1. Do something you enjoy
One of the most important things about starting your own business is to make sure you enjoy what you are doing. When you end up working 15 hour days there is nothing worse than resenting it. Obviously you don’t love every minute of every day, but in order to commit and push through the hard days, you have to see that it will be worth it. If you aren’t in love with your own message then you will struggle to give it your all.
2. Don’t just do it for money
Although having a successful business can often lead to making money, don’t use this as your motivation. By doing this, you will lose sight of your morals, message and brand identity. For the first few years of Livia’s Kitchen I barely had a salary, people would often ask me how I could be so persistent and not go on lavish holidays like many of my friends. However, for me it was much more important to see my business grow and turn into something amazing. So really don’t let money be your motivator when you are starting a business, this will lose its appeal when you are no longer enjoying the work you do.
3. Be realistic
When you are setting targets for yourself and drawing up a business plan, make sure you are being realistic and accurate. There is no point setting yourself ridiculous and unachievable goals that you wont be able to achieve. Not only will this dishearten you, it will also put you on the wrong track. When you are first starting off, you want to set yourself achievable goals that you can steadily work towards, this will help you to build up your company slowly and make sure everything is done properly. You don’t want to rush things and do things half-heartedly otherwise you will need to patch up holes at a later date. Not only is this unproductive, it is likely to set you back in the future.
4. Surround yourself with the right people
This is so, so important! When you are first starting your own company you will be excited, exhausted and quite often overwhelmed. Having people that you can talk to and can advise is one of the most important and necessary things. My family were my rock when I was starting Livia’s Kitchen (their kitchen was my crumble factory), they offered advice, supported me throughout and made sure I didn’t lose my mind!
5. Don’t be scared to make a loss
Another super important point! Businesses will always make a loss in the first few years unless you’re extremely (which is very rare), so you need to make sure you don’t panic to much when your first year of trading results in a substantial loss. As long as you are doing everything correctly and have listened to financial advice, this loss will start turning into profit in the next few years, you just need to stick to your guns and push forward.