Five Tips for Starting a New Business

Being with a Focused Plan

In the beginning stages of building a business it is essential to have a focused approach to avoid wasting time and resources. Know what your plan is upfront and act on. You’ll experience less frustration if you are ready with a plan of action.

Secure Funding

Wherever your money is coming from make sure you’ve got it for sure. While there is some truth to the adage you have to spend money to make money, if you don’t have it you can’t spend it.

Networking

Keeping up a simple, professional online profile is a start; however you need to be in personal communication with local officials like your city chamber of commerce and others. Social capital is important. While the corona virus has canceled most “shoulder rubbing” events there are still ways to get connected with local officials and other business owners through online events.

Figure Out What Makes Your Business Unique

Knowing what makes you special is important. This should be integrated into many aspects of your business without over doing it. Asking your costumers and employees can help with this.

Be Ready and Willing Accept and Adapt When Change Happens

The corona virus pandemic is a perfect example. Whatever your business is, some kind of large change outside of your control will happen at some point in the lifetime of your business. Be ready for it, accept it and move on to planning to adapt to these new challenges.

 

 

 

What to Talk About First with New Team Members

Don’t make new team members fill out paper work their first morning. Don’t immediately jump into some kind of intense meeting or financial review. Use the time and the power of first impressions. Focus on what really matters—the culture of your organization.

One leader suggested the following. She has a conversation with each new team member on their first day. During this conversation she has them take a pin and place it in a large map of the US she keeps in her office and asks the new employee to place the pin near their home town.

She begins this conversation by pointing out that they all come from different cultures. They all have different values. They all have different educations. They all have different family dynamics. Different faith traditions. And that all of them have different motivations for being on the team.

She might even point out some of the more interesting things about some of the senior team members (with their permission, of course) and discuss the new comer’s background and how they see themselves fitting in based on all the unique things about them.

This valuable first conversation is about inclusion and diversity. While there are many valid first conversations with a new team member, making them feel unique and included and letting them know that the organization welcomes diversity can go a long way towards making the new guy feel at home immediately.