I want to be my own boss and start a business but I have no idea where to start. Help!
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APPRENTICE star and West Ham United vice-chair Karren Brady answers your careers questions.
Here, Karren gives advice to a reader who wants to start a business but doesn't know where to start.
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Karren Brady gives you career advice
Q: I want to start my own business, but I have no clue where to begin!
Since graduating with a degree in business last summer, I've had a few consultancy jobs for friends and family, and it's shown me that what I really want is to be my own boss.
I love the flexibility and freedom that comes with working for myself, and I'm in a place where I can dedicate all my time and energy to it right now.
However, I don't have any experience in making contacts, pitching for work, or any of the practical side of starting a business.
Do you have any advice on how I can set myself up for success?
Shona, via email
A: Congratulations on graduating and taking the first steps towards your own business.
Try to focus on one step at a time to make the process manageable.
First, decide exactly what your business is, and what you offer that competitors do not.
Work on perfecting your pitch, as you need a clear and concise way to explain what you do, why it's valuable, and how you stand out.
Karren Brady is an 'ice queen' who ignores The Apprentice candidates - even when the cameras aren't rolling, claims ex-star
Networking is super-important, so attend local business events, industry meet-ups, and online webinars to build connections.
These are great opportunities to meet potential clients, mentors and partners who can offer support.
When it comes to finances, it's vital to stay on top of budgets.
Seek out investment or grants to fund your business, and carefully manage cash flow and the tax side of things – you might want to consider using a financial advisor.
Also, utilise AI tools, such as ChatGPT and PrometAI, which can save you time and help refine your messaging as you begin establishing your business – they're great for brainstorming ideas and drafting proposals.
Good luck!
Got a careers question for Karren? Email bossingit@fabulousmag.co.uk.
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