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7 Things Every New Entrepreneur Should Know

Starting a business is likely the most exciting time you’ll experience over the life of your new start-up. There’s the magic of creating something from scratch, overcoming adversity and seeing your business grown from nothing to hopefully something bigger. The other side of the coin is that running a business will get frustrating at times, because no matter how hard you try, you’ll repeatedly fail at something.

I’m that someone who’s been through the start-up stage  twice in my life. I started a successful cleaning business, and a pretty successful personal finance blog.

Being an entrepreneur is so rewarding….most of the time, and other day’s I want to run away without looking back.

If you’re on the fence of starting up a new business, here are 7 things new entrepreneurs should know.

1. Keep Your Day Job

You should always have a plan B in place, and if you’re really crative you’ll have plan’s C and D as well. Here’s the reality – You won’t make any money right away.There I said it, and got that out of the way. Majority of the money you make from your new business will go towards paying your personal monthly bills. Other parts of the income you bring in will be reinvested into the business. So, where does that leave you for leading a normal life? Think about it before you jump in with both feet.

2. You’ll Never be an Expert at Everything

Running a small business isn’t a job – it’s probably eight jobs in one.  Most people have a hard enough time doing two things well, let alone three or more. Secondly, you can’t become an expert at all the jobs you do. And if you try to take on more than you can handle, you’ll realize that the quality of your work is diminishing. So, be real with your self and save yourself a lot of grief by braining on board a bookkeeper, an accountant or any other specialist you may need.Outsource as necessary.

3. Small Business Owners Are Sales People Too

In the start-up stages, most business owners are sales people. Even though sales is not their forte, they’re the front line in the beginning. I’m not going to get into selling and how to sell, because that’s a whole separate topic. What I’m saying is you have to pay attention to marketing and the buying patterns of your customers. This is even more important in the very early stages of your business. Watch, ask, read the body language and be attentive to every need of your customer.

Talk about your business everywhere and to everyone. Business owners personally need to be able and ready to talk about their business to whoever at any time.

If I asked you what you did, would you be able to tell me in two or three sentences that told me not only about your business but why it might interest or matter to me?

4. People Are Cheap

People already have a hard time parting with their money, and they’ll be even more reluctant to part with their money to unproven new businesses. Why are banks reluctant to lend money to new start-ups? Because they’re unproven and are associated with a lot of risk.

5. Playing Fields Are Always Uneven.

Someone will always be better at you in something, offer a better or equally good product/service, and have stronger connections. There are the guys who are well known, the guys with deep pockets, entrepreneurs with solid track records and the guys who carry a combo of everything. It may be wise to shadow, partner or create a beneficial relationship with someone who’s possibly stronger than you in branding and growing your business.

6. Measure Twice And Cut Once

An old saying that my father always used to say. Work in the trenches will always equal to greater rewards in the future. Create a plan, stick to it and always plan first, do second.

7. A Good Idea Alone is Not Enough

“Anybody can have these ideas, but to actually do it is quite a miracle.” – Dorothy Vogel

Ordinary people who do extraordinary things. That needs to be the motto for any new small business owner. Remember that  it’s not the idea alone that makes money, but how the idea is developed and marketed that makes the money.

In conclusion…

Starting a business takes a lot of time and investment of a person’s financial, mental and physical resources. The last thing any new business owner want’s is to fail. Hopefully you’ll use this article to your advantage to save you some time or energy during the start-up phase of your new business.

Thank you for taking the time to read, and I wish you nothing but the very best with your new or existing business.

Eddie

Branding Your Cleaning Business

Branding is an essential part of any company, including your own newly started cleaning business. We as human beings have identies, be it our skin color, first and last name or even our background. It is something tha that uniquely sets us apart from the rest. In the same breath, it is essential to give your company an identitiy. Setting your self apart from the rest is crucial for future success.

There are hundereds of cleaning business already in existance within your 500 mile radius. Your business is the new kid on the block, so what will you do to standout from the rest?

Choosing your company name, logo, unique selling point, mission statement and color scheme make up your identity. It is essential to research before you conclude on anything, because it’s crucial for your new cleaning business to stand out in some way.

Most small business owners associate branding as being only for large companies. However, this is not the case. Getting it right from the start for your small business can have huge effects for your bottom line in the future. And with a little effort you can achieve a level of cohesiveness that your competitors lack.

Below are five main elements of branding your new cleaning business and how to make them work to your advantage.

1. Company Logo

Your logo is the visual representation of what your cleaning business is all about. Many business owners don’t put enough thought into this element for one reason or another. I thinkthis is a mistake. Creating a powerful logo is one of the simplest ways to differentiate yourself from the other cleaning companies. A well designed logo can capture the essence of your company.

There are basically three kinds of logos. Font-based logos consist primarily of a type treatment. IBM, Microsoft and Sony are great examples.

Next are logos that literally illustrate what a company does, such as when a house-painting company uses an illustration of a brush in its logo.

Final type of logo is one that uses abstract graphic symbols. Nike’s swoosh is a great example , which is also linked to the company’s brand.

Be creative and look at what others are using within your local cleaning industry. And never forget the saying: “A picture is worth a thousand words.”

If you’d like more info on creating an effective logo, read this article by Enterpreneur on how to create a logo.

2. Business Name

Your cleaning business name should tell the story of what you do in a nutshell. I remember when I first started out, I think it took me two days to come up with a company name for my cleaning business.

In the end, all the thinking came down to a simple name.

“Father & Son Cleaning Servcies”

It made total sense. I started the business with my fathers suggestion and he was also going to be my first employee. I wanted the name to reflect a family tradition and finally I wanted it to contain what we did, which was “cleaning services”.

I kept an eye towards the not so distant future, so I used the broad words “cleaning servcices” in the name. It did not limit us to office cleaning, construction clean up, commericial cleaning or one day if I wanted to jump into house cleaning and add that division to the company.

3. Color Scheme

Choosing the right color or mix of colors will enhance the overall branding process.  Consistency is key. After all the color(s) you choose will be used on the business cards, letterhead, t-shirts, truck lettering and brochures.

Setting yourself apart you take the first step to getting noticed.

4. Mission Statement

This is a brief summary of your goals and beliefs. By having an effective mission statement, it shows commitment to your potential customers. Prominently display your mission statement wherever possible.

5. Unique Selling Point

The Unique Selling Proposition (a.k.a. Unique Selling Point, or USP) is a marketing concept that was first proposed as a theory to explain a pattern among successful advertising campaigns. It states that such campaigns made unique propositions to the customer and that this convinced them to switch brands.

Your unique selling point/slogan encapsulates what you have to offer. Getting your slogan right can instantly associate your company with the service you offer.

Effective brainstorming on coming up with the right slogan can yield great dividends in the future.

 

Your unique selling point/slogan encapsulates what you have to offer. It can be described as an extension of your company name. Getting your slogan right can instantly associate your company with the service you offer.