Get ready to open your new business
Now is a great time to plan and get a head start on building your business in 2025. Starting a company that’s ready to grow without burning you out begins with having the right vision, operational plan and systems.
1. Get clear on your goals and who you’re going to serve
“The more specific you can be about your niche, the easier it will be to attract the right customers. Think about the transformation your business will offer and why people will care,” says Jim Cocks, business strategist and author of Build Excite Ignite.
To plan to open your business in 2025, you need to start with two key areas: clarity and preparation, says Jason T Smith, entrepreneur and author of Unlikely. He also founded the Back In Motion Health Group in 1999.
“Be crystal clear on your why. Understand the problem you’re solving and who your target audience is,” says Smith. “It’s easy to get caught up in technicalities, but your success can depend on how well you serve people. Next, focus on strategic preparation. Start building a solid foundation now by assembling a team with shared values and complementary skills. Relationships are key – people matter more than money,” he says
2. Prioritise digital first
With the world moving online, right from the outset, you will need to explore ways to reach and grow your client base digitally. This might be through social media, email marketing or offering virtual services.
3. Work out what you represent
Branding plays a huge role in this. “It’s not just about having a nice logo, it’s about the story you tell and how you connect with your audience in an authentic way,” says Cocks.
4. Solid financial planning is key
Establish a financial plan that considers start-up costs, cash flow and contingency buffers. Risk is inevitable, but timing, conviction and resilience will see you through. Also use your planning time to learn as much as you can about your industry and your customers.
“Figure out your start-up costs and make sure you’re prepared to scale,” says Cocks.
5. Stay updated on industry trends
Every industry faces constant technological advances and regulatory changes. Implement processes for managing these aspects of business right from the start. Also, get comfortable with uncertainty, says Smith. “There’s never a perfect time to launch, and the challenges you face will teach you more than any plan could.”
6. Review every detail
The most probable immediate cause of failure at the opening of a business will be the implementation of the first of anything, says Alan Manly, CEO of CampusQ and author of The Unlikely Entrepreneur. “It’s your business and its your responsibility to understand and double check every detail,” he says.
7. Get your insurance right from the start
Talk to BICS about putting in place a comprehensive insurance plan that will give you peace of mind your risks are covered from the start. By focusing on these steps now, you’ll set yourself up to hit the ground running and thrive.
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