Tips for Starting your own Business

*This is a collaborative post

When making the jump to becoming self employed, it can feel like a bit of a minefield and many people struggle to know where to start. Having successfully built up my blog to become a second income and business to support my family, here are my hints and tips for things to bear in mind when starting your own business, whether that’s a blog, and online gift shop, or a service such as nails and beauty.

1. Think carefully about your company name – do your research. Remember that the name you pick now will be the name you are ultimately committing to for the long term. When I set up the blog back in 2013, I had no concept of what it would become, and now wish that I didn’t have the word ‘reviews’ in the title. I find it limiting and worry that people will judge my blog before they’ve really had a look at the kind of content I can produce. This blog is far more than just a review site, and hopefully my posts reflect that. It’s also important to look at what other similar business exist out there and ensure your name isn’t something that sounds the same or could cause confusion for clients and customers. Also check what comes up when you google – if the business name your considering brings up a website of an adult nature and you’re selling baby clothes, it could be one to avoid!
2. Build your social profiles – One of the questions I get asked all the time by people who want to start a blog is how to build your social media channels. The truth is –  its pretty tough these days – the dynamic of social media (particularly Facebook) is changing every day and it can be really hard to keep up with changing algorithms and needs. The best way to build an authentic and engaged audience is to share content that really matters to them. Video works well, as tends to get a higher engagement rate than static content. Initially why not ask your friends and family to share your page and follow, and then start creating content. If you are selling physical products, showing them being used or in action can really encourage likes, comments and shares. If you have customers, ask them to share some of their experiences too.
3. Build your brand – Having a recogniseable logo or brand name is really important to create awareness. Don’t forget to differentiate yourself from others doing similar things. Many bloggers have illustrated headers or representations of their family, so I went for a 1950s theme instead. It brings in a lot of positive comments and helps people remember my page. If you have physical items such as a shop storefront or car, consider vinyl decals which can help bring your brand to life and shout about your services to passers by and more passive potential customers.
4. Don’t compare – Particularly not with those who are more established and have bigger budgets. When starting out its important to remember that Rome wasn’t built in a day. Building your own business up takes time, patience and persistence are crucial, and comparison is the thief of joy. Set yourself small achievable goals for your first 12 months, and make them more challenging as your business becomes more successful.
5. Organise your finances – One thing I underestimated was just how much time blogmin’ (blog admin) takes up. Keeping your finances organised, from invoices, expenses, and if you sell a physical product, stock purchases, can take up a lot of time. Set yourself a bit of time aside each week to do it as you go along, TRUST me – there is nothing worse than approaching your tax return deadline day and having everything scattered around in a mess. If you haven’t already done so, you will need to register your self employed business with the HMRC. Don’t forget business expenses can be offset against your earnings, so you may find that your profit is minimal or not subject to tax for the first year.

All in all, going self employed is a bit of a leap of faith, but looking back I am so glad that I did. Sometimes you have to just have the courage to try!

If you have any questions about setting up a blog or online business please feel free to drop me a DM. Whilst I am by no means an expert, I am happy to share what I have learnt!

Lucy x