The do's and don'ts of starting a new business

Never stop dreaming

Just one month ago, I’ve talked about the importance of a satisfactory company culture. To be honest, there is no huge secret to my business journey, nor are there any scientific formulas to make it work. Although there is one key to success to hold on to: passion.

Without any doubt you need a good idea, a business plan, a market and potential customers. But passion will always be the top priority. Treat your business like your very own child and be there for your customers and employees, day and night. No matter what.

The day that you register your business and become an entrepreneur, you are responsible for every single problem and hiccup. Even if you have delegated a number of tasks to some of the most talented individuals in your organisation, the buck stops with you. Are you ready to act when something goes wrong?

Hard work

Starting your own company is a risky business. And it’s hard work too. But let’s just face it: one does not simply go into business to aspire to an easy life and to play things safe every single day. Nonetheless the hard work cannot be downplayed, the rewards can be huge.

Be prepared for slippery roads

I believe every motivated soul starting a business should keep various scenarios in mind. So, always create two positive ones and two negatives, including a worst-case script. If you have thought about your business from every possible angle, then you’ll probably can buffer each scenario. Once you start doing that, you’re well-prepared.

I sincerely think that being well-prepared is also key to getting ahead. My background in economics (sales, marketing and accounting) and law (contracting), as well as my education, has stood me in good stead. Moreover, I have had the opportunity to develop practical and relevant experience – because starting your company is like driving a jeep in the jungle. In other words: the road to success can be slippery and inaccessible. So, you must foresee every single bump. And if you hit one and get stuck, be prepared to climb out with all the resources that are available to you, freeing your car and drive ahead.

Know how you can differentiate

Your way out? Teamwork. That’s of paramount importance. So, make sure your colleagues/associates/employees know their responsibilities. Meetings need to be formalised and action plans must be ready. This way of working can be a piece a cake, but many people forget to do what they have agreed. Get it done prompt, by doing your action lists.

Clear communication remains crucial, especially when a business is establishing itself. Personally, I have always thought that well-oiled sales, marketing and HR processes are important facets of any business.

Yet, what defines a good business from a great one is akin to running a successful restaurant. Everyone can cook well and serve good food but the difference can be found in three particular points:

1. Customer focus: be attentive and always put your customer first.

2. Make sure everything is spotlessly clean: especially places that are out of sight, like the bathrooms for example. Exceed customer expectations 24/7.

3. Treat your employee as your customer: the way you treat your employee will be reflected in how they treat your customer. Therefore, a good HR culture and policy is key to customer success.

The above points are key to creating a successful business; one that will survive tough times. Yes, your business will always have “competition”. It may sell a similar product to a competitor but it cannot offer the same service that you provide, and I firmly believe that people buy from people.

Take ownership

During my early career, I was longing for strong leadership. Alas, there was a lack of professional coaching, poor career planning and weak onboarding. Besides that, there were no training opportunities. You didn’t feel part of the team; you didn’t all work to the same goal.

However, in some weird kind of way, I am grateful for that. It meant that I knew exactly what I wanted Tobania to be. Tobians have access to strong leaders and managers, good IT systems and a myriad of learning opportunities.

Employees are free to build experience, whilst on the job, and have access to opportunities that make them feel accountable and responsible. They have freedom to take ownership.

Personally, I don’t think that you are ever too old to learn. So, entrepreneurs should always make time to follow courses, seminars and workshops. And everybody within a business should be given the opportunity to identify and recognise their own strong and weak points. If you know your own profile, you have the ability to work with, and understand, others better.

Just do it

Even if you sit at the top of the tree, you should always make yourself and your business bigger than you are. Be optimistic and make sure that your customers are aware of your growth strategies.

And finally, dream it, prepare and do it. Realise your dreams. But remember, prepare and prepare some more. Then focus until targets are achieved. If you want a successful business, you should never stop dreaming. I dream. I have goals. And I have the best team players in the business that will help me to achieve them. As I do for them. Together we build a great future.

Are you with me?

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