5 things to consider before setting up your own business

Thinking of venturing into the world of business but not sure where to start?

We asked Aoife Lawler, co-founder of the Irish Fairy Door Company, what she thinks every woman should consider before setting up her own business. Aoife and her business partner, Niamh Sherwin Barry won Entrepreneur of the Year at the IMAGE Businesswoman of the Year Awards 2018. With years of experience under their belts, we’re hanging onto their every word.

Here’s what Aoife told us:

1. Know who will support you to get your idea off the ground.
2. Identify what you are good at and what value you bring to the business, notice where the gaps will be and fill them.
3. Take all offers to sit and chat, even if you ultimately decide not to take the person’s advice. There is no need to make the same mistakes as everyone else; so listen.
4. Don’t be afraid to be emotional. This is often viewed as a weakness, but I think it’s our greatest strength. Brilliance can come from it.
5. If your idea is good, you will have offers coming from all angles. Don’t feel obliged to take them all. Go with your gut.

Aoife adds how important it is to be original and to remember to share the journey with others. “Being an entrepreneur is about creating something from effectively nothing, and bringing people on the journey with you so that everyone can see the value of what you offer,” she says.