Entrepreneurship: A Beginner’s Guide

Have you ever dreamed of starting your own business, but the thought of it feels like a daunting journey into uncharted territory? Don’t worry, you’re not alone. We see clients all the time with the exact same feelings – and luckily for you we have all the info and support you need to take that dream and turn it into a plan!

First things first, starting a business isn’t easy, and in fact it can be downright challenging.. There are long hours, you may not make much money to start (see our blog on how much to pay yourself for info on this!) and the buck stops with you – that can be a tough one to navigate if self employment is totally new to you.

The good news is that if you build a business based on something that you love and feel passionate about, all those sacrifices can feel more and keep you motivated

We’ve pulled together a few headline things for you to think about if you are considering starting on the path to self-employment:

  • Inspiration: It all begins with a spark – Do you have an idea that excites and motivates you?  This idea could be a product, a service, or even a unique solution to a problem you’ve identified. This is what will motivate you to keep going and growing – even in the hard times.
  • Market Research: Once you have an idea, it’s crucial to research your target market. Who are your potential customers, and what are their needs? Understanding your market helps you tailor your offering to meet their demands effectively.
  • Business Plan: Think of your business plan as the roadmap for your entrepreneurial journey. It outlines your goals, strategies, financial projections, and how you intend to operate and grow your business. We can help you with this, book in with one of our highly skilled business mentors who can help you with this!
  • Legal Considerations: Registering your business, obtaining necessary permits, and understanding tax and legal requirements are essential steps to ensure your business operates within the bounds of the law. We have a blog about this and a legal toolkit!
  • Funding: Finding the right funding to support your business can be challenging. Whether it’s through personal savings, loans, grants, or investors, explore the various options available. The British Business BAnk is one organization that we highly recommend, fid out more about them here.

So maybe you’ve thought through all of those things but you still have some worries. Here are some of the most common things that we encounter with our clients and importantly how to overcome them:

  • Fear of the Unknown: Doubts and uncertainties are part of the process. Embrace them as opportunities for growth and learning.
  • Balancing Act: The role of an entrepreneur often encompasses multiple responsibilities. Effective time management and prioritization are key, keep on top of all the small things regularly and make sure that you ALWAYS schedule down time. It’s about being organized but also being balanced.
  • Marketing and Visibility: Getting your brand noticed requires a well-thought-out marketing strategy. Learning the ropes of online and offline promotion is vital. We can help with this! We have blogs all about marketing and branding, you can read them here and here

Navigating the world of entrepreneurship is more manageable with guidance and support and that’s just what Tree Shepherd is here to do.

It all begins with that first step, and Tree Shepherd  is here to help you take it confidently.

Explore our upcoming workshops or connect with our business mentors today. You have everything to gain!