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The Starter’s Guide to Launching Your First Business

  • Written by News Feature Team



The prospect of launching your own business can be exciting, to say the least. Your mind is bound to be filled with a variety of ideas that can help you beat away the competition. However, before you get ahead of yourself, you must take a step back to ensure you do not make too many mistakes along the way.

Sell Products You Love


You probably have your business concept in mind already – and that’s great. However, you can often let budget take over quality products, which means you could end up selling items you do not believe in and would not buy yourself. When this happens, you can quickly lose passion for your company – which will shine through from the customer experience to the brand’s marketing campaigns.

It is, therefore, essential to only sell products you believe in 100%. Take inspiration from Auster (www.auster.com), a curated marketplace, who try and test many vapour e-liquids to provide their customers with the best products on the market – whilst celebrating the brands that have created them. They therefore only sell items they believe in wholeheartedly, and you should aim to do the same thing.

Write a Business Plan


Once you have an idea about your business and the types of products or services you would like to sell, you should write a professional business plan. This will allow you to flesh out the details of the company, financial projections and objectives, which could help you secure an investment. You will, therefore, provide information on the company, the start-up costs and where you can see the company going in the future.

Research Your Industry & Competitors

If you are going to succeed in your industry, you need to become an expert in the field. Not only will thorough research help you identify your company’s gap in the market, but it will also allow you to assess your direct and indirect competitors, industry trends and the effective business practices that are working well for your rivals.

Know Your Numbers


Every new business comes at a price, so you must have a thorough grasp on your finances if you want to avoid debt or bankruptcy. So, if you have a superb business idea but don’t have the finances to match, you could always ask the bank for a commercial loan, you could apply for a small business loan or could seek investment from a private investor.

Select the Entity


When registering a new company, you must decide what type of entity it will be – as this will determine your personal liability and how you file your taxes. For example, if you plan to run the business alone and take on all financial issues and obligations, you should register as a sole proprietorship.

However, it is also possible to separate your personal liability from your company’s liability by forming one of the many types of corporations. The business will therefore not be legally linked to the owners, so only the corporation will own the property, taxes, assume liability and enter into a contract – not the individuals.

There is no denying that starting a new business can be challenging, but the right approach can improve your chance of success.

An audience cannot engage on facts alone

  • Written by Brenda Thomson


Frazer Yendell, Director of The Public Speaking Institute knows that you are more likely to listen to someone you like than someone with all the facts. There are two ends of the spectrum when it comes to speaking success: You can transfer the relevant information to the audience (Directional Structure), or you can create rapport with the audience so that they want to take action (Engagement).

 “Many people think they want the first option which is where they go wrong,” Yendell says.  “They feel that if they can get through their list of facts in front of the audience, they’ve done their job, even if they have presented in a monotone and everyone has fallen asleep.” 

 The other end of the spectrum is when we connect with the presenter, have a fantastic time, are entertained but cannot recount anything they said at the end. As Yendell says, this is ”…great for building rapport but this style lacks the substance that you need to convey your message.” 

 Being at either end of this spectrum obtains the same result for the audience. Their ability to absorb the information that has been delivered is pretty much non-existent.

 Yendell believes that “an audience connects with the person, not with a character or information alone.  When you are able to find a balance between these two you are able to form a rapport with your audience.”  On top of this, you can balance the information that they need to understand and deliver it to them in a way that they can digest.  The key here is to have a structure that you can hang your presentation on (the direction) and then talk about those points in your natural way (engagement).

 Here are five simple steps Yendell suggests you take the next time you are speaking to an audience:

 1.    Get very clear on one key message that you want your audience to walk away with.  Make this message as specific as possible to your audience.  If you find yourself talking about something that does not support your key message directly, the STOP and get back on point.

 2.    Prepare your talk by breaking it into dot points.  Write these clearly, in large type, and structure the points to prompt you with the opening sentence.  This will give you momentum and the freedom to talk in your own words and natural style.

 3.    Pause.  Silence is powerful. You don’t have to fill every second of your presentation with sound.  Stopping allows your audience to take in what you have said, means you can compose the next thing you are going to say and creates natural breaks in your presentation.

 4.    No-one gets it all right all of the time.  Give yourself permission to learn and improve.  Most of the time we let the audience in on our mistakes when we don’t have to.  You will be forgiven for an imperfect presentation if you add value to them.

 5.    Embrace the moment and create a conversation with your audience.  You have the knowledge, that is why you were asked to speak.  Allow the audience to explore the areas they want to understand.

 Yendell says that “when you apply a simple structure to your information and then allow your personality to shine, your presentation will have the perfect blend to maximise effectiveness.”

 For more information about public speaking, or to find out more about Frazer Yendell, founder of The Public Speaking Institute and coach, go to www.frazeryendell.com or The Public Speaking Institute

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