Five steps to legitimizing your business

Everyone’s got to start somewhere. When it comes to new business owners, I’ve found that there seems to be a small plateau between starting an enterprise and being fully committed to the vision behind it. It’s where business owners rest after they’ve thrown open the doors… after all the hard work before the launch, it’s not wrong to rest a little, is it?

Of course not. If you understand how much work is probably still ahead of you, then it’s a great idea to catch your breath for a second before you dash off to the grind again. After launching, there’s a lot to do to legitimize your business so that it will run successfully. Depending on your project, here’s a list of ideas to help you legitimize and get ready for massive growth.

Create systems to help it run smoothly - When customers have a complaint about your product, who should they call? How will you file new contacts and prospects? Is the manufacturer able to meet the deadline, and if not, how will you manage orders that exceed your limited inventory? How will you manage your time so that you’re free to pursue marketing and growth? Can your assistant reach you immediately with time sensitive updates or questions? Every facet of your business should be covered by a system… it’s what keeps the employees (and the owners!) from shrugging their shoulders, wondering what to do when. I’ve recently written about a system that I created to chart the course for my blogging business. If you aren’t surrounded by half a dozen systems to keep the wheels turning, then you may have some work to do to avoid screeching to a halt the next time something unexpected happens.

Focus on training - Training is so, so critical to a new business. If you’re working with a staff, then you should be surrounded by people who know what they’re doing. If you’re a one man show, then you’re going to have to train yourself. For any job I’ve ever held, training someone how to work is only creating a series of habits. It’s just like throwing a dart. You’ll hit the bullseye more consistently if you train your muscles through repetitive action… it’s when your body accepts the habit of the training that makes it work! Your business is going to require you to be a creature of habit, who follows the systems and repeats the actions it needs to flourish. Train yourself and your staff to respond!

Invest your profits to seed further growth - Once you’re making money, the best thing you can do is to use it for growth. Don’t fritter it away foolishly. Figure out how you can use your profits to streamline or improve the systems you already have before you take on a new expense or undertake a new project. One man show start-up? Don’t give yourself a raise in the first year (at least until you do your taxes at the end of your fiscal year, anyways!)

Identify key people, and outsource like crazy - Sometimes there are people who are more qualified than you are to handle a particular task or project. Your contact list should include names, telephone numbers, and email addresses of people who are able to lend a hand when you’re in a crunch… it makes more sense to pay someone for their expertise than to spend valuable time to learn a completely new skill set that only suits your immediate purposes, only to be abandoned once you’ve stumbled into the next snag. I’m an advocate of outsourcing, and I’ve written a small bit about how I do it back in August.

Be confident and proud about what you do - If you’re not going to do it, who will? Get your elevator pitch down. Be able to talk to folks about what your business is all about, without boring them with the technical details. Toot your horn when it’s appropriate. Defend your business and your ideas against those who doubt them… your reputation as a business owner is on the line all the time, and if you aren’t immediately protective and ready to speak up, then the credibility of your brand is going to take a dip.

Readers, do you have any other ideas about legitimizing your business? Go ahead and leave them in the comments!