By getting feedback from people close to you and in your industry, you\u2019ll soon pick up on competitor approaches, concepts you perhaps hadn\u2019t thought about, and get an opportunity to refine your approach before actually starting the venture.<\/p>\n 2.\u00a0<\/span>Invest in your business.<\/strong><\/p>\n A small business is a balance sheet process more than it is an income statement exercise. If you\u2019re not willing to put 20 to 30% of your net worth in cash into the business, the significance of it in your life is not worth it, and will make it tough for you to raise money.<\/p>\n 3. Ride the wave<\/strong> of industry growth<\/strong>.<\/p>\n It\u2019s often difficult to float a new business that\u2019s a totally new concept. Look at trends in the market where hyper-growth is happening and position yourself there. You\u2019ll learn from the innovation and benefit from the hype.<\/p>\n 4. Grow your brand<\/strong> as a person and a business<\/strong>.<\/p>\n Create an identity that flows into your office space and onto your web identity. Participate in conversation online and attend speaker events to cement yourself as an authority or rule-breaker in the industry.<\/p>\n 5. Empower people.<\/strong><\/p>\n Empower people to achieve goals that they didn\u2019t think possible, and at the same time, leverage your operations by involving passionate people in your business. Don\u2019t worry that they might not be experienced in the field; position the dream as something tough but achievable, and make them a part of it.<\/p>\n <\/p>\n One of the most exciting things about working with a start-up is their strong belief in the work they\u2019re doing and the energy they bring to a project. If you can convey this enthusiasm in your pitch and carry it through to your work, you will find external stakeholders and team members cannot help but gain motivation from it.<\/p>\n 2. Flexibility is your friend.<\/strong><\/p>\n Interns, short-term contracts, volunteers, they all help you be flexible to maintain a low cost base whilst delivering on essential tasks you may not have the time or budget for yet. Make sure you understand their aims and objectives, so the experience is beneficial for all, and you will find means of growing whilst not having to make risky, long-term financial commitments.<\/p>\n 3. Think short-term while planning for the long-term.<\/strong><\/p>\n Building the strategy, relationships and vision to deliver for the long term will make your business really successful in the years to come. Be clear on that, but accept it will likely change as you learn and grow. Equally, you\u2019ll be living hand to mouth at the beginning, so make sure you make the most of that experience and the learning that comes from it. Being low on cash can lead to innovation (the most exciting things are created on a shoestring) and will teach you skills in resourcefulness which will continue to be useful as your business grows.<\/p>\n 4. Understand who your key stakeholders are and do what it takes to deliver value to them.<\/strong><\/p>\n Why do people want to buy from your business? It\u2019s easy to get caught up in yourself when you\u2019re starting out. Make sure you understand why people are getting involved and that it works for both parties, otherwise, it\u2019s not going to last.<\/p>\n 5. Beg, borrow and steal.<\/strong><\/p>\n So perhaps don\u2019t do the last one, but if you can get it for free, do. Sell, sell, and sell again. Get friends, family and frankly anyone who will listen behind you and don\u2019t forget to keep them engaged. You never know when they\u2019ll be the one who\u2019ll make a world of difference for your business. People love to help and they\u2019ll get a lot from it too. Just don\u2019t forget to say thank you \u2013 so simple, but means so much.<\/p>\n <\/p>\n I had always worked hard, or so I believed, but working for yourself takes it to a new dimension. However, try to outsource the things you can e.g. book keeping, printing, and admin. It is tempting to do it all yourself, but you will end up exhausted. Delegate if you can and automate wherever possible.<\/p>\n 2. Have a plan.<\/strong><\/p>\n If you have a plan and a structure you are much less likely to deviate or get distracted. Within that plan, look at ways of how to get to where you want to be. Accept help but be careful – everyone is trying to sell you advice and guidance. Whilst that isn\u2019t inherently wrong, you still need to \u2018get on with it\u2019.<\/p>\n 3. Be prepared to be flexible.<\/strong><\/p>\n Sometimes you need to change your original plan as you find that the market responds better to one aspect of your business than another. So while in tip two I said \u2018have a plan\u2019, remember it is good to be flexible otherwise you may just miss a great opportunity. Having said that, sometimes it is hard to work out what is merely a distraction and what is needing flexibility!<\/p>\n 4. Don\u2019t let people put you off.<\/strong><\/p>\n Some people may try and talk you out of what you are doing. Do not let them put you off. They are saying more about themselves than they are about you. Take the plunge, have self-belief, focus.<\/p>\n 5. Be organised.<\/strong><\/p>\n It is helpful if you can be organised as you will achieve much more. I am a maker of lists. Alternatively, employ someone to help you who is organised if you aren\u2019t!<\/p>\n <\/p>\n Thanks to all our contributors for their valuable advice. For more expert tips be sure to follow us on\u00a0Facebook<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Structuring a start-up or small business can seem a daunting prospect. With a host of issues to consider, and often not much experience to base your decisions on, it\u2019s easy for a start-up to seem insurmountable. Thankfully, many others have already walked this path and are able to share their experiences. In today\u2019s edition of \u2018Tips from the Experts\u2019, we asked three business professionals to share their top five tips on how to effectively structure a start-up or small business. Murray Legg, Business Strategist at Webfluential 1. Pitch your business to as many people as possible. By getting feedback from people close to you and in your industry, you\u2019ll soon pick up on competitor approaches, concepts you perhaps hadn\u2019t thought about, and get an opportunity to refine your approach before actually starting the venture. 