Essential Things That A New Business Should Do

Many people have thought about setting up their own business at some point, and if you’ve decided to take the plunge then there’s a lot to consider. It’s important to get organised from day one and to do your research before you launch, as this will ensure all your bases are covered. Therefore, when you’re busy choosing a location and trying to pick a name, here are a few things that you’ll also need to look into.

Check Legal Requirements

It’s important that you find out the local laws for setting up a business, and make sure everything is done properly. Do some research on how to set up your business, whether it’s notifying the tax office or letting your landlord know you’ll be carrying out business activities in the house. This can take a while, so make sure all the paperwork is done in advance before you launch your company. If you’re unsure about anything, it’s worth getting business advice or speaking to your accountant.

Start getting the word out

Before the official launch of your business, you can often start getting the word out and building some buzz for your brand. In addition to your website, you can use old-fashioned methods such as:

• Putting your sign up – even before your premises open, get the sign up to let people know that you’re coming
• Start circulating word of mouth – let friends and family know of your plans
• Get a graphic designer to make flyers and business cards to distribute

This will let people know that your new business is on its way, and that they’ll soon be able to use your services.

Do some Market Research

You’ve no doubt done some research into the market in your area when you completed your business plan, but you might want to look more into specialist marketing. You might want to hire a team who will be able to decide the best way to promote your company, and they’ll start to put together a comprehensive marketing plan.

Get your website online

Even if you’ve not yet started trading, it’s important to have a web presence and to start getting to the top of the search results. If your full website isn’t ready, then use an online template as a placeholder with some basic information. You can then start to optimise the site by adding relevant content, and using keywords. Again, this is something that can be left to the professionals while you concentrate on the business side of things.

In addition to getting to the top of search results, it’s important to look for ways to advertise online. One simple thing you can do is to add your business to Thomson Local to be discovered by thousands of potential customers, as this will help you tap the local market. You might also look at things like banner ads or advertising on social media, both of which can be effective if done properly.

Get established on Social Media

Gaining a social media following has lots of benefits for your business, and so it’s worth getting your accounts set up as quickly as possible. This will allow potential customers to follow you, and find details such as:

• Your launch date
• Special offers
• Seasonal products and services
• Contact details

It can take a while to build up the number of followers you have, and can take effort to do so, which is why you should start on your social media strategy right away. This will help you to get people excited about your impending launch, and means that they have a place to get the latest information on your business.

Get started with your finances

Don’t wait until your first order comes in to get your finances sorted. As soon as you start putting your business plan into place, you should start organising your finances. Most small business owners will have an accountant, as this means you can let them deal with the more complex financial side of business. Around tax return time, it really pays to have already hired your accountant and to have them already working on your return. Otherwise you might find it hard to hire someone at the last minute when deadlines are looming.

Re-read your Business Plan

You would have had to write a business plan if you wanted to get funding for your business, and you can feel confident knowing that its been approved by your bank. Therefore, you should re-read your plan and see what needs to be done at each stage, ensuring that you follow it as closely as possible. This can be really helpful if you’re ever stuck with anything, as it’ll help you see what you previously planned.

Network

Being a part of the local business community will give you so many advantages, and it’s never too early to start networking. Find out where the local business entrepreneurs meet each other, and see if you can go to business breakfasts or coffee mornings. Even if your business hasn’t started yet, you can pick up some handy hints, meet some potential new clients, and maybe even find some local suppliers. Networking is one of the best things a new business can do, and it’s worth taking some time out to go to events.

When a business is in its fledgling stage, it’s important to do all you can to make it a success. Even if you’ve not officially launched your company, you can still do plenty to start building your following, as this will help to make things much more successful. From letting locals know that your business is opening, to becoming part of the business community, you can do lots of things to promote your company before it launches. This can be offline, through making flyers and networking, or can be online, by pushing your company in the search results or registering with a top name directory. You then have a much greater chance of success in the short and long term.