Hello, I am Alvin and after 3 and a half years running Concrete Everything as a part time gig, I decided to go into it full time just 2 months back and haven’t turned back since. I thought it was a good idea to run through some tips for all you budding entrepreneurs out there. Read on!
Tip #1: Be your own customer
You might have set up your business, whether it’s a café, craft shop, it is always important to critic your own business, think of yourself as a potential customer, would you buy what you sell? If so, for how much? As your business develops, its natural to fine tune and adjust according to the market demand. So don’t feel too bad if you do so, you are just following the trends and customer needs.
Tip #2: Build a website
As small as Singapore is, its very difficult to get noticed. Trust me a website opens up a whole world of new opportunities. Whether it is custom requests, collaborations, business opportunities, a website places you in the internet and will bring you far.
Tip #3: Jump at opportunities
Its not often that opportunities present themselves, more often than not, they might not be according to what we do. But with these opportunities are great platforms for learning, to build your expert knowledge and to challenge yourself. Try it out! As explained in tip #1, sometimes these are new areas that your business could head into as well.
Tip #4: Start things out part-time
This really depends on how well you multi-task/how adventurous you are. For me, I had a family to support, house to pay for and I needed an income. Thus I started everything part time, thanks to an understanding boss and family, I was able to run lunch errands, weekend workshops and juggle family, work and everything in between. Of course at some point it should grow to something significant, going full time is always the end goal.
Tip #5: Weigh your risk and reward
As a final tip, this is the most important. This is the way I’ve made all my business decisions. It’s a simple way to consider things, what is the potential loss VS the potential gain? For example, if you are deciding to open a website.
Potential loss: subscription fees, domain name, time spent, maybe max $500?
Potential gain: new clients, business opportunities
It puts things in perspective, what risks you should take and what you should do, it will chart a part of success for your business.
So there you have it! 5 simple tips for your business. If you know our story and consider Concrete Everything successful, then this are 5 tips for a SUCCESSFUL business! If you know of friends/family who are on their road in building a business, share this with them!
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