Last Updated on Mar 12, 2020 by James W
You’ve had the idea, you’ve done the market research and now it’s time to get to the starting up part of a startup. There’s a lot to work out, from who you want to be to how to market yourself.
Business Plan
A business plan is essential, before you do anything else. How can you get where you want to go if you don’t know where that is? It is hugely important to gather your research, plot out financial projections and establish where every aspect of your business will go. You’ll be glad that you did it later.
Brand Identity
One of the first things you should do is decide who your company is. What do you stand for and what do you sound like? Establishing an image and brand tone of voice helps to get across what you’re all about. Your brand should reflect your target market and embody your message.
Contacts and Networking
If you don’t already have some contacts in the industry, start making them. This is where social media of all types comes in handy. From professional networking on LinkedIn to getting in touch with people on Twitter and setting up a business Facebook page. Of course, there are the old-fashioned methods too. Attend events and workshops, and even call and write to people to establish contact.
Web Presence
Nowadays, if a business isn’t on the web then it’s lagging behind. By not establishing a web presence, you’re missing out on a lot of the action. This includes networking opportunities, advertising channels and establishing a rapport with your customers. The first step to being present on the web is setting up a website. There are several tools that enable you to build a simple website yourself. However, if you need something more complicated or want the whole process taken out of your hands, hire a designer. With professional companies like RT Design Group web design moves onto a higher level.
Accounts in Order
It is imperative that you have your accounts in order. Come the end of the tax year, you don’t want to be panicking. Make sure you have a business bank account to separate your business earnings from your personal accounts. Depending on your business model you may be able to sort out your own accounts at first. When you don’t have much money going in or out, an accountant would just be a waste. Once business starts to pick up, you’ll need an accountant. You don’t want to risk making any mistakes. Plus, a good accountant could help you save money in the long run.
Starting a business is exciting, but don’t rush into it. Get everything in order before you begin and know exactly what you’re doing with every part of the business. Otherwise, you’ll be constantly unsure of your next step. Remain a few steps ahead at all times, and you won’t be taking such big risks.
