6 great tips for new businesses

Antonia-chitty-headshot Antonia Chitty is a familiar name to many in the mum blogging world as well as to entrepreneurs as well. She’s written a score of books giving down-to-earth business advice for people. On Wednesday Chitty spoke at a lunch organised by Southeast London Mumpreneurs Network, dishing out tips to help budding business owners. Chitty’s also one of the organisers of The Business Mums Conference 2010, a conference for entrepreneurs on Tuesday October 5.

In case you can’t nab one of the few tickets left, here are 6 great tidbits:

1. Look at one thing that makes your heart sink about running your business and outsource it. You don’t have to do everything yourself and it can actually hold your business back. If you can’t stand doing the accounts or writing press releases, get an accountant or a PR expert. Even if you don’t have money to spend on it, sometimes you can work out a trade, bartering your skills or time in exchange for the service.

2. Tune in to your productive and creative periods. Pay attention to the time of day and the tasks that get you in “flow” (working effortlessly). Maximize the amount of time you spend doing these activities.

3. Be clear about your business goals. Is it about where you want to be in 5 years? How you want to structure your weeks or your year? The plan could be a schedule or even a vision board (like a mood board). The important thing is to include the steps and in-between goals. Want to have published 5 books and be a social networking consultant? Set a deadline for writing a book draft and boning up on social networking every week.

4. Don’t forget about your financial goals. If you’re already running your own business, work out how much you’re paying yourself per hour. You don’t want to put in loads of time for little return. Remember the 80/20 rule: 80 per cent of your money will likely come from 20 per cent of your clients. Look where the money is coming from. Find out who’s referring paying business to you and cultivate those sources.

5. Think about your business model. You don’t want a model that depends directly on the hours you put in. If it doesn, you’ve created a job, not a business. Instead “productise”

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About Jennifer Howze

Jennifer Howze is the Creative Director and co-founder of BritMums. She blogs about family travel at Jenography.net, tweets at @JHowze and Instagrams at @JHowze. Previously, she wrote the Alpha Mummy blog at The Times and as a journalist has contributed to The Times, The Guardian, The Independent, The Wall Street Journal, Travel & Leisure, Budget Travel, CNN.com, Allure, SELF and Premiere, among others. She won The Maggie Award from the Planned Parenthood Federation of America for a health article in Seventeen magazine.

2 Comments

  1. 27 September 2010 / 10:45

    Thanks for writing those up Jen!