Don’t Forget the Details: Important Things Not to Skip When Starting Your New Business

Starting a new business can be a little overwhelming. Most new business owners have carried the dream with them for many years and it is easy to get swept away by the excitement of finally realizing this dream. It is also easy to overlook important details with so many larger things to take care of before the doors open on your new business. However, it is essential to the health of your new business that you pay attention to detail and not skimp on things that could ultimately become a determining factor in the success of your new business.

Business Cards

Business cards continue to be an irreplaceable marketing tool. This is true even in today’s high-tech world. One reason for this is the ease in which business cards are able to deliver the contact information for your business. Details like your business phone number, email address, and the physical location of your business can all be placed on a business card that potential customers will keep in their purse or wallet.

Business cards also give you the opportunity to add a personal touch while making the first impression on a potential customer. Exchanging business cards is usually accompanied by handshakes, smiles, and a bit of conversation. This social exchange helps to build a relationship with potential customers that could lead to later business.

Another benefit is that the people who accept business cards from you will oftentimes keep your card for quite some time. This will allow them to share this information with friends and family when the situation arises.

The Domain

A personalized domain name will add credibility to your website, as well as your business as a whole. Websites that use free domain names are often not viewed as possessing the same level of professionalism by potential customers. Many people are generally distrustful in the internet and e-commerce so you must put your best foot forward if you hope to earn their trust.

Another benefit of purchasing your own domain name is that it will provide you with complete ownership of the domain name you choose. If you decide at a later date to change web servers, you can only take the domain name with you if you are the owner. A new URL after you have gotten started in business will hurt any branding efforts you have made already. You will also have the opportunity to set up a professional email address that bears the domain name when you are the owner of the name. Having an email that matches the rest of your brand adds a professional air to it.

Adequate Insurance

Many business owners view insurance as an unnecessary expense and will try to get by with as little protection as possible. The problem is when you finally need to use your insurance policy, it may be a situation your business cannot survive without insurance. This is truer for fledgling businesses who are oftentimes one bad break from having their existence jeopardized.

As a business owner, you also take on the responsibility of ensuring the safety of others. This is especially important if your business requires manual labor or puts employees in situations that could be dangerous. Your business insurance policy should cover any injuries or loss of wages employees of your company may experience. Insurance will also provide protection for your business in the event a customer or passerby is harmed in any way. You should also obtain insurance that will protect your business from any damage incurred by fire or damage from a natural event like floods, heavy rains, or hailstorms.

A Mentor

A good mentor has already crossed the majority of hurdles you will face as a business owner. It is surprising to note how many business owners will start their business venture without taking advantage of the mentors that may be available to them. The first thing you gain with a mentor is the benefit of their experience. There are some things knowledgeable business people understand that’s not shared in books. Some experiences are personal enough that authors of business books may not want to write about them. However, a full explanation of how they handled these challenges can be extremely beneficial to new business owners.

A number of surveys and research findings reinforce the importance of mentors for entrepreneurs. Four out of five CEOs who took part in a 2013 survey reported accepting some type of mentorship. Additionally, another study showed that 93 percent of startups declared their mentorships were essential to the success they have experienced.

Starting and maintaining a healthy business is an extremely challenging feat. In the rush to learn the latest trends and take advantage of the latest technologies, many business owners forget the smaller things that can play a large role in the success or failure of their business. Paying attention to details like the four mentioned above can pay huge dividends for new business owners.

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About the Author Miha Matlievski

Breaking taboo called FAILURE by talking openly about it, sharing my fail stories and lessons that I learned on my way back from hell. I had four successful companies that at one time all went bankrupt. You could say that I went from hero to zero. But I managed to survive! Down that road I became Fail Coach not by degree but by failing personally and professionally, learning from my failures and growing. If you are looking for a coach try not to find one with shiny diploma hanging on his wall but one that has personally gone to hell and back.

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