2.\u00a0Invest in your business. A small business is a balance sheet process more than it is an income statement exercise. If you\u2019re not willing to put 20 to 30% of your net worth in cash into the business, the significance of it in your life is not worth it, and will make it tough for you to raise money. 3. Ride the wave of industry growth. It\u2019s often difficult to float a new business that\u2019s a totally new concept. Look at trends in the market where hyper-growth is happening and position yourself there. You\u2019ll learn from the innovation and benefit from the hype. 4. Grow your brand as a person and a business. Create an identity that flows into your office space and onto your web identity. Participate in conversation online and attend speaker events to cement yourself as an authority or rule-breaker in the industry. 5. Empower people. Empower people to achieve goals that they didn\u2019t think possible, and at the same time, leverage your operations by involving passionate people in your business. Don\u2019t worry that they might not be experienced in the field; position the dream as something tough but achievable, and make them a part of it. Richard Raynes, Managing Director of SportInspired 1. Show your passion. One of the most exciting things about working with a start-up is their strong belief in the work they\u2019re doing and the energy they bring to a project. If you can convey this enthusiasm in your pitch and carry it through to your work, you will find external stakeholders and team members cannot help but gain motivation from it. 2. Flexibility is your friend. Interns, short-term contracts, volunteers, they all help you be flexible to maintain a low cost base whilst delivering on essential tasks you may not have the time or budget for yet. Make sure you understand their aims and objectives, so the experience is beneficial for all, and you will find means of growing whilst not having to make risky, long-term financial commitments. 3. Think short-term while planning for the long-term. Building the strategy, relationships and vision to deliver for the long term will make your business really successful in the years to come. Be clear on that, but accept it will likely change as you learn and grow. Equally, you\u2019ll be living hand to mouth at the beginning, so make sure you make the most of that experience and the learning that comes from it. Being low on cash can lead to innovation (the most exciting things are created on a shoestring) and will teach you skills in resourcefulness which will continue to be useful as your business grows. 4. Understand who your key stakeholders are and do what it takes to deliver value to them. Why do people want to buy from your business? It\u2019s easy to get caught up in yourself when you\u2019re starting out. Make sure you understand why people are getting involved and that it works for both parties, otherwise, it\u2019s not going to last. 5. Beg, borrow and steal. So perhaps don\u2019t do the last one, but if you can get it for free, do. Sell, sell, and sell again. Get friends, family and frankly anyone who will listen behind you and don\u2019t forget to keep them engaged. You never know when they\u2019ll be the one who\u2019ll make a world of difference for your business. People love to help and they\u2019ll get a lot from it too. Just don\u2019t forget to say thank you \u2013 so simple, but means so much. Kate Gaskin, Director of Right Angle Events Ltd 1. Be prepared to work very hard. I had always worked hard, or so I believed, but working for yourself takes it to a new dimension. However, try to outsource the things you can e.g. book keeping, printing, and admin. It is tempting to do it all yourself, but you will end up exhausted. Delegate if you can and automate wherever possible. 2. Have a plan. If you have a plan and a structure you are much less likely to deviate or get distracted. Within that plan, look at ways of how to get to where you want to be. Accept help but be careful – everyone is trying to sell you advice and guidance. Whilst that isn\u2019t inherently wrong, you still need to \u2018get on with it\u2019. 3. Be prepared to be flexible. Sometimes you need to change your original plan as you find that the market responds better to one aspect of your business than another. So while in tip two I said \u2018have a plan\u2019, remember it is good to be flexible otherwise you may just miss a great opportunity. Having said that, sometimes it is hard to work out what is merely a distraction and what is needing flexibility! 4. Don\u2019t let people put you off. Some people may try and talk you out of what you are doing. Do not let them put you off. They are saying more about themselves than they are about you. Take the plunge, have self-belief, focus. 5. Be organised. It is helpful if you can be organised as you will achieve much more.<\/p>\n","protected":false},"author":1,"featured_media":8309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,217],"tags":[136,135],"class_list":["post-2208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-growth","category-expert-tips","tag-small-business","tag-start-up"],"yoast_head":"\n
\n![\"Murray-Legg-1\"](\"http:\/\/uk.instantoffices.com\/blog\/wp-content\/uploads\/2015\/10\/Murray-Legg-1-300x232.jpg\")
1. Pitch <\/strong>your business to as many people as possible.<\/strong><\/p>\nRichard Raynes, Managing Director of SportInspired<\/a><\/em><\/h2>\n
\n![\"richard-raynes\"](\"http:\/\/uk.instantoffices.com\/blog\/wp-content\/uploads\/2015\/08\/Richard-Raynes-300x200.jpg\")
1. Show your passion.<\/strong><\/p>\nKate Gaskin, Director of Right Angle Events Ltd<\/a><\/em><\/h2>\n
\n![\"kate-gaskin-768x883-720\"](\"http:\/\/uk.instantoffices.com\/blog\/wp-content\/uploads\/2015\/08\/Kate-Gaskin-768x883-720-261x300.jpg\")
1. Be prepared to work very hard.<\/strong><\/p>\n