Fred Truman, Negosentro | If you’re an entrepreneur, the start-up of your business will be the biggest challenge you’ve ever faced. Competition in business is merciless. Cash flow is extremely limited. Sales are probably minimal. Truthfully, cash flow problems are most likely to cause a business to fail.
How, then, you ask yourself, will you survive your first year in this jungle? It looks completely undoable. Luckily, there are a few tricks you can use to keep your business on the right track.
Top 5 Tips to Get Past the First 12 Months in Business
- Combine social media, content and SEO
If you’re not on social media, no matter how young your company is, your chances of succeeding are halved. Everything happens online nowadays. On top of that, you’ll have to write engaging content for your social media account.
According to statistics, as you should know by now, SEO is crucial to a business. Proper keywords bring you customers, bad ones drive them away. All keywords were probably used already, but that’s not a problem if you use them wisely.
- Embrace automation
If you already have mountains of papers in your office, you’re doing business the wrong way. Time is precious and more importantly, time is money. Use computers and any other type of automated device that can facilitate your work.
Nowadays, you can do everything on a computer. Smartphones, too, can make a difference in your firm.
- Attract investors
If your company can offer something business hasn’t seen before, you can get investors to invest in it. This way, you won’t need to worry about cash flow. The good thing about investors is that they could accept to be paid back in shares in your company.
If you do so, make sure they won’t be making more money than you.
- Don’t overestimate advices
When you get in business, you quickly find out how many people think they know everything about it. They’ll be steadfast you follow the path they’re telling you about. Don’t do that.
Best case scenario, you just get where they are, but that isn’t as good of a prospect as it sounds. Go against the grain and do your own thing. Even if you fail, you’ll know you did things your way.
- Get a business loan
If cash flow is the problem you’re worrying about, you should consider getting some online loans (from websites like Northcash Loans), personal loans or even installment loans.
A loan can solve all the monetary issues in your company. Don’t borrow more than you really need, though, because the interest rate could get you in debt. Additionally, you shouldn’t get financing until it is utterly mandatory, and you have the financial means to repay the loan.
The first year in business will be difficult. There are so many things you must take into consideration and you might get frequent bouts of sweat anytime something minor goes wrong.
If you’re determined and you implement the 5 tips above, however, you can rest assured you will be fine. As an entrepreneur, you must have nerves of steel, so work on that, as well. It certainly doesn’t help if you lose your mind over everything.