Despite being in Jennifer's mind for about 10 years, Calla was only launched three and a half years ago. Jumping from a business idea to the concretisation of it is a huge step with multiple obstacles on the way. Our CEO, Jennifer Bailey, has compiled her top 5 tips for you if you're thinking on launching a new business:
1. Start a business in an area you are passionate about
Running a business is - obviously - not an easy task and it requires hard work. It is a life of ups and downs, so getting from rock bottom to the top of the hill requires motivation - that's why working on something you really is a plus.
For Jenni, the struggle to find stylish yet comfortable shoes for her bunions worked as a driver to start and run her business, so she could her other bunions sufferers too.
2. Get support from day one
Starting and running a business will bring you many obstacles, and you might not be an expert in the area, particularly if you're doing it for the first time and even if you have a background in the business industry. Hence, it's so important that you get advice and support, as there are loads of people out loud who would be more than happy to help you.
In Jenni's case, despite her marketing background, she found constraints in other areas, such as accounting and how to design and make shoes.
3. Do lots and lots of research
Once you got a business idea, there is a question you should ask yourself: is there a market for that? Would you be able to make money out of that?
You can start with online research, in order to find out your market - if there is one - and your potential competitors, both in your country and worldwide. It will be much clearer for you when launching your product as you must have something that differentiates you from your competitors.
Jennifer started by researching the prevalence of bunions in several countries, the demographic of a typical female bunion sufferer.
4. Put yourself out there
Creating networks and meaningful relationships with people is key. If you meet somebody that you cannot help, you might know somebody from your network who might be able to do so. That can happen to you to: you and your business might be recommended to other people by somebody from your network.
Joining a startups programme might be another good idea: Jennifer joined one that was completely free and it helped her immensely as the combined knowledge of everyone can help you, not just with their knowledge, but also mentally when times are tough.
5. Work on your mindset
Jenni is a true believer that the main thing that set people apart from others is their mindset to learn, to listen and to set goals. Don't be afraid to step out of your comfort zone and try something new! Learning from your mistakes is also really important.
This is something you have to work on, since some days you might just no be in the mood, so you need to change that little microchip in your brain and think 'this is NOT the right mindset, I CAN do this'.
Jennifer explains more in-depth her tips on her YouTube video about that. You can check it out below:
Have you started or are you thinking about starting a new business anytime soon? Tell us what is it about in the comments section below!