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Things to do Before Starting a Business
Are you thinking of starting a business but haven't started yet? This week on Sweat, Grit & Hustle, Tracy is giving you her top tips for giving your business the best start and best chance of success. Listen in to find out how to get ahead of the curve and if your business idea has the legs or not.
KEY TAKEAWAYS
- Do your Research - Understand what it will take to be a great player in your industry. Who are your competitors, who are the major players? Are you offering something better or cheaper?
- Who's your Audience - Do you know who your target customers are? The better you know who will be buying what you’re selling, the better you can plan and market your business. You’ll be more successful if you’re meeting the needs of your target customer. Get yourself an avatar of who your customer is.
- Understand your Mission - What is the purpose of your business and how are you going to achieve it. This could be a financial mission or a philanthropic one where you give to others. Your mission will shape all of your decisions and keep you focused on what you should be doing and when you should be doing it.
- Determine your legal structure - You’ll need a qualified advisor such as an accountant. Remember that your structure may change as you grow.
- Get a Grip on your Finances - What would you need to get started? What can wait until you’re established? What are your running costs? What is your desired income?
- Create your plan to raise your funds - A business plan maps out your plan to profitability. If you’re taking out a start-up loan they’ll want to know when you’ll be profitable and also that you really understand your business.
BEST MOMENTS
‘The more you understand who your customer is, the better you can hear yourself to solving their problems’
‘There’s no point working on stuff that has nothing to do with where you’re going and why you’re going there’
‘Think about where you should be using that money instead of on flash stuff’
‘The tax man has to have his piece of the cake’
ABOUT THE HOST
With over 25 years of experience in IT Management and Business Consulting and 10 years plus helping hundreds of property investors through training, mentoring and speaking; Tracy founded Witch Property. Tracy is renowned for her knowledge on property & business and her ability to sell, market and grow the property individuals and companies she works with.
With a wealth of experience in business and property, Tracy has a rare capability of mixing her skills in this space with her knowledge of the mind, to ensure a truly rounded experience for growth and development.
Tracy on Facebook
Follow Tracy on Instagram
Tracy's LinkedIn
PODCAST DESCRIPTION
This is a podcast for anyone starting out in business with a willingness to learn from others. Hear stories from guests that have gone from zero to hero in their business and find out what advice they have to share. Tracy will also be bringing you stories from everyday people who are just starting, or are only part way through their own story to success.
View all episodes
By Tracy Cartland-Ward & Dawn WillockAre you thinking of starting a business but haven't started yet? This week on Sweat, Grit & Hustle, Tracy is giving you her top tips for giving your business the best start and best chance of success. Listen in to find out how to get ahead of the curve and if your business idea has the legs or not.
KEY TAKEAWAYS
- Do your Research - Understand what it will take to be a great player in your industry. Who are your competitors, who are the major players? Are you offering something better or cheaper?
- Who's your Audience - Do you know who your target customers are? The better you know who will be buying what you’re selling, the better you can plan and market your business. You’ll be more successful if you’re meeting the needs of your target customer. Get yourself an avatar of who your customer is.
- Understand your Mission - What is the purpose of your business and how are you going to achieve it. This could be a financial mission or a philanthropic one where you give to others. Your mission will shape all of your decisions and keep you focused on what you should be doing and when you should be doing it.
- Determine your legal structure - You’ll need a qualified advisor such as an accountant. Remember that your structure may change as you grow.
- Get a Grip on your Finances - What would you need to get started? What can wait until you’re established? What are your running costs? What is your desired income?
- Create your plan to raise your funds - A business plan maps out your plan to profitability. If you’re taking out a start-up loan they’ll want to know when you’ll be profitable and also that you really understand your business.
BEST MOMENTS
‘The more you understand who your customer is, the better you can hear yourself to solving their problems’
‘There’s no point working on stuff that has nothing to do with where you’re going and why you’re going there’
‘Think about where you should be using that money instead of on flash stuff’
‘The tax man has to have his piece of the cake’
ABOUT THE HOST
With over 25 years of experience in IT Management and Business Consulting and 10 years plus helping hundreds of property investors through training, mentoring and speaking; Tracy founded Witch Property. Tracy is renowned for her knowledge on property & business and her ability to sell, market and grow the property individuals and companies she works with.
With a wealth of experience in business and property, Tracy has a rare capability of mixing her skills in this space with her knowledge of the mind, to ensure a truly rounded experience for growth and development.
Tracy on Facebook
Follow Tracy on Instagram
Tracy's LinkedIn
PODCAST DESCRIPTION
This is a podcast for anyone starting out in business with a willingness to learn from others. Hear stories from guests that have gone from zero to hero in their business and find out what advice they have to share. Tracy will also be bringing you stories from everyday people who are just starting, or are only part way through their own story to success.