Wednesday, May 22, 2024

5 Steps to Starting Your Business.

July 5, 2019 by  
Filed under Money/Business, Weekly Columns

( If you have always dreamed of working for yourself and starting your own business, then maybe this year is going to be that year, the year that it all changes for you. The problem can sometimes be knowing quite where to start, so here are our 5 steps to starting your business to get you going in the right direction. 

The idea

This one comes easily to some people, whilst some seem to stumble right here at the beginning. Whichever category you fall into, do not despair, the idea will come and you will be able to develop it.

The best way to work out exactly what your new business should be is to think about you current skill set first. This might be in an industry that you are desperate to get out of, but stay with us here. Your skills may well be transferable and help you to start an entirely new business, so think hard on these. You will then need to consider the things that interest you, the things that you would like to do if there were no obstacles at all. Somewhere within there and your skills will be the germ of a great idea, so work on that. 

Make a plan

Now that you have an idea, you need to drill down into how that will translate into a plausible business. 

You will want to brainstorm around this, bend the ear of trusted family and friends and start mapping out exactly what your business will look like. Think about how it will run, who will be your customers and what will you need in order to make this into a reality. At this stage you will want to write a business plan and you might then need to apply for funding. 

Get help

Now that you are starting to put this into motion, you might hit a few walls here and there. Do not worry as whatever the specifics and areas of expertise, we can assure you that help will be available. Don’t allow a lack of knowledge or confidence in one area hinder you, or even worse, put you off starting at all.

Develop your branding and image

You will now want a name, a brand, a logo, a look, the whole thing. This might have been the first thing that came to you, or this might be a difficult area to come up with. As above, get help, as first impressions do count, so get a graphic designer involved if need be to make sure that your business and products really do stand out.

You may need to consider signage, you might want to think about using Product Labeling Equipment for your branding and packaging and you are definitely going to want to design and set up a website. 

You will want to create the right image for your potential customers and clients, so do take the time to get this area right.  

Understand your customers

You now have everything in place, so you will need to get some feedback from your potential customers. Ideally, do this before you are launching as their feedback might improve your branding, how you set up your store or how you deliver a certain service. 

Act on any and all constructive criticisms here as your customers know what they want better than you do. Work to appeal to them and deliver to them 100% of the time. 

You are now ready to launch, good luck! 

Staff Writer; Ron Poole

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