Thinking of starting a business?

We know it can be a challenge figuring out what is best to do when it comes to starting up your first business. The majority of our clients start off as small businesses and grow over time. We’ve had an influx of start ups ready to take the leap so this blog post is for anyone who isn’t quite sure where to start. We have put together 10 of our best tips for starting up a business.

1. What Makes You Different From Your Competitors?

So you’ve got an idea for a business but it’s nothing new…well the fact is, it doesn’t have to be! It’s hard to think of a completely innovative idea. There are a lot of people doing the same old thing but to be successful you need to understand how and what makes you different from your competitors, and why this makes you superior. Maybe your service is highly personalised, or maybe it’s your company’s philanthropy and culture that sets you apart.  Whatever it is, own it and make sure your customers know about it! It could be the difference between choosing them or you!

2. Be The Solution

If you are entering a market which is already pretty saturated, think about a specific problem you encounter which other people might also encounter. Doing this can help you to identify your target audience’s challenge and address it head on. There’s no point jumping in at the deep end and then having to wait for someone else to cash in on fixing the problem. Let that person be you.

3. Understand Your Market

Focus group

By understanding who your clientele are you can better position yourself within the market. Market research is very important. Who is going to use your product and why? Some points to consider might be the lifestyle habits of your customers, their age and purchasing power. Think about how all of these factors translate in your products or service.

Once you have established your target market conduct your own research. It’s all very well pulling facts and figures about similar products from the internet, but make sure you test the waters with your own, focus groups. This will give valuable insight into how people will react to your product, what works really well and could be better.

4. Knowledge Is Power

The phrase ‘no one likes a know it all’ does not apply here! There’s no point going to a business blind-sighted. Make sure you have thoroughly done your research as it can help to identify and minimise risks, identify your competitors and find your place in your sector.

5. Find A Mentor

Don’t be afraid to reach out to others in your field who have been successful. We wouldn’t recommend choosing a direct competitor, but by contacting business leaders in the same industry you might gain valuable insight into your market. You can also learn from their mistakes so you don’t have to make them! If you’re not the type of person to reach out yourself, have a look online for future industry events; that way you can be sure that everyone attending is looking to network and you can build relationships without feeling like you are stepping on someone’s toes.

6. Learn From Your Mistakes

Make all the mistakes you can while starting out. When you’re just starting out come to terms with the fact that some things won’t turn out the way you plan. Suffering a setback can be disheartening but remember that perseverance is key. When something goes wrong turn the experience into a positive one! By focusing on WHY something went wrong you can learn HOW to make sure it doesn’t happen again. 

7. There’s Always Room To Grow – Focus

Thinking about the next move

Don’t spread yourself too thin as it could result in making silly mistakes you’ll later kick yourself for. At the beginning of your business venture it’s best to stay focused on one or two things you are really good at. Having too much on your plate can become overwhelming. So once you’ve got these elements down there’s always time to branch out.

8. Work On Your Digital Presence

This is the digital age! Your company’s online visibility will be an important part of your success. Social media platforms like Facebook and Instagram will be valuable in gaining a loyal customer base. Thinking of weekly media content might be difficult in the moment. One way to get around this would be to plan a time each month where you schedule things for the month ahead. Also, think about how to increase your following and page’s traffic. For example running a promotion where a participant enters a prize draw by following your business account, liking and sharing your photo. The reward might be that one participant wins something.

9. Know Your Costs

Be sure to budget and keep tabs on your spending. If you have a set amount which you can afford to spend, try to come in under budget so you have room to make some mistakes. Understand that sometimes it doesn’t pay off to go with the cheapest option. Your brands reputation is important and while you can probably get away with cutting some corners others you definitely can’t, so invest in yourself.

10.Be Consistent

Develop a theme for your brand and be consistent, perception is everything. Choose a colour scheme, logo and visuals which are both professional and representative of your brands identity. All of these elements are integral to the authenticity of your brand which is valuable in gaining trust of prospective customers.

Worlds End Studios is home to over 120 small businesses, contact us today on 020 7349 7001 or by emailing to let us know how we can help you get started.

New to Working From Home? So are we!

Whether you already had a head-start, or perhaps you have only just begun, we have taken the time to research and distil the main tips for avoiding the most common pitfalls of Working From Home (WFH).

The resounding advice in its simplest form is: Establish Routine.

