Tag Archives: Business Advice

ARE YOU READY TO START YOUR OWN BUSINESS?

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In a Facebook group I am a part of someone recently posted they had launched their business a day before and had no sales yet, they were expressing how anxious they felt and already feeling like they wanted to give up.

There was SO much I wanted to say to her but the post got removed and so it sparked this blog post here (as well as other future ones), so if you are thinking about starting a business or you just started one and you want to know if you’re ready, then this blog post is definitely for you!

running ready into owning a business

Deciding to own a small business is a big leap, and knowing when you’re truly ready for it involves a blend of practicality, passion, and preparedness.

It’s like knowing when you’re ready to run a marathon. You wouldn’t just wake up one morning, lace up your sneakers, and hit the 26.2 miles without any training, right?

Similarly, diving into the world of small business ownership requires a bit of a warm-up and some serious soul-searching.

LET'S TALK MONEY

We’ve got to talk about the financial side of things first because, let’s face it; money talks. Are your finances in a healthy place? This doesn’t just mean having the capital to start your business or secure a loan IF you need to buy stock for example. It’s also about having a solid financial plan and a cushion for those initial months or even years when the business might not be profitable. It’s kind of like packing an extra pair of socks for a hike. You hope you won’t need them, but you’ll be glad they’re there if you do.

Having said that, it’s a common misconception that starting a business requires a hefty bank account or a rich nana ready to throw cash your way. The truth is, while having some capital can certainly ease the process, it’s not an absolute necessity.

The digital era has significantly lowered the entry barrier for many types of businesses. For instance, if you’re leaning towards offering a service, such as consulting, writing, or graphic design, your initial costs are surprisingly low. All you really need is a laptop, an internet connection, and your unique set of skills. Plus, there are countless free resources online to help you hone your craft and learn how to market yourself effectively. Social media platforms, in particular, offer a fantastic, cost-free way to get your name out there and start building a client base. Also, remember; to start you don’t have to have it all, it is ok to start with low stock, to promote using mock-up images, it’s ok; it doesn’t have to be perfect straight away.

Then, there’s the power of bootstrapping too. This approach involves starting small, reinvesting your early earnings back into the business, and growing organically. It might mean slower growth at first, but it allows you to maintain control and learn the ins and outs of your business without the pressure of paying back loans or investors.

In essence, the barrier to entry isn’t about how much money you have; it’s about your willingness to start with what you’ve got and grow from there. With a bit of creativity, persistence, and the right strategy, you can turn your business idea into a reality, no matter your financial starting point. So, don’t let the myth of needing a lot of money hold you back.

 

IT'S NOT JUST A JOB

Then, there’s the passion and the skills. Owning a business isn’t just a job; it’s a lifestyle. Do you feel a strong passion for what you’re planning to do? Are you ready to wake up thinking about your business, spend the day working on it, and go to bed with plans for the next day? Plus, it’s essential to have or be willing to develop the skills necessary for your particular business. Imagine you’re joining a band. It’s not enough to love music; you need to know how to play an instrument or sing.

 

HOW'S YOUR FLEXIBILTY?

Lastly, are you prepared to learn, adapt, and sometimes fail? The road to successful business ownership is rarely a straight line. It involves making mistakes, learning from them, and being flexible enough to adapt your strategies as you go. It’s a bit like playing a video game where you have to navigate through various levels, facing new challenges and learning new skills along the way.

SO... ARE YOU READY?

So, are you ready to own a small business? If you’ve got a solid plan, financial stability, unyielding passion, the necessary skills (or the drive to learn them), and the resilience to face challenges head-on, you might just be ready to take the plunge. Remember, it’s about the journey as much as the destination.

Your entrepreneurial journey is waiting for you, and there’s no better time to start than now.

 

Enjoy the ride!

a summary of the qualities you need to start a business

YOU'RE INVITED!

There’s two groups on Facebook that will benefit your business and I want to warmly invite you to join them!

