Read Our Blogs

What Are the Key Things to Do after Setting up a New Business?

Congratulations! You have succeeded in becoming a business owner! Take a moment to appreciate yourself. What is the next thing to do? Only half of the new businesses survive through the first 5 years, so how can you establish a strong threshold for your business? It might be overwhelming to think about all that but early planning has a big impact on the future of your business. Our local business directory started as a small start-up and now we have helped many small businesses grow through the years.

Here are some of the key things that you should plan from the start for your new business to thrive.

1. Create a Solid Plan

Now that you have succeeded in starting a business, you will already know that everything great comes from careful planning. You don’t want your new business to carry on aimlessly, so take the time to create a solid plan.

This plan should help you create a blueprint for the path you want to take to reach your goal. You can break down the tasks required to reach the goal into small steps and this will help structure your work day.

With this meticulous planning, you will be able to prioritize the areas that you have to start working on immediately rather than meddling with multiple tasks at the same time. You can even create a vision board for visual guidance and motivation.

2. Think Long-Term and Work Short-Term

One common mistake that small business owners make is to think in the short-term. This is the reason why most small ventures go out of business after a few years. 

While starting a business, do not immediately look for profit since the first two to three years are the hardest. You should be ready to lose money but still have the strength to keep moving on. Train yourself to view the hurdles calmly and by the end of the third year, you would have stabilized your business.

3. Turn Heads and Make People Notice

New businesses are opening every minute. So, think about what makes your business special. The first step in gaining customers is to let them know that you are in business. This should be your prime focus after starting a business.

Marketing your business can start with creating a website or setting up social media pages. If you are starting a retail store, then you can organize a grand opening function. You can check the cost of online ads and ads in publications.

For your website or business to show up in the top search results, effective SEO is the key. Also, create small business listings with local business directories since it increases the authenticity of the business and makes it rank higher in the SERPs.

Once you have gathered a decent customer base, you can start “word of mouth” marketing. Ask your customers to leave reviews and recommend your product/service to their neighbors and friends. Post these reviews and testimonials on your website and social media pages.

Also Read: Developing a Strong Online Presence for Start-ups

4. Find Your Niche and Keep at It

Once you enter the business world, one great realization for you would be the number of opportunities available. If you jump at every opportunity that comes your way, you will lose focus on your goal. This could cost you time and money which you cannot afford during the starting years of your business.

Know what you do best and keep at it during the initial years. If there is a new opportunity that comes your way, then take the time to evaluate it thoroughly. If you find that it resonates with your goal and there is room for improvement then go with it. If it doesn’t, ditch it.

5. Set Your Finances Straight

Overlooking financial matters is another common reason for small businesses to fail. Make sure that you trace your cash flow and payment timings closely. Create a financial goal for you to stay on track.

Aim to create a good credit score since it is important for a leasing plan in the future. Do not confuse revenue for profit. Factor in all the expenses and you should still have 15-30% profit for your business to reach a good place. 

6. Focus on Customers

The product you created is your brainchild and it is normal to be biased. In your eyes, the idea would be perfect but you would start noticing the shortcomings after you begin with the sales and advertising.

Do not be disheartened and instead focus on overcoming the shortcomings. Think of it as a troubleshooting session and find ways to improve the product. With customer feedback, you will be able to get an insight into their needs. Making your service/product meet those needs will be the first step in perfecting your business strategy.

Check the reviews on social media, review sites and more. Also, check out your competitor’s products and corresponding reviews. Find out what they are lacking and include it in your product/service. This will help your business thrive in the competitive market.

7. Get Help When Necessary

Setting up a business means that you get to be your own boss but it can also get exhausting. You have to manage multiple positions in the initial years and this can be daunting. 

Getting help when needed is one of the vital qualities of a business owner. Recognize when the tasks get too much for you and get appropriate help. It might be hiring a secretary or simply getting the advice of a financial advisor. Know your limits and work with them. 


Building a strong customer base with a steady inflow of new customers is possible only with a strong online presence. Add your business to our local business directory to enjoy a boost in the search result ranking. 

