Ideas to start your own business

Do your research

Be it a spaza shop, dog-walking service or a magazine, it’s essential that you understand your market when starting a new business.

‘Try to understand the kind of people you want to target. Conduct surveys, make use of the Internet, read blogs, interact with people and chat to suppliers,’ advises Beatty.

Ask yourself: Who are my customers? Where can I reach them? How much money do they earn and spend?

It starts with you

‘Remember, in your small, start-up business, you are the brand,’ Beatty says. ‘The way in which you project yourself within the first few minutes of meeting someone will affect their perception of both you and your business.’

This means you should always be well presented and polite and use positive body language. You should also be passionate and knowledgeable about your product or service. ‘You are the major driving force behind your brand and product. If you don’t believe in your product or service, no one else will.’

Be seen when it matters

We have all heard the saying, ‘The three most important factors in starting a new business are location, location and location.’ This applies to your physical premises and your marketing. It’s essential to advertise in places that are relevant to your customer. For example, if you’re starting a dog-walking service, advertise in a local community newspaper or with flyers or posters.

Need a loan?

Sometimes a new venture means you need some cash to kick things off. That’s where a small loan could be handy. You can now apply for a Capfin loan at any Ackermans store. Find out more on our financial services page.

*This is part one of a two-part blog series. Read part two.

Image: Freepik