Advice for First-Time Business Owners

Top tips for people setting up their own business for the first time

If you’re thinking of setting up your own business for the first time, congratulations on allowing yourself the freedom to think of doing something new and exciting!

We know just how daunting it can be to think about turning your hobby into a serious, profitable business: we’ve been there ourselves and so have thousands of our Soakies. This is why we’re sharing our customers’ best pieces of advice for those considering setting up a business for the first time. 

Keep reading to learn from people who made those mistakes so that you don’t have to…

Financial Advice:

• It’s not going to make you a millionaire overnight – but it’s rewarding in so many other ways.
• Don’t overbuy stock.
• Expect at least 2 years of low income.

Business Growth Advice: 

• Promote your business everywhere you possibly can and make your business known! Don’t feel disheartened if, to begin with, you don’t make many or any sales, it will all come at the right moment.
• Read up on legislation, set a budget, make a list of essentials, think of something unique about your business, and practice! Learn your craft.
• Don’t be scared to speak up in support groups, most people will have your back and help where they can!

Personal Advice:

• Take your time, and allow yourself to grow with your business. You will learn so much along the way, be patient with the process and your business will flourish.
• Don’t put too much pressure on yourself it takes time to build up a customer base.
• Research, do trial-making until you’re happy, try your own products and ENJOY.