Tue. Jul 23rd, 2024

So You Want to Start a Small Business!

That’s great. It shows you have ambition and initiative. People start their own small business for any number of reasons, but usually they have a product, service, or an idea in mind that they would like to develop.
Once you have decided what you would like to do it is imperative that you do your own thorough research to see if it is practical and that there is a market for it. You need to look at the competition and see what they are doing. You can do this by looking at their websites, business premises, brochures, adverts, etc.
When you have gathered as much information as you can, use this to develop a plan of action. A good illustration of this is to imagine you have just moved into a new house which has a large rear garden. What would you do? Draw out a plan of the area and put in some measurements so that you can decide where you would like to locate things, such as patio area, paths, trees, plants etc.
You could make a few sketches of how it will look when it is finished so that you have something to work towards. You need to do this with your small business idea. Write it out a few times, correcting it and adding details that you have overlooked. Guess what? By doing this you are creating a business plan!
It does not need to be elaborate, you can always enlarge on it later, the important thing is to get your ideas down in writing and it will help you to clarify your thoughts and sharpen your ideas. This is going to be vital as you progress towards starting your small business.
There will be many decisions you will need to make as you work through the preparations necessary to starting up, but having a plan written out will give you something to reference your thoughts with, it will be like having a map so that you can check your progress along the way.
This is just a basic outline for starting your own small business, obviously some start-ups are much more complex than others, it really depends on the technical nature of the product or how elaborate your idea is. You may need to seek professional help both in the field of product and market research; perhaps you could consider the use of a template to help you prepare a business plan.
You will be able to find all the help you need by searching our website. There are articles you can read that will get you up to speed. There are also videos you can look at that can be very useful when you are taking the steps that will lead to establishing your small business.

By Rusty

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