Small Business Startups
There can be few things in life as exciting (and terrifying) as starting up your own small business.
We share your passion and enthusiasm. Using our many years of experience helping and guiding small businesses, we have developed our own range of services, all designed to help small businesses succeed and "Make Your Business Better".
We'll show you how to avoid some of the most common mistakes and pitfalls which can snag fledgling businesses. We'll also show you how to save time and money, to attract new business customers, look after your bottom line and keep on the right side of all the complicated paperwork and bookkeeping.
For more information please contact us directly.
Prepare.. Prepare.. Prepare
'Give me six hours to chop down a tree and I will spend the first four sharpening the axe.' said Abraham Lincoln.
Get the foundations right, including the dreaded paperwork. Either do it yourself or get someone to do it. Just make sure you do it.
'By failing to prepare, you are preparing to fail.' said Benjamin Franklin.
Time spent preparing is never time wasted. Get it clear in your mind what your business model is. Where are you going? What are you trying to achieve? How are you going to get there? You wouldn't head out on a journey you hadn't been on before without checking out a map or taking the sat nav.
Keep it simple
3 Steps To Getting Started
1. Talk to as many people as possible - discuss and consider the outline of the business
2. Put a basic business plan together - it will let you see if you have considered all the things you should have thought about and lets you work out some basic numbers to see if your business looks viable from the outset before you start spending money. Please don't be put off by the term Business Plan. It is simply a way to bring together all the information you have collected into some kind of order so you can see what you have and what you still need to find or work out. You probably have a folder full of stuff. Also you might have a good idea in your head of what you want to do and how you are going to go about it but if you can't put it down on paper then any mentor or business advisor will be less able to help you and your business
3. Decide on the right business entity for you and your business - seek professional advice
- Business entity
- Business aims and objectives
- Market information
- SWOT analysis
- Premises and equipment needs
- Key people/functions/background
Have you considered all the above? Is there something you haven't thought about? Check it out, it could be important
3 Steps To Preparing A Basic Business Plan
1: The Words - copy and paste the following headings onto a Word document then fill in as much information as you can. If you are not sure about any section, then move on and complete the rest. When you reach the end, the headings that are blank is what you have to go and find out or work out.
2: The Numbers - once you have completed The Words above, you can prepare a simple monthly Cashflow Forecast and Profit And Loss Account to backup what you have said. Use an Excel spreadsheet to set up at least one year, ideally three years figures.
3: Pimp It Up - make it presentable - there are lots of little things that make a Business Plan so much easier to read like using the same font and font size on most of the plan, space out the lines and headings. Wait until you have all the information entered and complete, then tidy it up once at the end.
- Business name and address:
- Proprietor's name and address:
- Business entity: eg sole trader or partnership or limited company
- Business activity: what you want to do
- Business aims and objectives: eg lifestyle business to provide an income for you and your family or business to start, grow then sell
- Market size and growth: main market, initial focus
- Competitors: names, strengths, weaknesses
- Your business: strengths, weaknesses
- Competitive advantage: of your business over competition
- Proposed customers: see market size and growth
- Advertising and promotions strategy:
- Pricing strategy:
- Premises and equipment needs: got already, need to buy
- Key people/job functions/background details:
NB. This is a basic business plan designed for you to bring all the information together in a concise, easy to follow layout so you can see what information you have already and what you still have to work out and find out. It is not for any other purpose. Banks and other lenders will have their own software templates they will want you to use.