Signposting for Success
Running your own business can be both rewarding and draining. One of the traits often flagged as a reason for wanting to start their own business by founders is the fact that they are the boss, however this position then comes with the challenge of answering all of the questions that crop up as the business grows.
To try to help understand this NatWest, through working with thousands of business owners week in and week out, can share the most popular tips and suggestions to help you prepare.
Be honest with yourself and work out your strengths and weaknesses – we are all human so we will naturally have some areas that we are not so good at. Once you are clear on your weak points think about how you will tackle them – training, learning, mentoring or outsourcing ?
Family
You will be injecting a huge amount of time into your business so it is key that your loved ones know this before you start and you have them as cheerleaders as opposed to another hurdle to negotiate.
Loneliness
Mumpreneurs Networking Club, NatWest Boost events overcome that feeling of isolation by meeting regularly with like minded people giving you the chance to realise that you are not the only one struggling to find customers, juggle the finances or managing staff.
Accountability
Just because you are giving away your time to research and build the business doesn’t mean you shouldn’t value it – hugely important that you have a mentor or sounding board that will help you to hold yourself to account to ensure that your business is delivering the progress you need to see to ensure that all is heading in the right direction. Mentors Me is the main portal to help find mentors, some free, some paid for although I would always suggest finding your own as you meet people and find those you relate to best and hold the most relevant experience based on your ambitions.
Research
Ask your local library what information and data you can access through them to help your business. City Business Library or British Library are great national resources offering some wonderful evidence and data to help you in your business.
Business support
National Enterprise Network Business Support Helpline Growth Hubs great mix of online resources, guides and events from these national bodies
Public sector contract opportunities
Be aware of public sector contracts worth £10k+ https://www.gov.uk/contracts-finder
Companies House
Find out from Companies House more about a company you may be about to do business with https://beta.companieshouse.gov.uk/ and whether you should !
Intellectual Property Office
Having the right type of intellectual property protection helps you to stop people stealing or copying the names of your products or brands, your inventions, the design or look of your products or things you write, make or produce
Twitter Hours
A Twitter hour gets set up on Twitter at a specific date and time that allows users to contribute by using a # (hashtag) to a conversation. During most twitter hours participants get the chance to promote their businesses as well as socially interacting with others taking part with a mutual interest in the topic. #MNCHour happens each term time Wednesday 8-9pm and brings together business owners and supporters with a passion for supporting women in business.
If you need further assistance then please do not hesitate to contact nick.howe@natwest.com at NatWest who has been delighted to work with Mumpreneurs Networking Club over the last 4 years.
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