Before setting your new schedule, decide what your Working Hours are going to be. Perhaps you are a morning person whose best work is done at sunrise? Or maybe you are a night owl, most alert in moonlight. Whichever you may be, adhering to set waking and sleeping hours will balance your circadian rhythm, which in turn will further improve your productivity. Additionally, WFH veterans (and studies) all agree that the first 60-90 minutes of wakefulness set the tone for the rest of your working day.

So here are some ways to set your tone right:

1. Avoid emails till your Working Hours begin

And maybe also the news…

Nothing is worse than reading stress-inducing emails in the first 2 minutes of wakefulness.
A general principle worth trusting is this: If there were a truly catastrophic issue with work, someone would (and should) call you.

An email is, after all, an inefficient way to communicate an emergency. And so, your inbox can wait till your Working Hours begin.

2. Do something for you
like 3. Schedule exercise and stick to it

If you are a member of the ‘morning people clan’, then scheduling your daily exercise first thing may sound like a viable option for you. A wealth of scientific evidence has pretty much established as fact that exercise boosts mental, emotional and physical well-being. As a bonus, working out in the morning has been shown to be really great for habit-forming, giving you your best start to the day.

For others, vigorous movement moments after waking might sound like the 6th Circle of Hell.
Don’t worry; you don’t have to do it first if you don’t want to – but definitely do it later. In the meantime, perhaps you can start your day instead with 15 minutes of that book your friend recommended, or listening to your favourite podcast, or perhaps you are ready to finally take up meditation?

4. Get dressed (Optional: after a shower?)

Yet again, studies support the habit of getting dressed before work – even if you are WFH – as a simple yet effective way to cultivate that productive mindset for the day.

And here is an angle you may not have considered:
For those of you unaccustomed to working solo, it is advisable to have as much contact with your employer/ employees/ colleagues by video chat. Not only does this maintain accountability within your team, but it will also help fight the emotional disadvantages of social distancing. So don’t get caught in your pyjamas when the boss misses seeing your beautiful face!

5. Map out your day by setting goals and commitments

Your Working Hours have commenced. You are at your new designated ‘office’ space, equipped with your caffeine mug of choice.
Use your first 5 minutes to establish your goals for the day. Thinking about what you would like to accomplish within your Working Hours will help you budget your time more effectively and mitigate the risk of your Working Hours gradually and sneakily lengthening over time. Additionally, it will serve as a great measure of how successful your working day has been at the end.

6. Stop Working

Do not let your Work Day melt into a Work Evening (unless of course evenings are your chosen Working Hours).
It is very important to set and adhere to the boundaries between work time and personal time within your own home.
Take care of yourself: Stop at the stopping time, even if you are not completely finished.

A thoughtfully and realistically mapped day should see the end of your to-do list lining up nicely with the end of your Working Hours. A completed list acts well as affirmative permission that it is OK to stop. If you completed your list too early, perhaps you can get a head-start on tomorrow?

If however you find yourself running out of time, analyse the possible reasons why and amend your mapping approach accordingly:

  • Perhaps one of your tasks has taken longer than you anticipated?
  • Are you expecting too much from yourself in one day?
  • Or maybe, just maybe, you have spent too much time honing your procrastination tactics?

This last one is OK and important to admit to yourself in order to do better tomorrow. A very easy way to improve is by setting up better accountability measures (e.g. Those fully dressed video calls with colleagues we mentioned earlier?).

7. Schedule an After Work activity

Highly recommended is planning a video chat with a friend or family member soon after your Working Hours.
This will make your chosen stopping time feel more meaningful, as well as supply you with some very much needed social interaction (albeit at a distance). Checking in on each other regularly will help keep us all connected, sane and positive.

Other ideas include watching that next episode of your favourite series, or maybe you have been dying to give your children the attention they have vied for all day, or perhaps you have decided that yes, now is the perfect time to finally distance learn Japanese…

So long as it is something you really like and will want to wrap up work for, it is a good idea.

That’s all folks!

We hope you have enjoyed our tips and advice for WFH and perhaps have had an idea or two as a result. We are going to be applying these principles ourselves as we continue to support you from a distance.

We would also love to hear any and all of your own tips and advice moving forward in our first week apart. Share your experiences with us on Instagram @worldsendstudios_chelsea

We are still working together!

Woman working from home

Worlds End Studios supports your business to grow and succeed. Have you ever thought about taking on a virtual or private officemeeting room or co working space? We have flexible services to meet all of your business needs.