SETTING UP A BUSINESS

Top Tips for Starting a Business

After reading today that business confidence is back at 2007 level, Starting a Business should be high on the agenda. There is fresh evidence that the UK’s economy is starting to recover from the past few years financial crisis, and why wait for a new job to come up when you could start up a business and employ yourself tomorrow. But for many this is a dilemma and here is some top tips on how to start your very own company.

The honest way most entrepreneurs will tell you is that anyone should give it a go, and if it fails then try something else. Not everything works, sometimes you can find something niche and get lucky, but other times finding something to do as a business is harder to pin down, but simply taking an existing business model and doing it better can sometimes be an option.

We are in a recession, should I wait to set up a business?

The truth is any business setting up in the harder times can be tricky, but look at it on the flipside, after the downturn things can only get better. You can use all of your gained experience you have learnt in these times to give you an advantage later on in your business. Then also when it booms again, the knowledge of poor times will keep you focussed.

Is there a business idea in front of you, but you just can’t see it?

Sometimes a business can be staring you directly in your face and you may not even know it, just look around you there is probably something you need, that simply isn’t out there. It is true that it is the niche businesses online and in the retail shops that can do very well. Or if you can’t find something to start with, then go out and look around the high streets, ask people questions, go to the universities and do research, research and more research. Once you find something then go out 100% on it, and enjoy starting up a business.

Getting all the correct business tools for the job

Building any business from the ground up can be very exciting, and luckily nowadays most of us have all the tools need for the job at home for example; paper, pens, computers, printers, phones and broadband connections are a good start and are the basics. Even if you need computer software, most companies give out a free 30 day trial; this will work great to see if it works well for your business and also gives your 30 days to boost your cash reserves. The biggest mistake most businesses make early on is either spending too much from the outset on expensive and unnecessary goods or simply doing too much too soon. A typical example of this is what we once heard someone say, they honestly believed that they needed professional equipment to become a quality car cleaner! The honest truth is that all you need to get started is simple bucket and sponge from the local diy shop costing only pence and pounds. Then simply charge a low fee until you can buy a better soap, sponge and wax. Just get started make some money and invest some back, business is actually quite simple.