The creator economy has made a large contribution to a new wave of young entrepreneurs.
Access to free tools made it possible for those who have greater aspirations and start thinking about career pivots or quit a 9-5 to pursue other avenues at a low cost.
But starting a business, in any form, is hard and can be scary at times. That’s often mixed with discouraging events, and if it’s not going your way, you might think about quitting.
But instead, just take a small break, and sometimes going backwards is moving forward.
This blog post will provide you with some inspiration to put you back on track.
The tips below are for people who are just starting and might feel overwhelmed with the process.
I am also going with the assumption that you figured out a brand name or business name. Here’s what you should consider first:
- Secure all social media handles
- Spend enough time on your branding & logo
- Learn how to keep it simple
- Create a simple financial plan
- Find a mentor or coach
- Surround yourself with great people who are better than you
- Prepare yourself for setbacks
- Learn how to work without distractions
Secure All Social Media Handles
No matter what industry or vertical you’re in, securing all your social media handles is a must. It’s not going to matter if you’re going to use them.
But you want to have them just in case someone else plans to snatch them or possibly “holds your brand name hostage”.
Most businesses start with one or two social media platforms, but once they move out of the growth phase, they often want to expand their reach through other channels.
In case your desired handle or username is already taken, you could opt for a variation such as @getbranda or @brandhq.
Spend Enough Time On Your Branding & Logo
Branding, colors, and logo are essential. Too many are undervaluing the strength of brand equity and how often colors can resonate with an audience.
Companies do refresh their logos maybe once per decade, but whatever you come up with today, make sure you stand 100% behind it.
The best way to determine your brand identity is to note down the purpose of your business, the vision, and then determine your target audience.
For example, if you’re an AI-driven business, then vibrant colors are more likely to resonate with an audience than monotone blue and black.
Once you gather your thoughts about your branding, hire a great designer and give them your notes.
They can assist you with:
- Creating a brand book
- A mood board
- Unique logo designs that aren’t AI-generated
I wouldn’t compromise on branding and logo design.
They’re a reflection of your identity, and if they’re unique enough, potential clients or visitors can associate your logo with your business.
Learn How To Keep It Simple
Keep your process and productivity stack to a minimum. I’ve seen people falling down a rabbit hole, making their “process” and “productivity” utterly complicated when they haven’t even figured out their business framework yet.
I’ve met founders who ran million-dollar businesses with nothing more than Google Docs & Google Sheets to manage their entire administrative backends.
The simpler your approach, the more you can concentrate on launching and building your business.
Create A Simple Financial Plan
This can be as simple as 3 lines in a Google Sheets document, or your entire yearly expenses mapped out to the letter.
What matters is that you start tracking all your personal expenses and business expenses from the start.
Map out some of the possible scenarios from worst to best, and start implementing a budget plan.
Doing this early on can prevent you from getting into a mess later on.
- Document how much runway you currently have (savings to cover rent, food, utilities)
- Audit your monthly subscriptions, and eliminate what’s not needed
- Set a budget aside for your subscriptions that can cover an entire year, so you avoid interruptions or stressful situations
- Think about a marketing budget, or possible labor costs when outsourcing work
- Add a cushion of runway for unforeseen circumstances (hardware fails, additional costs, etc.)
You want to prepare yourself, and a simple financial plan will contribute to that.
Because it can provide you with a much better idea of where your weak points are and how not to overspend.
Find A Mentor Or Business Coach
Sometimes, a few hours of 1:1 coaching each month is worth the money to fast-track your personal growth and operating or launching a business.
When you’re in a stage where too many hats need to be worn, it’s harder to stay on track.
A mentor or business coach can often help you with:
- Improving your ability to make better decisions
- Mental game of entrepreneurship
- Introduce you to networks or people who are currently out of reach for you
- Management & leadership skills
If you plan on hiring a mentor or coach, try to get one through referrals. If it’s out of your budget, you can try async coaching, which is usually cheaper instead of 1:1 calls.
Surround Yourself With People Better Than You
There’s nothing wrong with talking or networking with like-minded people or aspiring entrepreneurs who are at the same level as you.
But there’s a cap on the knowledge or feedback you will acquire. Simply because they don’t have the experience or have too strong of a startup mindset.
Try to surround yourself with others who have more experience than you. But have boundaries.
When they are willing to engage with you or kind enough to respond, be aware that they lead busy lives.
- Read also: How To Cold Email For A Coffee Chat
On many occasions, I asked people to put a stop to their constant asking for free help and questions about situations.
The moment I referred them to my coaching sessions for structured advice, they stopped responding or asking me anything.
Don’t be that person.
- Build your network slowly
- Respect their time & take it as a win if they respond
- If you have a question, think hard about how to ask for specific advice
- Know the boundaries and appreciate that they’re already willing to respond
Prepare Yourself For Setbacks
Nothing goes in a straight line, and every business faces hardship or temporary pivots.
Building any kind of business requires dedication, which often leads to sacrifices, trade-offs offs and setbacks.
When you invest time and money in your business, the emotional toll of running a startup is inevitable.
Having a strong mental game will be required when hardship comes around.
- Learn how to be resilient
- Expect that competitors might surpass you
- Expect that jealousy or envy can lead to sabotaging your business
- Develop a thick skin when others try to criticize you
Learn How To Work Without Distractions
If you truly want to make it work, plan accordingly and stay focused. Shut yourself out from distractions that could disrupt your workflow.
It’s better to work 2 hours per day with extreme focus than 8 hours dabbling around.
One of the reasons why I don’t respond to or never take unplanned meetings is that if you’re heading back to your deep work, it can take up to 30 minutes before gaining focus again.
You could try the following:
- Leave your phone in another room
- Remove all social media apps from your phone or tablet
- Set time blocks for when to respond or check emails
- Work with a simple reminder & task list every day
Close
Starting a business can be overwhelming, and it requires focus, discipline, and a lot of temporary adjustments.
The majority of startups fail because they can’t seem to nail the basics.
Plan, split your heavier tasks into microsprints, and do one thing at a time. Working slower now can help you work faster in the future.
Your early-stage growth is also a discovery phase. You’ll find out what you like and don’t like, or where you struggle to execute.
Some people just go faster because they have mastered different skills than you.
If you need assistance, hire a mentor or business coach who can accelerate that learning curve.
Don’t procrastinate, and instead of watching another episode of your favorite TV show, dedicate it to your business.
Those efforts will compound, even when it feels in the beginning you’re not moving at all, just yet.