Start Up - Part 3

IS YOUR BUSINESS LOCATION NEIGHBOURHOOD-FRIENDLY?

Choosing a location for your business generally has three main considerations – proximity to customers, suppliers and employees. Other issues are easy transport and parking facilities,proximity to competitors and affiliated businesses which could impact your business. Depending on the nature of the business, you need a location with ready access to enough potential customers. How many people actually pass by? How many would walk in? Foot traffic can make a difference and even the side of the street on which the address is. Unless you provide only services, you will need to depend on suppliers – distributors, wholesalers, manufacturers […]

Pitching your idea to investors …. in 30 minutes or less

You have a great business idea. Very soon it will become clear to you that to turn that idea into concrete reality will mean raising capital. You will need to sell the idea to investors. And usually you get a window of 30 minutes or less to make your pitch. Presenting your idea in a convincing and coherent way is a core competency for entrepreneurs. Here are some tips for perfecting your pitch: 1. Show it can be done Start creating or delivering the product or service on a small scale so that when you make […]

THAT FIRST YEAR AS AN ENTREPENEUR

Remember your first year as an entrepreneur? Or would you rather forget it? That was when you let yourself get wet behind the ears and learnt many lessons, mainly through trial and error. Ouch, some things still hurt! Here are some lessons all new entrepreneurs- can benefit from. They are lessons learnt the hard way. 1. Don’t take investors just at their word Investors or would-be investors may get very enthusiastic about your start-up idea.They will tell you it’s a winner and would be happy to back it. So you relax. The money is going […]

Shared Office vs Home Office

So, you’ve taken the leap. You have decided to give up working for others and start a business on your own. You have the determination and the drive – and are willing to do what it takes to make a success of your business. At this juncture, it is likely that you will need to take a long, hard look at your finances. What do you have in terms of capital? What can you invest in the business to give it the best possible start? Like most start-ups, your first thoughts might be to cut expenses wherever possible. One way to save, you might think, […]

Checklist For Business Travellers

You’re a business traveler. You know too well that things don’t always go as planned. To avoid hassles, even last-minute panics, here’s a checklist of things to pack, as collated from frequent travelers. Don’t leave home without them! Your own MiFi hotspot. It’s a credit card-sized package that give you access to 4G networks. Saves a lot of money on airport WiFi connections. It’s a personal favourite of many CEOs. Your own GPS navigation device for rental cars. Fits easily into your purse or carry-on. You can also turn your smartphone into a GPS device. It’s good to have a readymade mount for your dashboard. […]

Sharing An Office Makes Good Business Sense

One of the first important decisions a start-up or small business needs to make is – where do we work from? While a home office may seem like an attractive low – or no – cost option, there are several drawbacks, the main one being that it does not give a professional image. So you need an office which can serve not only as a place of business operations but also for client communication. You should choose your office space like you would make any other business decision. Look at the alternatives and determine your best course. Avoid cash drain […]