Setting Up Your Business From Day One

It’s your first step into the business world, and we can see you are already excited. You can’t wait to finally make your mark and create something completely original. But, remember that the route to owning a business will not be easy. There is certainly a lot to take into consideration. You cannot expect starting your company to be simple but with perseverance and determination, you will be able to jump over the hurdles. We have no doubt that the way ahead will soon be bright, and you will be reaching a level of profitability. But before you get to that point you must find the starting place.

1) Formulating An Idea

Your first task as a new business owner is to come up with an idea that you can turn into a profitable venture. We think that the perfect place to start is assessing your skills and strengths, then matching these to a suitable business venture. We advise that if you are starting a new business, you pick an industry where you already have a good level of experience. If you are working for a company, you might enquire whether they would allow you to branch out from their business as a company that is linked to them. If you do this, you will already have a solid footing on your chosen industry. Or, you can consider buying a company that is already established. This is far less of a gamble, but obviously the business will not be your creation.

2) Establishing A Brand

In the beginning, you are not branding your idea, you are branding yourself. What we mean by this is that you must have a suitable understanding of how to market yourself as the potential owner of a new company. This is not as difficult as you might imagine. We encourage you to start off on social networks like Twitter. Here, you can use your feed as a source of information in your chosen industry. By doing this, you will build up a number of followers who could become clients once your business is up and running.

After you have built up a social network, set up a blog and a website. You can use both of these as online ads for your potential new company. Start off by filling in the basic information like the about page and then expand to giving some details about your potential new company. Don’t forget to link your social media to the sites so that your followers can find the heart of your new company.

3) Gain Funding

Once you have begun branding yourself, it is time to claim funding for your business. There are a few different ways that you can do this. You can ask the government to help fund your business. If they believe it to be a worthwhile investment, they will be more than happy to put some money towards it. A new, strong company is good for the country’s economy. Or, you might find luck on crowd-funding websites such as Kickstarter and crowdsource. These are useful tools for gaining the support of a large number of followers. But, lately they have been taken over by celebrities and people who just want more publicity for already fully funded projects.

You may also want to consider limiting the amount of money that you ask for. Potentially, you can do this by finding other sources of funding for certain aspects of your company. For instance, rather than asking for funding for your premises you can take out a commercial mortgage. You can compare commercial mortgages through businesscomparison.com.

4) Start Marketing

Once you have got the funding, it is important that you start marketing your new company immediately. You must make sure that your business is at the top of every list as soon as it is announced, and marketing is the way to do this. You have already begun by joining social networks, but there is so much more you can do. For instance, you should certainly invest in a good SEO service. This will ensure that your business is found by consumers and that you do gain interest online. You should then look at improving your website and making it more presentable, perhaps by adding a logo. Don’t forget that when it comes to your business making an impression, perception is everything.

We hope you have found these tips useful for starting your business. Good luck with your new venture.