- By - reena
- September 10, 2024
- Comments (0)
As your local councilor, I interact with many dedicated business owners and their teams, and I take the time to hear about their success stories and aspirations. And we make every effort to support them as best we can so they can continue to contribute to the local economy and communities.
I can say that you are not alone if you want to start your own business. For many, the opportunity to be your own boss, set your own schedule, and spend your days doing what you love most sounds like a dream come true.
However, not everyone is cut out for business ownership. Great ideas alone will not make a startup successful; you also need to plan carefully and work hard.
If you want to start your own small business, one of the first things you’ll need is a clear and compelling vision. Having a clear vision of the type of product or service you want to launch is extremely beneficial. You can also consider offering a better version of any current product or service that you believe could be a game changer for the community.
It is highly recommended that you write a business plan once you have decided on an idea. Making a detailed business plan not only demonstrates a sincere level of dedication but also forces potential business owners to respond to critical questions at the start of the development process.
The importance of due diligence cannot be overstated when starting a new business. Nothing wrong with a little friendly competition. It allows entrepreneurs to constantly innovate and improve their products and services. Understanding your target market, your competitors’ strategies, and how your company fits into this environment is critical for a successful business launch.
While you’re at it, be aware of your own motivational level, financial risk tolerance, and willingness to sacrifice to achieve success. Yes, we all aspire to be a Billionaire. But what are you prepared to give up in order to achieve that objective? How many hours a week will you consistently put in? How far are you willing to go from your comfort zone?
A business owner must be aware of new developments. Are your customers looking for something you don’t have? Is there another type of customer you should target? Reading as much as you can about your industry and speaking with your customers will help you find answers.
As a business owner myself, it is my constant endeavor to strongly support regional small businesses. The exciting and ever-changing entrepreneurship landscape in the local community creates jobs and stimulates the economy. I’ve also noticed that small businesses are more inventive and come up with novel solutions to local problems.
We are also excited to announce that the Hills Shire Council has partnered with Service NSW to make it easier for locals to open a cafe, small bar, or restaurant through Easy to do Business- a business help desk and concierge program for the local community.