5 Tips To Help You Start Your Entrepreneurial Journey Article By Lexi Martel, Co-Founder & CEO Of DesDeck
'Business is a marathon not a sprint'.If there is one thing to take away from this article, it is the importance of looking after yourself as an entrepreneur. Physical and mental wellbeing is key, so, what can you do to prioritise yourself? At the core you need to make sure you have time to exercise, eat well and rest. It is the easiest thing in the world to cut corners when you're tired after a day's work. You skip the gym, have a takeaway and collapse on the sofa, we have all been there! But having the self discipline to exercise and eat well will provide you with the ability to keep going in the long run. So look after yourself and be prepared for the long haul! Here are some tips to help you on your journey by Lexi Martel, Co-founder & CEO Of DesDeck. Raise more money than you think you need
Just as in life, business is full of unexpected costs. So raise more money than you think you need. But how do you arrive at the “right” figures? Unfortunately there is no one size fits all. Start by working out all of your requirements in as much detail as possible. Overestimate the costs to be on the safe side, remember inflation, then add on a healthy reserve. Investors understand the need for a reserve so don’t be embarrassed about funding one!
Business is about people
Relationships in business really matter. When it comes to relationships with your customers, getting this right can be powerful. This is particularly important for a start-up with a small marketing budget. If a customer enjoys their experience, they will champion your business and spread the word on your behalf. So how do you achieve this? One of the best ways is to put yourself in the customer's shoes. Start by running through the whole customer journey and thoroughly test what the experience is like at each stage. Focus on saving them time, convenience is often king, and polite fast responses go a long way. Often a good product can sell itself, but an exceptional customer experience can really set you apart.
When it comes to employees the same is true. View the experience from their point of view and be understanding of it. It's essential to keep in mind that it's not their business, so they may not share the same level of commitment to working late nights or weekends as you do, and that's okay! Recognising and respecting their boundaries allows for a healthy work-life balance, fostering a harmonious and motivated team environment. If you find a good employee, look after them, they are a valuable asset. This is doubly important as recruitment can be difficult, expensive and time consuming. After all a business is just a collection of people with a shared goal. So put the effort into retaining and recruiting those who share your purpose, and you will create a powerful team.
Success by the nnch
Big tasks need to be broken down into smaller, more manageable chunks. Having one big goal is great but to think of it as one task can be daunting. Instead set smaller goals, with appropriate timeframes. This serves the dual benefit of making larger, complex tasks easier to digest mentally and more practical to manage. Remember it might take months or years to launch and get established, so having a sense of achievement at points is a necessity. You need to be able to celebrate the wins.
Celebrate the wins
Starting a business can feel a bit like climbing a never ending mountain range, with each peak just a bit higher than the last. Celebrating the wins is about giving you the motivation to continue, to climb that next peak.
In business you often have to focus more on your challenges than what is going well, it is just the nature of the beast. So to stay motivated, remind yourself of what has gone well and celebrate when you can. It will really help to keep you motivated. So celebrate the wins, even the little ones, enjoy what you can and remember the excitement you had when you first started!
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