Francis St. Holder, as the Chief Technology Officer for Information Technology Security and Consulting, Incorporated, has had to learn much about what it takes to run a business so that he can help clients in the Washington, DC area. St. Holder works with many small businesses in the area to help them run smoother and faster with better communication technology and data storage and access systems. His work has provided many businesses representing many different industries with the tools they need to expand and build on their services to their own clients in the area. St. Holder strives to provide these businesses with the tools they need to succeed in whatever target market they are in. Over time, he has learned that to run a business, you’ll need these five things to get started:
- More time. Unless you can bend the fabric of space-time, the only way you’ll get enough time to manage clients, manage your employees if you have any, manage your budget, and create new products and services to offer is to develop excellent time management skills. The best way to manage your time is to develop a schedule that allows you to handle all of your business operations without getting burnt out and stick to it.
- Enough to run your business for a while on a deficit. Chances are, your business won’t start making money until at least a year has passed. In order to keep your head above water for that long, you have to save and scrape together enough capital to cover all of your business expenses for that period of time.
- Patience. Francis St. Holder has seen many businesses fail in spite of his Information Technology solutions because of lack of patience. Business owners that expect too much from the outset can expect to lose their business before it gets started. You have to expect some failure and slow growth at times, especially early on when you’re trying to establish your business and your brand in your target audience.
- Research. As a business owner, you have to research everything. When you’re starting up, does it make sense to rent one space or another, or to buy retail space in a cheaper area? Researching the costs of everything your business needs to make a profit will make keeping those costs down much easier and help you avoid getting into a situation you’re not prepared for.
- A business plan. Before you spend any money on getting your business up and running, you have to develop a business plan. Most investors won’t even talk to you without one. Find out exactly how much you’ll need to run your business and how you’re going to reach customers before you start taking out loans and sinking your life savings into your new business.
Francis St. Holder has helped many businesses become successful.
