This is a post for all of the beginners. Maybe you stumbled across my blog because a friend mentioned a conference or you found my book. Whatever the reason, I’m glad you’re here. It’s an honor to walk with new entrepreneurs into a world that can be both incredibly exciting and equally terrifying.
Here are twelve simple but essential tips to ensure success as you begin your new venture. Allow these tips to serve as principles as you start your business. Let them encourage correct, wise decision-making from the get-go.
12 Tips for Long-Term Success as a New Entrepreneur
1. Take care of yourself and your family.
I cannot overemphasize the importance of this. As a new entrepreneur, you’re going to have a lot of people relying on you and asking you questions. Especially when starting your new venture, you’re going to be losing a lot of energy. So please – please – make sure you’re taking care of yourself and your health, as well as making sure you keep your family a top priority. Your family members will be a huge support to you during the whole business-building process.
2. Take care of your employees.
Simply put, a healthy business has healthy employees. Make sure that your team is feeling rested, invested in and encouraged. If they feel like an important part of the business-building process, they will be able to fully engage in their work and want to go the extra mile.
Also, everyone will have more fun in the office when the atmosphere is friendly and healthy. Keep conflict to a minimum and resolve it quickly when necessary.
3. Take care of your clients.
This might seem like a no-brainer, but make sure that your clients feel valued. Send them a free holiday gift or a Thanksgiving card. Make sure you’re frequently emphasizing to them how important they are and how much you appreciate their support. The reputation of your business will spread and your clients will stick with you. This will guarantee long-term success!
4. Brainstorm frequently.
Make brainstorming a regular part of your rhythm. Sit down with your employees and take feedback. If possible, sit down with a few clients and take their feedback as well. Visualize where you could go or what you could do differently. By brainstorming regularly, you will evolve as your business grows and not become static. That is huge! Also, brainstorming leaves room for error because you will catch your mistakes before they ruin all of your hard work.
5. Be open and honest with yourself.
When you have these brainstorming situations, make sure you are truly listening and valuing what your team is telling you. They are on the ground in ways you aren’t – and will see and hear things you don’t know about – and will feel invested in the company when you listen to them. Be open to some fresh ideas. Then, implement some of those fresh ideas. And make sure you are being honest with yourself and your limitations/goals/mistakes/etc.!
6. Do your homework.
Always keep an eye out for new methods of doing business and listen to what the market is saying. Doing your homework will feed your brainstorming sessions, as well as keep you on the edge of innovation. You need to know what is happening in your market all over the world in order to experience long-term success. Keep your finger on these tabs regularly!
7. Be flexible.
If the market has a drastic change, make sure that you are ready to be flexible with your business. Or if a customer is unhappy or an employee leaves, choose to be flexible. You will not only help the other person to feel valued and heard, but you’ll keep your own stress levels down. Expect change and be flexible when it happens.
8. Make decisions and don’t second-guess yourself.
Yes, you need to brainstorm and do your homework. But after all of that is done, you really need to make decisions and stick with them. This is the only way progress will happen. It sounds harsh, but this is what will make your business successful. Just continue to take the next step forward with confidence.
9. Be diligent.
As you move forward with a decision, be diligent. Do the hard work. Have the difficult conversation. Make the tough call. Be diligent to move ahead and keep that confidence I mentioned before.
10. Have long-term goals and short-term goals.
This is critical for team and business health. Have long-term goals (a vision for where you want your business to be in x-amount of years). These long-term goals help your team foresee their future as well as aim for it. But then you also need to have short-term goals to make that vision seem possible. By breaking it down, your team will feel like the goal is do-able. Everyone will feel much more motivated to come into work on Monday morning.
11. Over-communicate everything.
Miscommunication is destructive for all relationships. Please over-communicate and make yourself clear. Don’t assume. Don’t suggest. Just explain yourself well and ask if anyone has questions. Also, ask for feedback from your team. Maybe you explain things in a way that could use some improvement. All in all, make sure you are all on the same page.
12. Enjoy holidays and breaks.
We are about to celebrate Christmas, so it’s a good reminder that when it comes to holidays, you need to enjoy them. (Also make sure that your team has adequate time off – be generous!) Be with your loved ones and give yourself time to rest. Holidays are in a place for a reason. We all need a break sometimes.
If you’re a new entrepreneur, I hope you’ll consider these tips as you set out to build your business in 2019. You can do it. You can achieve long-term success. But first, how do you plan to rest and recharge this holiday season? Let me know in the comments!
Download my FREE handout “20 Ways to Manage Work & Life While Building a Business” for GREAT ways to take a break and rest with those you love this holiday season! Sign up below!