3 Tips For New Business Owners

3 Tips For New Business Owners

If you're starting a brand new business, it can be overwhelming. You're probably wondering what you should be doing first or maybe what you shouldn't do, where you should spend your money. There are a lot of questions going through your mind. I'm going to give you three tips that'll just help you really drive towards a successful point with your new business.


*** This is a transcription from a video  ***


My first tip is to act like a new business. I see people start new business and they set up flash offices, buy new cars, new computers; they really go overboard on expenditures. Really, the more money you have in reserve, the better. Because you just don't know what's going to happen. You don't know what's going to work yet. Your marketing's not proven, your sales techniques aren't proven. You haven't proven the concept yet. So until you're at a point where you're predictably bringing in cash flow from your sales, act like a start-up, act like a small business. Don't act like the big boys. Don't worry about what your competitors are doing. Don't worry what the guys down the road are driving. Just act like a new business, and you'll be better off.


My second tip is stay focused. Really stay focused on what is going to bring in the cash. Don't do the things that aren't going to bring in sales. Don't worry right now if your office is a bit shabby. If painting it's not going to bring in more sales, don't paint it. Focus on marketing. Focus on sales techniques. Delivery is important of course, you have got to keep your customers happy. But I see far too much emphasis put on delivery. There's a famous saying that I love: 'The best mouse trap does not always sell the most.' You can probably think of a hamburger shop that sells a lot of hamburgers, but they don't make the best one. I won't say which one, but I'm sure you've been there. So it's not about having the best product, it's about having the best sales and marketing. Of course customer service is important, but right now, focus on what's going to bring in the sales.


Now my third tip is to delegate or outsource tasks. Now a saying that I love, it's one of my mantras now: 'Do what you do best, and outsource the rest.' Don't feel like you've got to do everything. Don't be the Photoshop guru. Don't be the cleaner. Don't be the mail house person. Don't run to the bank. Hire casual staff whether it's online and you can outsource overseas or it's local, it doesn't matter. But get yourself some support. Now whilst that may be a small investment, it frees you up to do the things that are going to make your money, that's a much better use of your time. So you don't get to the end of your week and go, 'Where did all the time go?' when you could just focus on activities that bring sales in the door. And hire people on a casual basis to do the things that aren't as important but still need to be done.


So there you go. Those are my top three tips if you're just starting out in a new business. If you've got any tips or any questions that I haven't answered in this video, I'd love to hear from you. Post them in the comments. Hit 'Subscribe' as well so you don't miss out on any future videos. Until next time, have a profitable day.


About the Author


Ben Fewtrell is a sought-after Business Coach, Keynote Speaker and trainer who has featured in Virgin’s Inflight Magazine and Entertainment Portal, SKY Business and “Secrets of Top Business Builders Exposed”. He is also the host of the popular Business Brain Food Podcast where he interviews leading experts on anything and everything business.

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Leave a Reply

Your email address will not be published. Required fields are marked *

business plan template

Get Instant Access to the Business Plan Template that has helped thousands of Business Owners in every sector plan and grow their business.

Learn More
fees and benefits

Our Programs start from as little as $10 a day making it affordable for all business types.

Learn More

Top Rated Articles

The History of Business Coaching

The Inner Series...   In order to understand the history of business coaching, it’s important to go back to t


How your company can adapt to the Digital Revolution

Over the last couple of years, technological innovation has brought about a rapid change in the customer service landsca


7 Biggest Challenges Facing Your Business

It is kind of inevitable that businesses will face challenges at different stages of their growth and development. So, p


Recently Viewed

How to Overcome the Most Common Barriers to Listening Effectively in the Workplace

When it comes to communication, listening actively is a very vital aspect. In the fast-paced world we live in, most peop


How I changed my Facebook Business Page Name

I started a Facebook page for my business many years ago. I had spent thousands of dollars running ad campaigns and gain


How to Start the Lifestyle Business You've Always Dreamed Of

liOne of the toughest parts of starting your own business is figuring out what kind of company you want to run. There ar

  • Over the past 6 months the incredible team at MMP have supported us to shift our attitude towards our business & month on month our revenue is increasing to the point we will be able to employ additional staff to support our business goals long into the future. Do not regret our decision one single bit!

    • Emma Reece

  • Working with my coach has enabled me to see the areas where my business is failing. This was pretty confronting to me to be honest. MMP has the tools to improve these areas and the guidance on how to implement them.

    • Sharon Robinson

  • I have been working with Max My Profit for approx 3 years now, and over that time I have learnt a lot of things about not only what it takes to run a business, but I have also learnt things about myself. I don't believe i'd be the person or have the business I have today if it wasn't for Max My Profit and our Business Excelerator. Great team to work with if you want to take your business serious!

    • Ben Choy

  • As a new client for Max My Profit (MMP) it has taken no time at all to realise the benefits of business coaching. Despite many years of senior management experience starting a new business requires best practice systems and processes built on a solid platform of detailed planning. I look forward to the benefits of adopting the formula being shared by MMP.

    • Campbell MacLeod

  • Max My Profit Are truly awesome at what they do. They have helped me over the past 12 months to get off the tools in my business and start working on my business. I am looking forward to 2019 with enthusiasm not concern. Thanks so much.

    • Aaron Kemp

  • If you are committed to Growth the Max My Profit Team has the tools and expertise to excelerate all areas of your life. They Care, They Listen, They Understand You as an Individual first then they focus on Your business. Thank you Max My Profit my rating is a 6/5 - Kindest Regards The Mr Handyfix Team

    • Catherine Kavadas

  • The team at Max My Profit are an absolute pleasure to deal with. I love working with a team who is on top of what they are doing and have a clear view of what they are working on with you and helping ensure you get to the end goal.

    • Lauren Watts

  • I have been working with MaxMyProfit over the years and what they do for SME's in growing their business is fantastic. Also due to there knowledge and their supporting material for companies across the 5 lifestyle stages and assisting them through this process day in day out is extremely comforting as a small business owner and have referred them many businesses over the years.

    • Steve Laingy

  • Working with a business coach from MaxMyProfit has been one of the best things I have done for my business. I had several other coaches before MaxMyProfit but these guys are a step above the others. I have seen a significant increase in sales, now have a business that can run itself and the coaching program has paid for itself many times over.

    • Matthew Kitchin

  • Much more than just business coaches. There is an absolute treasure chest of business knowledge in their members site.

    • Iain Campbell

  • Max My Profit are unique as they really partner with you to develop and implement a plan that will drive success for the business. I was hesitant to proceed as previous business coaches tell you what to do and rely on you to implement.

    • Michael de Haan

  • I attended one of Max My Profits introductory events in Melbourne. Having been an accountant for almost 30 years, I was somewhat sceptical. Boy was I wrong. I not only enjoyed the presentation, but I gleaned so much from just that session.

    • Daniel Odd

  • These guys are an absolute wealth of knowledge for Small Business. The programme and support networks they have set up ensure learn more every day and can take your business from good to great. Thanks so much.

    • John Butler