Beverley Merriman

14/07/2008 In Business, Entrepreneur, Tools & Tips by Beverley Merriman

Tips, tricks, considerations, experience, lessons - call it what you wish, but here is what I know about starting a business.

1. You must be in love with concept. In actual fact you must be fascinated and completely obsessed with the concept.
2. Budget is not an issue. Creativity is.
3. Business branding is important. Spend time on the concept, name, slogan and corporate identity. This will not change for a long time.
4. Communication is key. Keep all communication clear and concise.
5. Promotion will include perfect pitching and awesome networking skills
6. Professionalism and astounding service is the best marketing tool.
7. The size of your startup is not a reflection of your business skills. More employees, premises and flashy branding do not make you a better business person.
8. Outsourcing rules! Create and manage ad-hoc working teams for best results.
9. The accounting, legal and tax issues need to be right from the word go – these are the basics.
10. Execution will determine your success. Stop talking and put those ideas into action. That is what counts and puts money in the bank.

Did I miss anything?