How to Start (or Restart) Your Business in 2024: The Ultimate Guide for Small Business Owners

Hey there, my friend! Let’s take a trip back to the beginning – yep, the very start. If you had to start your business all over again today, with all the knowledge and experience you’ve gained so far, what would you do differently? What would stay the same?

In this blog, I’m sharing insights from Episode 317 of the Small Business Made Simple Podcast, where I dive into what I’d do if I were to start my business again in 2024. There’s plenty to learn from what worked and what didn’t, so buckle up and let’s get into it!

Find Your Niche and Understand the Market

First things first – niche down. If you’re starting fresh, you want to find a space in the market with high demand and low competition. It’s not just about selling anything; it’s about knowing what makes you different.

Take podcasting, for example. When I started my podcast six years ago, it wasn’t nearly as popular as it is today. But I saw the potential and ran with it – that was my way of being different. Your goal should be to identify what makes you stand out in your industry and double down on that.

Set Your Goals – And Be Specific

Starting a business (or even revamping one) is no small feat, so set clear goals for your business from day one. Whether it’s financial, marketing, or personal growth, have a roadmap. This is your guide to stay focused and accountable as you move forward.

A pro tip? Include a SWOT analysis (that’s Strengths, Weaknesses, Opportunities, and Threats for the uninitiated). I didn’t do one for years, and when I finally did, it was a game-changer. Not sure where to start? Get ChatGPT to help you, or even better, sit down with your team and nut it out together.

Get Crystal Clear on Your Ideal Client

Here’s the truth: you have to know your customer. If you don’t know who they are, what they love, what they complain about, and where they hang out, you’ll be spinning your wheels. So, do your research. Talk to people. Listen to their language. Figure out what they truly want.

I promise, once you get clear on who your ideal client is, business becomes SO much simpler. Pinky promise!

Don’t Wait for Perfection – Just Start!

It’s easy to get caught up in trying to make everything perfect before you launch – trust me, I’ve been there. But here’s the truth: you don’t need perfection. You just need a minimum viable product. Something that solves a problem or meets a need, and then refine it as you go.

My approach? Ready, Fire, Aim! Just get your product or service out there. Fix and tweak it later. Time waits for no one, my friend.

Build Your Brand – Not Just Your Business

One of the best pieces of advice I’ve heard is from Richard Branson (yep, the legend himself): build a brand that resonates emotionally with your customers. It’s not just about solving problems; it’s about creating a lifestyle and identity that people want to be part of.

This is exactly what I did with Buy From a Bush Business – people wanted to belong to something. It’s human nature to want community, so lean into that. Build a brand that people connect with on an emotional level.

Make Yourself Easy to Buy From

This one might seem obvious, but you’d be amazed at how many businesses miss the mark. Make it easy for people to buy from you! Whether it’s online or offline, don’t make your customers jump through hoops. Simplify the process, and make sure they can get what they need without hassle.

Content Is Still King – But Be Authentic

It’s no secret that content is crucial to marketing your business, but here’s the thing: it’s not just about creating content, it’s about creating authentic content. If you want to get noticed, pick a platform, pick a theme, and go all in.

And yes, that means video too! I know, I know – video can be a bit daunting. But trust me, it’s where the magic happens. Show up as you are – warts, beauty, and all. People don’t want perfect; they want real.

Network Like a Pro

Finally, networking is a massive part of any successful business. It’s not just about who you know, but who knows you. Get out there, meet people – online and offline. Form partnerships with those who have your audience but aren’t your competition.

Remember, no one builds a business alone. Surround yourself with people who inspire and challenge you, and watch your business thrive.

In a Nutshell

So, what would you do if you had to start your business all over again? Here’s what I’d do differently:

• Find a niche and stand out
• Set clear, strategic goals
• Know your ideal client inside out
• Start now, don’t wait for perfection
• Build a brand that resonates emotionally
• Make it easy for people to buy from you
• Create authentic content
• Network and build partnerships

There’s no magic formula, but there are steps you can take to make sure your business is set up for success in 2024.

A Final Thought

If you found these tips helpful, be sure to check out Episode 317 of the Small Business Made Simple Podcast, where I go into even more detail about how to start or restart a business in 2024. Plus, don’t miss out on all the amazing insights from other episodes – including my throwback to Episode 227 on ChatGPT, which is still incredibly relevant today!

About the Author: Jenn Donovan

Jenn Donovan is a global marketing strategist, speaker, and mentor, specialising in helping small businesses in rural and regional areas grow through simple, no-nonsense marketing strategies. She’s the founder of Social Media and Marketing Australia and the viral Facebook group Buy From a Bush Business. Jenn is also the author of Small Town Big Impact and the host of the Small Business Made Simple Podcast, ranked in the top 1.5% globally. She’s passionate about building communities and making marketing easy and accessible for everyone.

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