Time To Go It Alone?

Starting A Business Is Not For The Faint Of Heart

While the transaction of starting a business is easy in New Zealand, the easiest in the world in fact. The reality of delivery on your vision is much tougher. It’s important to get to this point right off the bat as we have seen so many examples of new businesses overwhelmed that they never really get going. Knowing why you want to start and where you want to end up is a critical part of the pre-start process.

Below are a series of consideration before you start a business – the idea is to challenge your thinking and guide you towards a more confident next step.

Planning On Starting A Business?

We compile the best bits of our real life experiences with clients and business owners and share them directly with you each week by email.

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1

Why Are You Starting A Business?

It may seem like an obvious one, but it is the foundation of the journey. To make more money, because I know better and it looks straight forward are not valid reasons. Are you prepared for all the experience has to offer?
2

Do You Need Or Have A Plan B?

Lets be real, not everyone is born to build Facebook. We all have different goals. Starting your new business might be a part time gig until you can validate the idea and be sure it will deliver on your expectations. Do you have to go all in now?
3

Have A Plan... Simple Is Best

Gone are the days that a formal 50 page business plan is required to start. You do however need a plan to hold yourself accountable. Plan the first 12 months, a one-pager on your audience, products/services, where the opportunities lie and what you need to do to achieve your goals. It is now commonplace for businesses to work from one-page strategy plans.
4

Bigger Is Not Always Better

You don't need to spend $10,000 on your first website, or a brand. There are things that can be built on as you grow and they change in their value to success. Starting is most people' s greatest challenge.
5

How Much Does It Really Cost?

To get started you just need to start, but you realise there are things that need paying for. Some of the costs before you have made a profit; accountants, marketing activity, insurances, tax planning, staff, premises, tools, qualifications the list can go on. An Instagram account and a good attitude a business does not make.
6

Do You Need Funding?

Some businesses may require significant fund to get started. So consider your options; bank loans, savings, crowd-funding, partnership, pre-orders, angel investment, even funding it yourself from your current salary. Investors are not just looking for a great idea, but people who can deliver on it and return a profit. Be sure what you are offering, why you want investment and why people should invest in you and your start-up.
7

What Is Your Brand Strategy?

Build it and they will come doesn't work. You have to have something to offer, especially in the crowded consumer market. If you are entering a busy space how are you going to change or challenge the status quo. If it is a new solution - does the issue really need solving. From day one you need to understand why you exist, so you can clearly communicate that to your potential customers.
8

Get Support!

You can read all the blog posts and watch all the videos in the world but the thing that gets results is action and accountability. Whether or not you have a business partner(s), it is important to have a support system. It may be your partner, industry groups, business groups or even a mentor. They will be able to provide insight on your specific needs and provide confidential support when things don't go as planned. When you start up there will be 1000 roles and tasks to be completed.
9

Don't Try And Be Something You Are Not

It's a common mistake that we try to emulate those that we see obtaining success. This is a mistake because we don't have the whole story. That is why it is important to learn from others but deliver on your own vision. You won't have all the answers but you will have full control of your version of success.
10

Plan For Growth

Another obvious one but many business fail due to escalating costs as they grow. It is easy to get carried away with the shiny and new, lots of staff and the latest gadgets. If your plan is to double you business year on year... understand what the cost is...
11

Patience Is Your Greatest Tool

Many people think that businesses fail due to market conditions and lack of cash. But in reality many business fail due to the lack of patience and people give up. That sweet spot is around 3 years. If you spend all of your time coveting the success of others you won't win the long-game. Be true to your vision. You may not want to be in business forever but you may as well get the most out of it for as along as you are. And if it is your calling... just remember to enjoy the journey as much as the rewards.

Talk To Us About Your New Business

We are so much more than a branding agency. Our passion sits right in the middle of the art and science of building a great brand. We love the creative process but adore the strategy around creating business growth. Let us walk the journey along side you.

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