What to Consider before you Start a Business

Each year sees the rise of new companies, and though many tend to begin in January, there
is no such thing as “the right time” to start a business. If you have recently decided it’s time to get
the ball rolling with your business, take a look at these handy tips to get yourself started.

Why do you want to start a business?

Firstly, if you are looking to start a business, it is important to ensure that your intentions for
doing so are reasonable. If you are simply looking for a get rich quick scheme, or you are looking for
a reason to work from home and come and go as you please, you are certainly looking in the wrong
place.

In the early days you will have to put in a lot of work and make a whole list of sacrifices and
hard decisions. This is why it is important that you are sure you are positive about your business as
this is what will keep you driven during difficult times.

Research is Essential

Though you may think your idea is genius, you won’t gain anything if there isn’t a demand.
The most successful people to start a business did so by solving a problem many people faced or met
a need that others hadn’t met yet. It doesn’t usually come down to having an idea that is interesting.

So before you get too deep into your business, you need to be absolutely certain that there
is a market for it. How do go about doing this? Market Research! Doing so will enable you to
understand your target market, putting your in a better position to provide them with what they
want, thus increasing sales.

Ensure your Plan is Clear

You will start your business off better if you have clear goals and aspirations in mind for the
future. This means setting them out in front of your and looking at how you can achieve them. Put it
into writing and come up with a strategic method in order to see how attainable they are.

While your plan to start a business is in motion, you can look at them over time to check
your progression, what has worked and what hasn’t to see what changes can be made. This step is
key if you are applying for finance as it is important to lenders to know that you have a solid plan
which you wish to execute in order for your business to be successful before they give you the go
ahead.

Pick your Business Name and get it Registered

When you start a business, you need to think about the first impressions you want your
business to leave, so it’s important to pick a name that will stand out and be remembered, all while
reflecting how you want to be seen. Once chosen, and you are happy with your decision, check to
see if it hasn’t already been used or trademarked otherwise you won’t be able to register it. It will
also stop people from getting confused.

Have a Marketing Plan

Marketing is essential if you wish to start a business and you want it to be successful. It may
seem like an uncomfortable idea to get out there and sell, but it helps if you have a plan and
strategy. This plan needs to cover things such as social media, content marketing, PR, SEO and more.

Get Organised

When you start a business, it’s easy for the little things to slip out of sight. It’s important to
keep an eye on notes and have deadlines and scheduled set and remembered. There are many free
applications and web services to help you keep track of what needs to be done, such as Trello, Slack
and more.

Cloud Storage

If there is a lot of data involved, cloud storage is a cost effective solution as you can access
what you need no matter what device you are using or where you are, as all you need is an internet
connection. This makes it easy to reduce paperwork and collaborate with colleagues as you can all
share the same platform for whatever you may need.

An Accountant is Necessary

It may seem early and you may wish to do some of it by yourself, but when there are so
many things to cover as you start a business, having the right accountancy to support you will give
you ease of mind when it comes to financial risks.

At Steven Glicher, it is our mission to keep businesses on top of their accounts in a way that
is affordable, easy to understand and can offer plenty of advice. Contact us today to see how we can
help you as you begin your business journey.

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