Robby Clark is the founder and CEO/Founder of SID Developments, eFresh Meals, Lawn Care Alert & many other companies. SID Developments is a real estate company dedicated to creating value in cities across Ontario; eFresh Meals is a brand new, innovative meal prep company that delivers healthy, balanced, chef-made meals to its users; and Lawn Care Alert is a landscaping and snow-removal company that helps its clients maintain great-looking lawns all year round.
Even though Robby currently runs several successful companies, his path to success was quite challenging. Robby's first business, a healthy vending machine company, Robby had difficulties keeping the business scaling but taught him a lot. Robby learns through the fire, it’s paid off.
Robby aims to help all aspiring entrepreneurs get their businesses off the ground and avoid making the same mistakes he has. Robby uses the power of social media and shares invaluable advice and financial education videos on his Instagram.
Here are Robby Clark's tips for starting a new business.
Do Your Research
Before starting a business, it is essential to conduct thorough research. "You need to research the market, others in the same & others in the field & see what you can add that doesn’t currently exist" Robby advises. "This will help you understand your target customers as well as the potential opportunities and limitations within the market."
In addition, doing market and competitor research can help aspiring entrepreneurs develop a unique product or service that provides more value than that of the competition. "When I started my first business, I didn't do proper research, but I learned from my mistakes. All of my current companies are the result of searching for industries where I thought I could provide more value than the current market provided," Robby explains.
Come Up With a Business Plan
Robby advises all aspiring entrepreneurs to understand their mission before starting a company. This will help keep you focused on your path to success. You can change the plans, don’t change the goal.
"My first business plans were very crude" Robby says. “But it is vital that you come up with a plan—any plan. Think about your goals, your finances, and action steps to move forward. Understand you’re in the game of problem solving now."
"Start small, but right away," Robby says. "The sooner you start, the faster your learning curve. You start small to avoid being discouraged. You can always scale up if the problems are too easy and not challenging enough. There's no shortage of problems in the game of business. You're here to grow and learn."
Earn While You Build
Robby advises those who have a day job to keep them at the start. Building a business takes time, and any income is a great bonus. "Build your business in stages and gradually transition from full-time to if this is your hesitation" Robby says. "It typically takes time until you start earning a steady income with your new company. Keep your nine-to-five job and work on your business during your off-hours. Once you have a steady cash flow from your company, you can switch to a full-time owner" Robby suggests. Please remember that Robby Clark is not a financial advisor and invest at your own risk.