Photo by Rayas Wellness in Smithers, BC
When starting your own business it is not for the faint of heart. It takes hard work and a lot of decisions. But don’t let that stop you!
When I started Nascent Administration, I wanted more work-life balance, I wanted to be more available to my family. Not only did I achieve my goals but I am also woking on having the balance that I had hoped to have when I started. This is my third business, yes you heard that correctly. My first business was with my now husband, the business was more his, he did the business plan, the hiring, the everything. I helped a little with the bookkeeping where I could but we mostly left that to the accountants. The next business was with my mom, we had an event planning and rentals business. That business was fruitful but I was working full-time, starting my career in non-profit. I’ve always known I wanted to own and operate a business, I just didn’t know what it should have been.
The dream comes in, be your own boss, figure out what you want to do when you “grow up”, then find a way to pay for it. I had a teacher in my Business Administration program that once told me, “find something that you love doing and then find a way to get paid for it”. I took that advice and I finally at the age of 36 figured out what that meant to me.
I have always loved helping people but what that looks like today is so much different than it looked when I was 24. I learned that I love admin work. The spreadsheets, the organization, the communications even the bookkeeping (somewhat). I love being a nerd and learning new things and coming up with solutions for my clients rather than problems. Since starting my career in admin, I have been able to do so many tasks in non-profit, mining and healthcare. Being well-rounded I have been able to provide my clients with expertise from all my knowledge and I have also been able to hire specialists to provide my current and future clients with more expertise and support in their businesses.
3 Valuable Tips For Starting Your Own Business
Starting your own business can be an exciting and rewarding venture, but it also requires careful planning and execution. In honour of my first anniversary of owning a small business, here are three valuable tips I have learned that I know to set my business up for success.
Conduct Thorough Market Research
Before diving into your business venture, take the time to thoroughly research your target market, industry trends, and potential competitors. Understanding the landscape in which you'll be operating is crucial for making informed decisions and identifying opportunities. It’s crucial to prepare mentally - success doesn’t happen overnight. Be ready to commit to the long haul. I found a social media group for Virtual Assistants that turned out to be an Association - this was gold! I was able to connect with other like-minded individuals throughout Canada, they provided a place to ask questions, templates and potential clients. Through this site I was able to propose my services to many clients throughout Canada and I have landed a few clients from this group.
Create a Solid Business Plan
A well-crafted business plan is essential for charting the course of your business. It should outline your business goals, target market, marketing strategies, financial projections, and operational plans. Brand development is also important to set you apart from your competitors by investing time in your brand’s creation that resonates with your target audience. These documents, among others, will not only guide you in the early stages but also serve as a roadmap for future growth. If you need help with creating a business plan, a coach can be helpful or if you are looking for funding places like Futurepreneur or WeBC can help with that especially if you are looking to funding. They provide a strong foundation, advice and templates for budgeting.
Establish a Strong Online Presence
In today's digital age, having a strong online presence is crucial for reaching your target audience. Do this by creating a well-designed professional website about who you are and what you do, setting up social media profiles to build credibility, and utilizing digital marketing strategies to reach a larger network. These essential elements serve as the first online face for potential clients who want to learn more about you. Building a reputable online presence takes time and effort, but the long-term benefits are undeniable. SEO and Social Media are important whether you are a service based business or a product based business. Find an expert that can help you with these areas.
You don’t have to be the one to do everything in your business, there are experts out there that can help. Busy isn’t a badge of honour. Find that balance so you can live a happy, healthy lifestyle.
Starting your own business is a journey that requires dedication, resilience, and strategic planning. By implementing these tips, and staying committed to your vision, you can set yourself up for success in the competitive business world. Remember that challenges are inevitable, but with the right mindset and strategies in place, you can navigate the path to entrepreneurship and achieve your business goals. Good luck with your entrepreneurial endeavours!
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