The complete checklist for your business start-up
You’ve got your business idea; what next?
The journey from employee to business owner can be tricky. There are lots to prepare and remember, but not to worry! We’ve created a checklist to help you take the plunge.
Follow this 11-point checklist to kick-start your business.
Research
First things first, you’ve got to figure some things out. Who’s your target market? Who are your competitors? Market research can help in figuring out everything from customer analysis to organisational structure.
Think of a name
Your market research should help with this. Your company name should not only be unique and appropriate but should also appeal to your customers. Maybe you’ve got an idea already, or maybe it’s taking a while to come up with, but that’s fine! Either way, it’s a process that shouldn’t be rushed.
Your vision, mission, and values
Developing a brand vision and list of values will ensure you stand out from the crowd. Your brand vision, mission and values will make you more identifiable to your target market.
Define your services
Are the services you’re offering clear and straightforward? Have you got a unique selling point? You need to show your customers that you’re different from the rest.
Establishing a fixed list of charges is an important part of this too. It can be easy to undersell yourself. Trust your value and stick to your guns. We believe in you!
Business Goals
Consider your short-term and long-term company goals. It will be useful to ask yourself how you want your business to develop in the next month, year, and next five years. With this, you can create a roadmap which will keep you motivated and help you measure success.
If goal-setting is something you struggle with, check out our blog post which will show you how to stick to them!
Find a mentor
Hiring a business mentor will alleviate some of the pressure that comes with a start-up. Not only will they fill any knowledge gaps, but they can also provide you with honest feedback and assistance.
And let’s face it, sometimes you need to just talk to someone who ‘gets it’.
Finance & accounting
Setting up a business bank account, registering for taxes and monitoring cash flow are all vital in the early days. If all things finance makes your head hurt, think about outsourcing. It’s important to get this bit right!
Health and safety
Get professional advice about what sort of insurance you need. No matter the size of your business, it’s essential!
Sales and marketing
Again, your market research will really lend a hand here.
Setting up a website, social media accounts and pages are all crucial aspects to building brand engagement. Remember: not all of these platforms will be relevant to your business, choose wisely!
Business applications & technology
Think about what you’ll need: laptops, wireless keyboards, tablets, and monitors. Do you need industry-specific equipment? As your business expands, you’ll need to consider what your potential employees will require.
Choosing the right business applications to fit your startup should also make the whole process smoother, whether it’s Microsoft 365 or Google Docs. Installing cloud-based software will keep your data safe too.
Make sure it’s for you!
Starting your own business can be incredibly rewarding. Learning new skills, and increasing personal and professional development are just a few of the rewards. But it can be very isolating.
We’re not going to sugarcoat it. Some days you may be on your own. It can also be stressful and a lot of hard work. Make sure you’re up for the challenge.
We believe in you!
That’s why we developed an even more detailed checklist, filled with questions and topics you should think about.
Sign up and download our ultimate checklist here.