Key Phases to starting a Business
Starting a business can be a daunting time. Forcing yourself to sit and write out a basic business plan will help you to consider those key areas and make an informed decision on whether your Business idea has the ability to become a reality…..Here are some basic tips to consider:-
- Idea – This is the foundation of your business and should be something you are passionate about or believe can make money.
- Research – Conduct thorough research to understand your customer, market, competition including risks and challenges
- Plan – Create a detailed business plan outlining your business objectives, USP, Target audience, financial projections and most importantly how you will sell your product or services with your advertising/marketing strategy.
- Structure – Branding, Company name, Availability, Staffing, Sole trader or Limited, Administrative requirements
- Funding – Secure the necessary funding to start your business. Write a clear financial plan, considering initial start up costs, ongoing annual costs and return on investment.
- Launch – This is the fun part, bring your idea to life and let the hard work commence!
If you are looking for business support and live in Suffolk, Essex, Kent or the surrounding counties then Contact Us
We offer a free consultation where we will sit, listen and provide some early guidance on how to make your business to life.