I am very aware small businesses are doing it tough out there and by offering these groups I am giving you more opportunities to grow, to connect with other business owners and  massive sense of community because you are not alone out there!

The first Facebook group I would love you to join is Shop Small New Zealand , this is a group where small businesses from New Zealand are welcome to post daily – for FREE – about their business and their products. You can join for free and post for free, all we ask is that you help us grow the group because the bigger it gets, the more active audience we have, it benefits us all!

At the time of this blog post there’s already 7600+ members in the group with about 72% of them being active in it on a regular basis!

The second group on Facebook – also free to join – is my Learn>Grow>Sell group. This one is more for your business support, it’s where you – as a small business owner or someone who is thinking about becoming one – can ask any question you might have related to (your) business and I’d like to add; nothing is ever a dumb question; we have either all asked the same question before OR are wondering about it ourselves right now! It might surprise you how many other people you help by asking your questions 🙂

We’re a very friendly community too, it is important to me that you feel safe to grow your business with the help from the group.

HOW JOINING A MARKETPLACE CAN BENEFIT YOUR BUSINESS

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Here at The Hive NZ, we’re true fans of our marketplace of course… but why do we think all business owners should consider joining ours?

Diving into the world of marketplaces can be a game-changer for your business. Think of it as not just opening another door, but multiple doors, to a room filled with potential customers, collaborators, and opportunities.


Let’s break down ways a marketplace – like The Hive NZ – can really boost your business.


First off, exposure is key. By listing your products or services on a marketplace, you’re essentially putting yourself on a much larger map. This isn’t just about being seen by more eyes; it’s about being discovered by the right eyes. Customers who might never have stumbled upon your standalone website can find you easily on a marketplace. It’s like having a shop in a bustling market street instead of a hidden alley.

Then there’s the trust factor. Marketplaces – like The Hive NZ – have built-in trust because they offer customer reviews, secure payment systems, and buyer protection policies. When you’re part of a reputable marketplace, new customers might be more inclined to give your products or services a try, simply because they trust the platform. It’s a bit like riding on the good reputation of a well-loved market square.

Collaboration opportunities are another big win. Being part of a marketplace puts you in a community with other vendors and service providers. This can open doors to partnerships, cross-promotions, and collaborations that you might not have found otherwise. Imagine combining forces with a complementary business for a special promotion—both of you benefit from expanded reach and shared resources.

Great marketplaces – like The Hive NZ – offer you full access and ability to edit your SEO for your store, your socials and your products.
SEO, or Search Engine Optimization, can be a game-changer for you as a vendor in a marketplace. First off, think of SEO as the ultimate tool for visibility in the digital age. When your products or services are optimized for search engines, they are more likely to show up at the top of search results. This means that when customers are out there searching for something you offer, your stuff pops up first. It’s kind of like having a billboard on the busiest highway, but way more targeted. This increased visibility directly translates into more traffic, and more traffic means more potential sales. It’s a chain reaction that starts with smart SEO.
Not just that but also; as all vendors on the marketplace use the SEO to benefit – as a whole – collaboratively you pull more traffic in which benefits everyone; more traffic for all = more sales for all.

Let’s not forget about the insights. Marketplaces – like The Hive NZ – provide valuable data and analytics about your sales, customer behavior, and market trends. This information can be gold dust for refining your offerings, tweaking your marketing strategies, and even developing new products or services. It’s like having a bird’s-eye view of the market landscape, which can help you make smarter decisions.

Lastly, efficiency is a major plus. Efficient marketplaces – like The Hive NZ – offer tools and services that streamline operations, from inventory management to easy shipping settings. This can save you time and resources, allowing you to focus more on product development, marketing, and customer service. It’s the equivalent of having a team of helpers, making sure the back-end of your business runs smoothly while you focus on growth.


In a nutshell, tapping into the power of a marketplace can offer visibility, credibility, community, insights, and operational efficiency. It’s a strategic move that can help your business reach new heights. So, why not explore the possibilities and see where this marketplace can take you?

 

READ MORE ABOUT JOINING THE HIVE NZ