5 things to consider when starting your own business
If you are thinking about starting your own business, you’re probably feeling quite excited, and maybe a little nervous. There are lots of things to consider before you begin so try not to rush into anything too quickly.
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1. Make sure you’ve set up the finance side of things-make sure you’re tracking all of your expenses (more on that here) and you register with HMRC.
2. Consider outgoings as well as potential income- there’s the stock, the premises, and staff if you need them. Take a deep breath and invest in a decent notepad so that you can write all this down, along with any ideas that pop up out of the blue. In order to save some money, it might be worth investing in value when it comes to dressing your business premises. For example, if you’re starting up a restaurant or bar, then these restaurant tables are the type of high-quality furniture you’ll want to spend the money on in order to save it in the future.
3. The logistics of your business- such as your target audience, your company name and logo, and your fee structure. I’d recommend joining a members group The Independent Girls Collective-as they have lots of resources on this topic.
4. Next up-how will you market your business? Without any form of marketing, you can’t expect people to find you. The type of marketing you’ll need to cover is things like social media, visibility on google and help with SEO. You might need to consult a web design agency for some support with your online presence, as you will need an optimised website that appears in Google’s search engine results page.
5. If you are conscious of the environment, you might be wondering how you can operate your business in an eco-friendly way. As well as reducing your carbon footprint, running a sustainable business is also likely to help you save money on resources and utility bills. For instance, if you are careful to make sure all technological devices and lighting in your office is switched off at the end of each day, you will save energy and reduce your bills. What’s more, if you are conscious of your printing habits, you should be able to reduce paper and ink waste.
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