Tag Archives: mentor

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young professional, young entrepreneur,

5 Killer Tips Young Entrepreneurs Need To Know

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Has it crossed the minds of the young people  in your life to set up a business?

There’s always a lot of pressure on the younger generation. Young people are unemployed. Young people find it harder to get on the property ladder. Young people are rude. Young people are lazy. At times that seems like the general consensus on the news and in the media but, according to The Guardian, UHY Hacker Young found there were 26,420 companies with a director aged 21 or under in the UK in 2015.

We’re in the business of helping businesses grow- that means enterprises that are in their infancy or long established, led by entrepreneurs young and old. With that in mind we’ve put together five killer tips young entrepreneurs should have in their arsenal if they’re considering launching a start-up- after all we’re depending on them to pick up the entrepreneurial mantle and carry on innovating, (no pressure!).

 

#1 Lasting Passion 

This tip isn’t just limited to young budding business men and women but all entrepreneurs. For your business to be successful you’re going to be pouring a lot of effort, energy and hours into it and making sacrifices, such as when it comes to your social life. If you set out to just make money, or launch a business just to say you have or just to be your own boss, eventually you’ll end up resenting and regretting it, especially as most successful entrepreneurs live and breathe their business.

Be passionate about your business idea from the word go. Make sure your business notion is one that you look forward to working on when you wake up, that brings a smile to your face not a groan. Ensure it’s a passion that will withstand the test of time. Have a zest for your idea, confidence in it and you stand a chance at success.

 

mentor, business, support

Valuable Insight: Your mentor can help you steer clear of business mistakes.

 

#2 Maximize Your Mentor

Owner and CEO of PilmerPR, John Pilmer recommends finding a mentor on Entrepreneur and we couldn’t agree more! Your tech and social media knowledge might be great, you might be even greater, and your idea might be the greatest but what you can’t possibly have as a young person is experience. Experience is a valuable thing. It teaches us how to avoid making mistakes, especially the same ones we have made before, and avoids wasting our time and taking unnecessary risks.

So why not find a trustworthy and knowledgeable mentor who’s been around the business block a few times? Glean all insight you can from their experiences, shadow them at work, observe, keep in regular contact with them, and take their advice on board. Having more than one mentor isn’t greedy either as we’ve all had different experience and picked up different tips along the way.

Who knows maybe your mentor’s business advice could save you from business suicide…

 

#3 Do Your Homework… And Then Some

Everyone knows starting a business involves some element of risk so why not take the riskiness out of risks? Our blog post ‘Are You A Riskaphobe?’ reveals how to turn a potentially dangerous chance into a ‘careful risk’ (and no it’s not a paradox!) but the crux of it is: never underestimate the value of doing extensive research.

Research the industry you’re going into, find out if there’s room in the market for your product, familiarise yourself with the competition and get to know your target customer inside out. That way you’ll be prepared for anything, give a great first impression to investors and people you sell your business idea to.

Startups cite the British Library’s Business and IP Centre in London for unlimited access to an abundance of market research and all for free!  They have centres  through the central libraries in Birmingham, Leeds, Liverpool, Manchester, Newcastle and Sheffield if you’re not located near the capital.

 

#4 Have A Plan A…And Plan B

You’ve heard the saying “failure to prepare is  preparing to fail” right? Having a solid business plan can help you feel confident with the knowledge that you’ll be prepared for all eventualities and have a back-up. It can also prevent you from over estimating your budget and limits, whilst setting out bite-sized steps for you to follow to bring your business to life.

The Prince’s Trust offers some great business plans to help you get started…you can even ask your mentor for a hand!

 

business plan, business idea, success

Route to success: A business plan can keep you in check and make growing your business less daunting.

 

#5 Face-to-face is the way Forward.

Though social media is a powerful tool and a nifty way of reaching a lot of people to spread the word about your business for next to no cost, don’t underestimate the value of face-to-face networking. One day having that personal touch and taking the time and effort to follow up with prospective could help them travel that last part of their customer journey to signing up to your company’s services.

Building relationships with like-minded people can also mean you have support when you experience set-backs and people to celebrate with as your business grows.

If you’re based near us in Huddersfield, West Yorkshire, there’s a great networking event held on the last Friday of every month called Young Professional Fridays– why not pop along?

For more advise on how to succeed in business contact us on 01484 401737 today or email support@thebusinesshub.uk.com. 


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business coaching, coaching, business transformation

To Have A Coach Or Not To Have A Coach?

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Did you know feeling like you might need to turn to a business coach doesn’t mean you’ve failed? Did you also know a good business coach isn’t going to tell you some wishy-washy, mumbo-jumbo that you’ve heard before, while draining your money, time and resources as they do so?

There are a lot of myths and rumours surrounding the often very misunderstood profession of business coaching. As spring is upon us and sales and business coaching is one of the core services that we offer here at The Business Hub, we thought we’d get our feather duster out and, instead of blowing away all the coaching myth cob webs, we thought we’d blow you away with the wow-factor of what a business coach could offer you and your business.

 

coaching, business, business growth, business coaching

Spring clean: Instead of blowing away or the myths you may have about business coaching, we thought we’d blow you away with what a coach could offer  your business.

 

  • Support- So you’ve made it to the top but lately you’ve lost your mojo and aren’t bringing in any new clients or generating fresh ideas. Perhaps your business is just ticking over, just being and not amazing you or your clients and you know it could be more? No matter what size or type of business you run, it can be stressful; you can get lost in the black hole of managing and admin, tangled in the web of office politics. With there being well over 7 billion people in the world, we definitely believe we are meant to guide and help one another out. A business coach can be that de-stressing, impartial listening ear you need as a business owner.

 

  • Focus- How many times do we get distracted from our real business goals and then feel awful about ourselves when we don’t reach them? Negative thinking, the type fuelled by thinking we’re a failure, often acts as a self-fulfilling prophecy spawning actual failure. Good business coaches are positive professionals that take on your business goals as they’re own. They want you to achieve your vision as much as you do, so keep you on track and deter you from wasteful and superficial distractions.

 

  • Clarity- Picture this: you’ve been toiling at what was once your business dream and passion for a good few years and have suffered so many setbacks, changes, curve balls, and losses that you no longer remember what you wanted for your business in the long term, let alone have goals you get distracted from achieving. Sound familiar? A business coach isn’t embedded firmly in your business so won’t get distracted in the same way you might do. They can provide a powerful crystal-clear clarity on your valuable business vision, something which they can routinely remind you of.

 

business transformation, coaching, business coaching

Listening ear: A business coach can be a mentor, educator, motivator or simply a supportive friend.

 

  • Wisdom- Coaches are often successful entrepreneurs themselves, with a wealth of experience to draw upon. Far from giving you business envy, coaches can provide you with valuable insight and important nuggets of knowledge, which could enhance your business. They may not know everything, but a business coach is unlikely not to have encountered a business issue before either personally or indirectly though one of their other clients.

 

  • Colour- Your own head can be a lonely place sometimes. When you’re struggling for ideas or just stuck in a rut, the saying ‘two minds are better than one’ often springs to mind. A business coach can be the perfect person to bounce exciting new ideas off, debate decisions with, inspire you and motivate you. They can challenge you, change your mentality and mind-set for the better, nudge you out of your comfort zone to take a risk if you’re too cautious or reign you in if you’re too bold. They provide a fresh perspective and help you think outside the box.

 

So whether you just need an impartial professional friend to rant to, an experienced mentor who won’t judge you and whom you can learn from or a motivator to help give you and your business a boost, you’ll be amazed what a great business coach could do for your business.


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