior employee to the C-suite team will unite a company and make them care as much about its success as you do.

5. Don’t dwell on failure

It’s true that we can’t win every time, but dwelling on mistakes can build a fear of making decisions that will only hold you back. A healthy dose of caution is good for every business owner, and taking time to think before a big decision is definitely a good thing, but too much ‘analysis paralysis’ will ultimately prevent you from doing anything.

Thomas Edison famously made 10,000 unsuccessful attempts at inventing the light bulb before he struck gold. Think of your missteps like he did – Edison said he found “10,000 ways that won’t work”.

6. Never stop looking for a better way

Strategies don’t last forever. What worked today might not tomorrow, so keep thinking of new ways to do everything – from sales pitches and marketing strategy to products and materials, packaging, pricing and beyond, it’s so important that you’re open to change.

Go to events, take courses, network, watch and listen. If you’re open to new ideas, you’ll always be ready to find an easier, cheaper or faster way of doing what you do.

How we can help you

Moneypenny is the UK’s leading Telephone Answering and Live Chat service provider, offering outsourced solutions for businesses of all sizes. Our range of services are particularly useful for sole traders and smaller businesses who understand the importance of a great first impression and the value of every new enquiry.

To find out how you will benefit from our amazing people and technology, take advantage of our FREE trial. Experience our full service for a whole week with no set-up costs, no admin charges and absolutely no ongoing commitment.  You have nothing to lose, contact Moneypenny today on 0333 202 1005.

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