Starting your own company…read our new business tips for where to begin?

So you have a fantastic idea, the determination to make a go of it and the desire to succeed but where do you begin? A business plan? Making stock? Building a website? Looking for networking events?

The short answer to all these questions is yes and therein lies the pressures of running your own business, the ability to spin plates is definitely a pre-requisite!

It is easy to find yourself playing project ping-pong and spreading yourself thinly between all tasks. Here are our suggestions of the first considerations to focus on when launching your business:

The Proposition

This has to be the first thing you consider when starting your own business. What exactly are your selling? If you can’t answer this question then you can’t expect your customer to know either.

Also think though the other elements of your offer for example do you charge postage? What is your returns policy? Do you offer discounts or special offers?

Legalities

It is vital that you are trading legally otherwise you could be risking more than your good name. Here are some considerations:

  • Public liability insurance
  • CE Marking
  • Food Hygiene certificates
  • Patents and Trademarks
  • Professional Indemnity Insurance

The Audience

The first step of creating a marketing plan for your business is to decide who your potential customers are. A brainstorm is a straightforward way to consider who may be interested in purchasing your products or services.

Only by knowing this can you understand what advertising and media they consume and identify ways to make them aware of your business.

The Sale

Possibly most importantly to you is how do you intend to make your sales? Don’t just think what methods are easiest for you, consider how your customers will feel comfortable making a purchase from your business. If you are selling a service your customer may wish to meet you face to face to get to know you better however if you are selling handmade gifts a website offers the perfect opportunity to conduct your sales.

These are just a few decisions you will make on the road to establishing your company, take time to consider each carefully as they create the underlying basis for your business.