  • Aug 23, 2022

Comments - 1

Share Your Thoughts

Verify you're Human*

Just check on this box below to verify

Search our Blogs

Show Blog Categories

Categories :

SEO/SEM (33)

10 Smart Ways to Build Backlinks to Your Website

12 Most Important Tips for an Effective SEO Strategy

Artificial Intelligence (AI) - Your Business on Google Search is Changing

BERT Algorithm Update: Goodbye, Keywords! Hello, Search Intent!

Busting Myths About Online Business Directories

Exploring the New Technologies in SEO (Keeping Abreast With the Ever-Changing World of SEO)

Get quality backlinks to your website 101

How to Use Business Profiles as Landing Pages for Marketing Campaigns?

How are Data and Empathy key to great Marketing?

Keyword Research to Strategize Your SEO

Link building techniques for 2019

List of Emerging Business Profile Creation Sites You Cannot Afford to Miss

List of Top 10 SEO Companies in Chennai

Optimizing SEO – A Business Lifeline in Pandemic Times

Paid Business Listing vs. Free Business Listing (Pros and Cons)

Rewriting Tools and Services

Role of Bing in Digital Marketing

Search Engine Optimization Techniques That Will Increase Your Website Traffic - Part 1

Search Engine Optimization Techniques That Will Increase Your Website Traffic-Part 2

The Five Imperatives Of Great Website Ranking

Top SEO Blogs for Beginners

What are SEO Optimization Technique?

What are the Best Websites to Use for Effective Business Listings?

What are the different types of Business Directories, and how to choose the right ones?

What are the Key Differences between Local SEO and Business Listing?

What are the Possible Features you can expect in a Business Profile Site?

What is SEO?

What is Technical SEO

What is the Concept of Google Page Rank Algorithm

Why customer reviews are critical

Why Isn’t My Business Showing Up in the Top Searches?

Why Mobile and Page Speed Matters in SEO

Why Updating Your Business Profile Is Essential to Rank Higher?

Small Business Advisory (32)

10 Safe Cost-Cutting Options for Small Business Owners

11 Tips from Removalists When Relocating to a New Office Space

15 Small Business Ideas That Do Not Cost Money

5 mistakes to avoid when naming your business

5 Ways by Which Start-Ups Can Earn Consumer Trust

5 Ways to Increase the Visibility of Your Business

6 Common Mistakes Security Agents Make, Choose the Right One

8 Efficient Ways to Take Charge of Your Small Business' Online Reputation

Business Interruption Insurance

Creating a vision board for your small business: Does it work?

Developing a Strong Online Presence for Start-ups

Difference between a Small Business and a Micro Business

How to Use Business Profiles as Landing Pages for Marketing Campaigns?

How Should Small Businesses Change to Survive the Pandemic

How to Promote a Small Business?

How To Start A Small Business In California – Easy Steps

How to Take Maximum Advantage of Local Business Directories for Promoting Your Business?

Is Becoming a Member of a Trade Association Necessary?

List of Emerging Business Profile Creation Sites You Cannot Afford to Miss

New Yorker Starts a Coaching Business in Silicon Valley

People Are Quitting Stable Jobs for a Side Hustle –The Good Things About Being a Solopreneur!

Pro Tips - Pick the Best Estate Agents for You

Small Biz Ideas with Low Investment

Small Business Marketing Trends for 2021

Strategies for Small Business Recovery after the Pandemic

Top 10 Reasons Why your Small Business MUST have a Digital Presence

Top SEO Blogs for Beginners

What Are the Key Things to Do after Setting up a New Business?

What Is Upselling? In What Way Does It Benefit Your Small Business?

Who is a Social Entrepreneur

Why Market Research is Important for SMEs (Small and Medium Enterprises)

Why You Should Work for a Small Business

About the Author

LocalBizNetwork, LLC was formed in 1999 to help small business owners with Online Solutions. The company has grown into a global small business organization from its humble Silicon Valley roots. LocalBizNetwork, LLC has partnered with various small business organizations throughout the world to build a marketing platform that will help the business owner become more visible in the online world.

Do You Have Questions?

Feel free to contact us by email. We usually respond within 24-48 hours.