The 4 Steps To Future Proof Your Business…

Step 1 – Funding To Access

One of the most often asked questions by people wanting to start a business is “how do I go about funding it?”.

Depending on your circumstances, bootstrapping, reaching out to family & friends, banks and non-banks, grants, incubators, crowd funding, angel investors, venture capitalists and investment bankers could all be options. However, you will also need to create a pitch!

Step 2 – Administration To Be Commercial

Your business must be commercial from day one. This ensures not only risk is minimised, but also ensuring that the correct processes, procedures, and practices are in place to help you scale and grow.

To do this, you need to consider things like legal structures, banking, accounting, intellectual property, risk & compliance, security, talent, governance, ethics, and even social responsibility.

Step 3 – Strategic To Get Leverage

One of the biggest changes in managing a business today is the importance of creating an ecosystem where you form partnerships.

These may be formal and long term or less formal and established only for a discreet period like for a project. Some of these “partnerships” may include suppliers, leads, prospects, clients, industry expert authorities, associations, promotional partners, affiliate marketer, joint ventures & investors, complimentary competitors, supplementary competitors, and influencers.

Step 4 – Think Tanks To Keep Growing

Developing and maintaining an entrepreneurial mindset for the New Economy, is key to ensure you are successful in your business, as disruption and new ways of doing things is the norm.

To help you do this you need to look at how to re wire, disrupt, engage, through events, network, coach, mentor, or advisory councils.