The job losses and insecurity in today’s economically troubled times has accidentally become an opportunity for many. The numbers of startup small businesses and the self employed are on the increase. If you are successful it can be far more fulfilling than being employed. It can be wonderful to work hard and reap the rewards of that work yourself. But a huge number of startups fail within the first few years. Planning things properly from the outset can meant the difference between success and failure in those early days. 

The tips below are not a complete list, of course. However speaking from personal experience I think these are a few of the most important factors for success:

• Ask yourself: Is this your passion. The path before you is going to throw you a lot of tough challenges. If you’re not passionate about what you do, chances are you won’t make it.
• Hire an accountant. My advice is don’t go it alone when it comes to taxes unless you have experience with it – letting an accountant deal with it can really save a lot of hassle. I’d say do this for at least your first year or two – then you can take it over.
• Go online. The net is your friend. Whatever your industry, it’s pretty much guaranteed that many of your customers will be looking online. There has never been a more effective way of getting leads and customers. Ensure that you get yourself a decent website. I would especially recommend delving into Google Adwords and SEO to gain traffic from search engines.
• Dont ignore your brand identity. I include this here because it’s often done badly and then left alone for years. A good quality logo design can take you a long way. It’s similar to meeting a client wearing shabby clothes or dressing smartly – first impressions can really make the difference. Have a look online for some examples of custom logo designs and go from there. Graphic design services have become a lot more affordable compared to a few years ago. Also get things like business cards and stationery design sorted out from the outset.
• Learn from your competitiors. Then Improve on it. The wisest thing you can do is take a good long look at who your competitors are and how they do it. They have years of experience on you and you shouldn’t discount that. But go one further and see what they could be doing better. Find yourself a Unique Selling Point, no matter how small. Without this no business can succeed.
• Dont waste money on advertising that doesn’t work. You have plenty of options to look at for sources of advertising and marketing. However you’d be surprised at how many small businesses aren’t aware of whether their advertising is paying off, and consequently they keep wasting money on ineffectual methods. Try and get an idea of where your business is coming from.  This is easier with online marketing, but can be as simple as asking your customers where they heard about you. Come back to this periodically – at least a few times a year, and tweak your strategy.