Starting a small business is becoming an increasingly popular ideal for many people across a variety of industries. The idea of being your own boss, working from home, creating more flexible working hours and running things the way you choose is very appealing, and after honing your skills and deciding to commit to your dream, starting your own business can be rewarding and extremely self-satisfying.

But, it is often difficult to take the big, scary, unsure step from your secure job to making it on your own!

So, how do you know if you’re ready to take this step, and whether your idea will be viable? Many people don’t fulfill their ambitions or their potential simply because they don’t know where to start. So here’s our guide to self-assessment and some pointers on getting started…

1. Put your idea down on paper! Sounds simple doesn’t it?! By writing your idea down you are making it more concrete, sort of like making a contract with yourself. Put the idea on display, maybe on the fridge, as a daily reminder of your commitment to building a successful small business from your idea, talent or passion.
2. Plan, plan, plan. Going in without a plan of attack is setting yourself up to fail! Develop your idea and define your goals so that you can reward small successes and track your progress.
3. Do your research. The key is knowing where you will sit in the market, and in order to do this you need to scope out your competition, be up to date on industry trends and news, and define what makes you different and better.
4. Be realistic! How much time can you really spend on your new venture while you’re working in your current job? Also, how quickly will you be able to replace your current salary?
5. Be ethical. If you are already working in the industry you want to start your business in, think about how you will handle branching out. Remember that the clients and customers you had when you worked for someone else belong to that someone else! Poaching clients will only end in a tattered reputation and possibly law suits!
6. Set up a budget. So many small businesses fail in their first year of operation due to poor financial planning. Know your budget and stick to it - there are loads of ways to promote your business on a cost effective platform. And before you commit to marketing plans, know they are the right ones for your business.
7. Don’t be afraid to make a mistake. Sometimes our fear of failure overpowers our ability to succeed. So long as you are making educated decisions, rather then emotional ones, you will learn what works and what doesn’t.
8. Be proactive. Surround yourself with positive, successful people who you can bounce ideas off and make things happen for yourself.
9. Work on your image. You know how you shower, brush your hair, carefully choose an outfit and accessorise every morning? Well your small business needs the same amount of care. Make sure that your corporate identity is strong, representative and unique and you will ensure that your business leaves the same positive impression as you do.

There’s been a huge story in my local area this week of a particularly high profile company that committed to attending (actually being the main attraction of) an annual local event. They announced this past week, only days before they were scheduled to arrive, that they will not be coming - breaking their contractual agreement! It’s quite a pickle they have themselves in as the “no-show” (as the papers are calling it) will cost the local government, sponsors, and this event millions of dollars and leave a few politicians very red faced, even a few without a job.

But how could a major international company get itself into this situation in the first place? Well there’s loads of speculation on the ins and outs of why this has happened, but the bottom line is that they over promised and under delivered (big time!).

And this doesn’t just happen to big businesses, I’m sure you’ve experienced service and product let downs as a consumer, and it leaves you feeling angry, ripped off and with a very bad taste in your mouth about the product and the brand.

So how do you make sure you don’t over promise and under deliver? Here’s our tips to keeping your clients happy…

1. Communication is key!

Communicating with your clients all the way through your working relationship is the only way to ensure you are both on the same track and headed in the same direction. To start with, give them a clear guideline of exactly what your service includes, what it won’t include and how you plan to attack the project. It’s a great idea to outline milestones where they can measure an achievement - no matter how small.

2. Be realistic

When you’re quoting timeframes and cost estimates, be realistic about how much time a job will take you. Also be upfront about your circumstances. If you have a busy month ahead with existing clients, and want to take on a new client that has approached you, be practical and honest with regards to the timeframe for completion. Most clients will understand that you are busy and if they really want to use you they will wait for you to become available.

3. Time Management

Control how much time you spend on a project. If you find you have underestimated the job scope, talk to the client, explain the differences in scope of work and cost estimates, and go from there. The earlier you approach them the easier it will be.

4. Tell the truth

If something unexpected pops up during the course of the project, don’t fabricate some far-fetched story that might seem plausible to you, because it will more then likely sound lame to a client that has invested their money and faith in you. Explain the circumstances, have a revised plan of action ready and most clients will understand any unusual, unforeseen obstacles that may arise.

The real key to delivering what you promised (and more) is to devise a plan and then execute this plan! Don’t make promises you can’t keep, because you only end up with an unsatisfied client and a bad reputation.

If you have any suggestions on how to ensure you always deliver what you promised you would, please feel free to share your thoughts, we’d love to hear them!