The Start Up Loans company has helped over 4,000 women launch their own businesses in the UK, in the last financial year.
In total, there were almost 10,000 new businesses established with the help of the scheme.
The government-backed scheme found that women founded 41 per cent of these companies, with the highest number of female-led businesses opening in London, the South West and West Midlands.
We also recently reported that more young people were becoming their own boss through the Start Up Loans scheme. The scheme’s internal data shows that 14 per cent of these new companies were founded by 18-24 year olds; and over a quarter were aged between 25 and 30.
Here the Start Up Loans Company experts list the top three habits you should have to run a successful business.
Start by planning everything in advance
A typical example of planning in advance is the festive season. For example, if you were working on a Christmas promotion, consider starting to plan in the height of summer.
Early planning and preparation is vital to your success. Make sure that you have the right number of staff, enough stock and continue to maintain a quality service.
It’s worth keeping a calendar of upcoming occasions and events to plan your campaigns around. Keep in mind the big holidays, but take into account the lesser-known ones too, if they are related to your business.
It’s important to know exactly what is going on in your business at any given moment. It’s vital to keep a close eye on your monthly and yearly targets, expected progress and profits.
Nobody knows your business better than you
So let your personality shine through and be the face of your business.
If you want to be successful, you’ve got to be an advocate for your business. When people think of Microsoft, they think of Bill Gates.
Running a successful business isn’t just about clever marketing or coming up with a new invention. It’s also about identity. You’ve got to put your face to your company and represent your brand as best you can. Remember people prefer to do business with people.
You should always be professional, approachable, and have faith in your business. If you’re shy, it might worth to invest in a public speaking lesson or test your presentation skills in front of the mirror. This will help to build up your confidence when it comes to dealing with clients and the media.
And finally: find a mentor who inspires you
Not many business owners would be where they are today without guidance from a mentor. Your inspirational figure can be anyone; a family member, an ex-colleague, or an established businessman or woman.
Don’t hesitate to contact someone who has walked the journey that you are planning, and has the success to prove it.
If you don’t have a mentor yet, attend networking events or get in touch with local business owners who are willing to guide you through the maze to success.
After choosing your mentor, you should do everything you can to listen and learn from them. Let them know how and why they’ve inspired you.
Business is all about taking your chances and making the most of a good opportunity. So pluck up the courage to approach your mentor.
About the author:
A business mentor and training specialist since 1991, Elsa Caleb is now a valuable member of the Start Up Loans team. As a professional Business Advisor, Elsa assists start up businesses in strategy, finance and marketing; drawing on her exceptional experience in both the USA and UK.