Here are some final tips to help you on your way.

Set reachable goals
Think about what you can realistically do, and what you expect. Your business is not going to become a roaring success overnight. It is a slow process.

Don’t overpromise: never tell customers that you do or have more than you actually do. They will be disappointed when you don’t have what they expect.

Make a business plan
Map out a business plan as described. It doesn’t have to be too detailed. Start with one page. Include how much it costs to operate, how much you think you will sell, who would buy your product, and why. This will also be useful later if you decide to partner with another business or expand your own business.

Be organised
Write everything down that you need to do, or use an app. There must be a record so you can ensure that everything is being done. Then you can see what works and what doesn’t. Otherwise, you will forget.

“Running a small business is like being a circus ringmaster. It’s normal to have dozens of things happening at once. So, I have a daily task list, things that I need to do. And I list them by their priority. It sounds simple, but it works, and makes me far more productive.”
– Tara Langdale-Schmidt, founder, VuVatech

Understand your market and customers
You must understand the business properly. Be familiar with what you need to do, how much to buy, where to sell, how to market yourself, and so on. Know the details by taking the time to understand the market or customers. Do your research. Ask potential customers what they would buy from you. Do they actually need or want what you’re selling? You only know if you’re on the right track if you’re constantly getting feedback. Always follow up with your customers so that they know you are reliable.

Then use this information! Have a marketing meeting with yourself every week. How can you do better? Remember that you are always promoting your goods or service, and you are always looking for ways to get new customers.

Ask the experts
Don’t try to do everything yourself. Find trustworthy advisors to discuss your business ideas, strategy, challenges, and progress. People who have already done the sort of work you are interested in might be able to help by giving you advice or people to contact. You are building a network of people as well as building your business, so get one or two mentors on your side.

If you are not ready, see if you can work for someone else who is already established in the field you are interested in. Learn all you can from them before you start your own business. Make sure you know all the aspects of the business.

Have a formal book-keeping process
Knowing how healthy your business is can help you to spot opportunities early on and head off problems before they become unmanageable.

Keep careful records of money coming in and going out. You must know how much you are spending, and how much you are making too! You can do this in lots of ways: if you’re just starting out, you could write it down in a book or a proper book-keeping ledger, or you could write it up on a spreadsheet. You can also find an app to download that will help you to organise your finances.

It is very important to never mix your personal money with your business income. Some people use separate bank cards or accounts, so they know what are business expenses, and also how much cash they have to buy new stock.

When you make enough money, you will have to pay tax, so keep your records clear and accessible.

Don’t expand too quickly
Work slowly and steadily, and focus on what you can do well by yourself. When you first see success, it’s easy to think that your business will always be this successful. But if you expand too fast, you might find that your growth was not permanent, and now you have new staff but no work or money to pay them.

Having a business is really hard work!

“People think that a startup is easy and fun, when in reality, it is quite the opposite. Startups [new small businesses] take most of your time and money. It can even ruin relationships.”
– Esther Meyer, marketing manager, GroomsShop

But don’t be discouraged! We all feel like we want to give up sometimes. Working for yourself will improve your skills and also give you financial freedom – or a whole career – and make you feel confident and independent.

There are also organisations such as the ones listed below that can help you. Click on their names to get to their websites.

Department of Small Business Development (DSBD)
This government department aims to promote and develop small businesses, entrepreneurs and co-operatives, and to provide an enabling legislative and policy environment to support growth and sustainability.
Small Enterprise Development Agency (SEDA)
Established by the DSBD to implement government’s small business strategy, and to coordinate support for small businesses in partnership with a variety of roleplayers.
Small Enterprise Finance Agency (SEFA)
Established to provide small businesses and co-operatives with easy access to finance in order to build a sustainable and thriving small business economy.
SME Toolkit (by Business Partners)
Business Partners is an advisory company providing assistance to formal small and medium enterprises. The SME toolkit provides how-to articles, business forms, financial tools, training and other support.
NYDA Grant programme
Provides young entrepreneurs with an opportunity to access financial and non-financial business development support to help establish or grow their businesses.