Tips for Opening a New Business

There are few things more exciting for the entrepreneurial-minded person than launching a new business. Excitement for the years ahead, trepidation for all the work that needs to be done – it’s a bit of a rollercoaster from day one.

Learning on the job is part and parcel of the businessperson’s lifestyle, but that doesn’t mean you can’t go into the fray with a bit of knowledge behind you. Here are a few general tips on what to do when opening your new business.

Businessman Working Dashboard Strategy Research Concept

Spread the Word

Your budget may be small, but that’s when your lifelong network comes into its own. Get family, friends, neighbours, colleagues and everyone else you know to share the word on social media, tell their friends and generally create a buzz around the upcoming launch. Coercing some people with social media management experience into helping you for the couple of weeks leading up to it could also be a worthwhile move.

Get Legal Advice

Businessman Doing Calculations

It may cost a bit more money than you were hoping to initially spend, but getting a professional to run through your accounts, paperwork and procedures could save a lot more in the long run, as well as avoiding any unnecessary and time-costly court appearances in the worst case scenario. The same could be said of health and safety conditions too – having a colleague injure themselves in the opening week will be unlikely to help team morale.

Scout Out the Competition

Know what you’re up against from day one. This is vital not only to ensure that you have a niche in the market – or a product or service that is better, cheaper or supremely packaged – but also to get ideas on ways you can improve. Although this sounds like stealing ideas from the opposition (which, in some cases, it is), a lot of the time you’ll simply be gaining inspiration and building something new from it.

Neighbourhood Balloons

girl in white summer dress hides herself behind a bunch of balloons

If your business is local, one eye-catching way of grabbing attention is to fill your neighbourhood with balloons advertising it. With a marker pen, you can put contact details, directions, social media handles or anything else that brings people to your doorstep. If you’d like to try this out, then contact us at the Fill n’ Away website today and see what we have in stock.