Thanks to the internet, it’s not far-fetched to become a nearly overnight success in business. Given the right exposure, you can go from zero orders to too many to count in one viral post. Without having the proper structures in place this can cause some serious problems.
Rather than risk getting in over your head, it’s a good idea to develop some healthy old-school business habits to start things off right. Here are five habits every new business needs:
Old School Biz Habit #1.
Properly structure your business- Before your business takes off, it’s important to set things up for success. Determine what type of entity your business will be, obtain any permits, licenses, and authorizations you need. Decide if your business will become a sole proprietorship, LLC, or corporation. Identify your tax requirements and any other legal needs.
Old School Biz Habit #2.
Create a business plan- A business plan is a roadmap for where you want to head in your business. Proper business plans help identify what you want to sell, to whom, and what steps need to be in place to do business. Without a business plan you run the risk of throwing a bunch of stuff at the wall to see what sticks and wasting time and money along the way.
Old School Biz Habit #3.
Choose branding and stick with it- When customers are confused, they don’t buy. Your branding should indicate clearly who you are and what you offer. Keep your marketing consistent across all platforms so your customers know it’s you no matter where they encounter you.
Old School Biz Habit #4.
Build personal relationships- Try to make a personal connection with your vendors and customers as much as possible. Make a point to get to know the people you buy your resources from and be pleasant and positive in your dealings with them. People like helping people they like and the effort you put into building relationships will pay off when you hit roadblocks and need support.
Old School Biz Habit #5.
Be a part of your community- Whether your business is brick and mortar or virtual, you are part of a community. Engage with your community and have a presence worth paying attention to. Support your community with sponsorships or referrals. Be an asset to the community and they will repay you with business and referrals too.
