The Ins and Outs of Running a Startup Business
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The word ‘entrepreneur’ is so ubiquitous these days that it’s hard to get away from the notion that running a company is easy. After all, reality TV stars are regularly referred to as ‘business figures’ and some even release books full of tips and advice. It’s one of the reasons why contemporary start-up ventures have such a high rate of failure.
While there’s nothing wrong with being creative or ambitious, the trend for entrepreneurship can end up glossing over the unsavoury parts of the story. Hard work may not be glamorous, but it’s the key to success in business. Big ideas can only take you so far. You’ve got to have the drive, determination, and passion to believe in them even when times are tough.
This guide to the lessons involved with starting a business will help you decide if it’s the right move for you.
There’s More Than One Way Forward
When it comes to moving up and out into the world, know that there are a wealth of options. You can check out www.servcorp.com.my/en/serviced-offices/ to learn about just one of them. Serviced offices are a cost effective solution for companies that aren’t suited to flexible coworking or virtual environments.
They provide entirely private office space, as is conventional, but the overheads are much more manageable. This is because all logistical expenses (heating, lighting, cleaning, broadband, etc.) get rolled into the monthly rental fee. You don’t pay any maintenance charges, and the suite is cared for by a team of on site helpers.
You Don’t Have To Be Certain
One of the biggest misconceptions, particularly for contemporary businesses, is that there’s no room for mistakes. This isn’t really true, but you have to build a robust safety net. In the early days, for instance, you’ll be asked to make a lot of decisions which will affect your company for years to come.
However, there are ways to subvert many of these so called certainties and choose without locking yourself in. Serviced, virtual, and coworking spaces are a good example, as they offer stable office rentals, without rigid contracts. If you work with one of the serviced providers in central Malaysia, you’ll never be penalised or prevented from ending a lease early.
Acquiring Isn’t Equivalent to Spending
There’s no getting around the fact that you need money to start a business. Some cash is necessary for administrative dues, rent payments, and equipment that you can’t get through your office provider. However, the bare minimum required is probably smaller than you think.
As with your choice or rental, there’s more than one way to acquire key assets and resources. If you work through a serviced vendor, you can add many different tools, software solutions, and devices to your rental package. You don’t have to buy them outright from day one.
You Define Performance
This is a lesson which businesses are only just beginning to wake up to and much older, more established companies tend to be the most sluggish. Therefore, you have an opportunity to get ahead of the big players. Don’t be afraid to embrace remote routines and distance workers.
It’s a mistake to confuse physical presence with performance. Results are your indicator of progress, not attendance. So, if employees can be trusted to work from home, it might be a good idea to give them a bit of freedom. It increases productivity, focus, and motivation.
Knowing What to Expect from Your First Business
There’s no magic formula for creating a business. Every launch is, essentially, a leap of faith and a step into the unknown, but that’s what makes it so exciting. The important thing is to remember that success requires commitment.
There will be plenty of triumphs, but there will be moments of trouble and strife too because making it big is tough. The good news is that, with the right support systems around you and a great home base, you’ll have everything you need to turn your dreams into sales.
