10 Steps to setting up a business
10 Steps to setting up a business
We all know that setting up a business isn’t easy but setting up a successful business is even harder. There are so many different options and ways to set up each and every little business however the important factors are all the same. At first they may seem daunting but we can make it easier for you.
Follow these easy ways to set up a business and you will be as ready as ever!
Create a business plan!
If you want your business to be successful, a business plan is essential. Business plans can help you avoid big mistakes, the last thing you want to do is to set up a business to realize you were doomed from the start. Developing a business plan will help guide you down the right path to success.
Choosing a Business name
You need a name that is catchy, memorable and effective. A good business name can be the difference between success and failure. However make sure you do not create confusion with your competitors, this can cause massive loss with sales!
This is a very important one! Sometimes you may think it is easier to just sign up to whatever energy plan that is available, this isn’t the case.
Business energy bills can be very expensive although you may think that you’re getting a great deal, it’s more than likely you can get even better. Search the market and if you feel as though you don’t have time then get a professional to do it! Business Sense are experts in saving businesses money on their services costs and best of all, they do it for free.
Gather Needed resources
No matter of the size of your new business, there will be essentials that you need. Write all these down and work out the costs whether that is an office or a printer. Writing down all your needed resources will be a helping hand in starting your business.
Telecoms for your business
There are so many different companies that offer telecoms with a variety of different deals which may all sound appealing however which deal is the best? It can be frustrating and time consuming to go through all the different deals and companies and compare them, this time could be used to be doing something valuable for your business, so if you can’t afford to waste your time comparing different deals for multiple hours, give the professions a call or an email.
Create a maintaining list
When you have your business all up and running, you are going to need a maintaining list if you want everything to be run as smoothly as possible. Create lists of things to do such as payroll etc…
Consider payment methods
There are so many different ways that businesses can sell their services/products to their consumers. Will you only be taking cash as a payment method? If so have you written down the positives and negatives of this method? Will you be accepting card payments, if so what type of card terminal do you want to use? Unsure about your payment choices?
Generally when you open up a new business account, the bank inevitably try to persuade you to take out a card machine through themselves without really understanding your business requirements. There are a host of hidden charges associated with taking payments by credit or debit card and the prospective business owner needs to be assured that they are familiar and that the business can sustain these charges. For completely independent, impartial advice, Business Sense can help.
Launch marketing and brand-awareness campaigns.
Already start to plan how you are going to raise awareness and spread the word about your fantastic business! Be prepared, marketing is a continuous job and will not be completed just because you did it the once, it is ongoing but it is an amazing tool for your business.
Have an Accountant
Accountants are great for giving your business advice, they can help you with your business plan, legal structures of your business and will be a massive help with your finances. Accountants can help you deal with the government; meaning not only your tax returns but can also keep on top of all your regulatory and compliance requirements which to most business owners can be daunting.
Set future goals
Finally you have your perfect business up and running, it’s going great and your profits are soaring but where do you go next? What is your plan of action?
Having future goals will give you a great set up not only from the beginning but all the way through, it gives you ambition and perseverance.
If you need any advice, call the experts on: 01656 720999