Angels Den Blog

2008 was an absolutely terrible year for businesses across the board, with most sectors reeling from the collapse of banks, the disappearance of household-name retail chains and the financial misery of credit crunch and recession. So we have compiled our top ten New Year’s resolutions to help entrepreneurs focus on what’s really important for their business ideas in 2009.

New Year’s Resolution #1 – I will follow my dream
There are so many people out there who have the dream of being their own boss, of taking a business idea to market and of financial stability and entrepreneurial success, who simply do not follow their dream. The first step on the road to being an entrepreneur is to allow yourself not only to dream the dream, but to make it a reality, to immerse yourself in it and commit to its success.

New Year’s Resolution #2 – I will learn something new every month
Successful entrepreneurs are always learning, constantly seeking out the knowledge they will need to make their business idea better, faster, more competitive. However, there is no better time to gain good practical business knowledge than when you are considering setting up your own company. It is important that you learn from the mistakes of others, understand the financial side of your business idea and create an achievable plan of action to push your business idea forward.

New Year’s Resolution #3 – I will network like there’s no tomorrow
You know the old adage “it’s not what you know, it’s who you know” – well, we believe it’s a bit of both, really. Networking is one of the cheapest and most effective ways of promoting your business idea, and finding potential partners, customers and colleagues, and is a great way to learn from the successes and failures of others. There are plenty of paid networking events that you can attend, but Business Link offers free networking events across the country which are well worth checking out. The London events attract over a hundred people at a time and offer speed networking to build your business card collection.

New Year’s Resolution #4 – I will know when to ask for help
One of the most common mistakes when launching a new business is to make yourself into an island, to believe that you can do everything yourself. You are not Superman (or Woman); you will burn out if you are working 70+ hour weeks, doing several people’s jobs at once. Knowing when to ask for the assistance of accountants, solicitors, PR consultancies and others to push your business idea forward is a key ingredient in the recipe for entrepreneurial success.

New Year’s Resolution #5 – I will commit myself to my business
To launch a new business takes time and dedication. If you were thinking of quitting your cushy job to run your own business so you can work your own hours and spend more time with the wife and kids, think again. To build a business means long hours, setbacks, learning new skills, wearing several different hats and an unpredictable salary for some time until things find their natural groove and you can relax a little. So whether you are launching a new business idea, a new product or service, or are looking to give your current business a boost, expect to have to commit yourself fully if it is to stand a chance of success.

New Year’s Resolution #6 – I will find more time for myself and those I love
While commitment is essential, time out is also important. Everyone needs downtime, a chance to revitalise and remind yourself of what it’s all for. Do not sacrifice your life and the relationships in it for your business goals, because without them your business pursuits will seem empty and meaningless. Family and friends will have to appreciate that they may see less of you when you focus on your business, but they are the motivation, the purpose and the reason behind your thirst for success – so never forget that.

New Year’s Resolution #7 – I will give something back this year
Giving is an excellent tonic for the soul, but it is also a wonderful way of providing your business with long-term social standing and an excellent way of promoting your company. Sponsor a school activity, give a percentage of your profits to charity, or offer school leavers work experience in your company. Public perception is an important tool in your promotional arsenal, charitable contributions are always a PR opportunity, and giving feels good too.

New Year’s Resolution #8 – I will live more healthily
It may be tempting to live on takeaways and junk food because you’ve so little time to yourself when you’re building a business, but your health is key to the health of your business. Long working hours, lack of sleep and stress are a recipe for poor judgement, mistakes and illness – none of which have positive ramifications for your business. As a business owner, you should exercise regularly and eat healthily to keep up your stamina for your demanding roles. Only then will you have the strength to push your business idea towards its true potential.

New Year’s Resolution #9 – I will tame the web
The internet is no longer a revelation but an essential business tool. Web-based businesses have recently been reported to be the most robust against the recession, and whether yours is entirely web-orientated or simply uses the internet as a promotional medium, it is important that you pitch your online presence correctly for greatest effect. If you need help taming the web for your business idea, go to www.scribbles-writing-services.co.uk for imaginative design, influential copy and intelligent ethical search engine optimisation.

New Year’s Resolution #10 – I will fund my business carefully
Developing a business idea within your financial means is essential. It is important to understand the financial implications of your business decisions, as otherwise you will almost certainly follow the well-trodden path of the ill-fated entrepreneur. If your business could benefit from additional funding to release its true potential visit www.angelsden.co.uk to find out how our Angel investors could help your business to grow this New Year.

Let 2009 be your most profitable year yet: contact us at www.angelsden.co.uk for business investment advice and information or to find out about our SpeedFunding events, master classes and seminars on gaining business finance.

Image © NomadicLass