Marissa Perez, Author at UNOVA Coworking

Starting a new business can be a daunting task. It’s easy to feel overwhelmed by the fear of failure and give up before starting. UNOVA Coworking explains that the right mindset and planning can help you overcome these fears and be successful at your startup.

Begin With a Business Plan

Creating a business plan is one of the best ways to prepare for success, notes the U.S. Small Business Administration. Having a clear sense of your long- and short-term objectives is essential for planning. This document can assist you in defining your goals, strategies, and tactics for achieving them.

It can also help you stay organized and focused, essential when starting a new business. The plan should include a section about using technology to automate customer payments as a vital part of your vision.

An online payment system offers many benefits, including security, convenience, and assurance for your customers. A great option is Helcim, an online payment system with low fees.

Connect With a Mentor

Grand Canyon University points out that one of the best ways to overcome fear is to connect with someone successful in the industry you’re looking to enter. A mentor can provide invaluable insights and advice and help you avoid common pitfalls.

Look for someone who has started a business in your industry. A mentor can provide you with first-hand experience and knowledge about what to expect. You can also find mentors through online forums, social media, or your local chamber of commerce.

Keep Your Goals Achievable

One of the best ways to overcome fear is to set achievable goals. This small step can help you stay motivated and positive as you progress. When your goals are attainable, you can celebrate each milestone along the way.

Don’t Skip Marketing Your New Business

When you start a new company, marketing is vital, and you don’t have to hire an advertising agency. You can handle several parts of branding and advertising yourself. For example, it’s simple to create an ad for social media with this Facebook ads maker. You can include your logo, graphics, fonts and color combos to customize your offering and let the nearly 3 billion users of the platform know who you are and what products or services you offer.

Take Care of the Legal Requirements First

One of the most important and often most daunting aspects of starting a business is taking care of the legal requirements. These can include registering your company name and getting licenses and permits.

Many online services can help you take care of the legal requirements. For example, LegalZoom can help you register your business name and create your business structure. Flexibility, limited liability, tax benefits, and less paperwork are just a few advantages of having an LLC as your legal business entity.

Change Your Attitude About Failure

Failure is one of the biggest fears people have about starting a business. But you can change your attitude about failure and use it to your advantage.

Thomas Edison, the inventor of the light bulb, is an excellent example of someone who used failure to his advantage. Edison failed many times before creating the light bulb, but he didn’t let those failures stop him. He used them to learn and improve his invention.

Success Is Obtainable With the Right Steps

Fear of failure can prevent you from starting a business, but you can overcome it with the right mindset and planning.

UNOVA Coworking believes in fostering community to help spur the growth of small businesses and organizations in and around Western New York and the southern tier. Reach out for more info today!

Questions or comments? Have any additional tips or resources to share? Reply below or reach out to Marissa Perez.

When it comes to business, there’s always strength in numbers. If you want to take your company to the next level, you’ll need to put together a cohesive team and learn to manage them in the era of remote working – here’s how you can get started.

Hiring Smart

Before you begin the hiring process, it’s important to outline exactly who and what the company requires to succeed. Many new ventures begin with just a CEO and an accountant but, as you begin to expand or take on new investment, you may need to accommodate your growth with a few key additions. At this crucial stage, your new personnel need to represent immediate value – for example, marketing generalists or sales representatives can help increase revenue or spread brand awareness, or a product manager could help to develop your product range and supply chains.

When it comes to actually hiring, the process can be as simple or complex as you need it to be. Generally speaking, however, it’s worth taking time to plan and structure – write out the desired skills, available budget, and experience required. There are hundreds of forums and platforms to help you discover talent. If you find that you’re time-poor, it could be worth hiring a recruiter to help filter out the best candidates and remove the burden of scrolling through resumés. If you’re a microbusiness, try to avoid larger recruitment agencies as you’ll find more affordable fees attached to smaller companies.

Planning Ahead

It’s crucial that new hires understand exactly where you intend to take your company and what their role is in its development. Maybe your priority is to generate high-quality leads and establish your brand within a particular demographic, or to dominate an emerging market, spreading the word as quickly and indiscriminately as possible – whatever your aim, it needs to be communicated clearly, as confusion can quickly lead to lapses in productivity. Create a process map to help to alleviate this issue and enable you and your team to analyze your shared processes and outcomes, helping everyone to stay organized.

To make life easier for everyone, it’s also important to do some work independently. This means taking everything you already understand about your business and your industry and writing the information down in the form of a mission statement. Until now, much of your company’s brand values, work practices, and long-term objectives have lived inside your head – if you want to successfully transition into a team-based business, you’ll need to be generous with knowledge and prioritize patience and clarity.

Managing Remotely

Even with all the right preparation, you’ll never know exactly what you’re undertaking until the team is formed and the work is underway. There are believed to be three primary management styles and up to ten sub-styles – it’s up to you to recognize your own strengths and apply these accordingly. It’s also important to remember that the world of work is changing rapidly and, in this day and age, talent often recognizes its own value. Familiarize yourself with the latest trends in company perks, mental health awareness, and paid leave/vacation allowance.

Remote working can make management tricky at times but you’re likely to turn off good workers if you insist too strictly on in-person attendance. A good strategy is to divide the week up with some days given for remote working and others for office work. With the right communication tools, there’s no reason why virtual management can’t work, just be certain to check in regularly and make use of collaborative software.

It’s always a nervy moment for a company when it comes time to expand, but if you can provide clarity of vision, keep an open mind, and collaborate with your new hires, there’s no reason why your business shouldn’t thrive.

UNOVA is a coworking space established in 2018, offering a range of facilities for emerging businesses. Learn more at www.unovacoworking.com

Questions or comments? Have any additional tips or resources to share? Reply below or reach out to Marissa Perez.

Author: Marissa Perez

How to Overcome Failure and Succeed at Your Startup

Easy Expansion: Hiring and Managing Remote Workers