You want to support your local community, and you have an idea for a business that you’ve been nurturing for a while. You’re finally ready to take the leap and start your own business; you’ve drafted plans and gathered resources, but you’re still not certain if you’re ready. Is there something you’ve missed? What can you do to increase your likelihood of success with your local business?
To clarify your thinking, we’ve asked many business coaches for an answer to an important question:
“What should all entrepreneurs do to succeed when starting a local business?”
Organize Community Event
“Entrepreneurs should organize a community event to get familiar with their community. Then, make conversations to get to know the local people in attendance.”
~Alex Schwartz, AgileProjects.co
Build a Strong Foundation
“Focus on the foundations of business culture, product, market, core values and how their delivery will be executed to clients, employees, and vendors. Once those things are understood, then hiring, marketing and sales are ready for development.”
~Doreen Milano, CPC, Founder & Business Growth Speaker, Visions to Excellence
Foster Communities
“Foster distinct communities for yourself: customers, collaborators, and supporters. For customers, be where they are. Collaborators (peers, competitors, complimentary businesses) can refer work to you. Supporters are local groups, friends, and mentors.”
~Dain Johnson, Director, Rev Ø Consulting
Understand Your Audience
“Before spending money on development, sales, or marketing – make sure to interact with your audience as much as possible. They will help dictate which direction you take your product or service.”
The Argona Partners Team
Focus on Cash Flow
“Have enough cash flow for one year, even if you don’t have sales.”
Karriem Kanston, Owner of Kanston Development, motivational speaker, consultant, author, entrepreneur
We’d love to add your expert opinion here too! Please reach out to us with your answer to this question:
“What should all entrepreneurs do to succeed when starting a local business?”
Contact us today to add your answer to this question!