You have a business idea but what do you do next? How do you turn your idea into reality?
Starting a business can seem complicated and daunting - especially if you don't even know where to begin! The excitement and list of tasks ahead may seem overwhelming, but having a starting point and a checklist to follow, means you can gain a better understanding and take the first steps to launching your business.
1. Do your research
Is your idea unique? Is there a market for it? Will people buy it? Do some research into how you are going to sell your product or service and how you are going to make a profit from it.
2. Choose a structure
Sole Traders / Partnerships and Limited Companies all have different tax rules. Do some research and make sure your chosen business structure is the most efficient for you and your business.
3. Choose your name
It's important to choose a memorable business name that is effective. Make sure there is not already another business associated with this name as this could lead to confusion and even legal action.
4. Register a domain
When choosing your business name, you want to ensure that the domain is available. Take a look at domain names online to find one that's suitable for your business. Ideally 'Yourbusinessname.co.uk'
5. Design your logo
Every business needs a logo. You want to make sure that this is unique and professional, so it may be advisable to pay a professional to design it for you. Let them know of any ideas you have in mind and decide on a colour scheme.
6. Market your business
How are you going to market your business - on social media? local advertising? Have an official launch date and organise some publicity. There's no point starting a business if no one knows about it!
7. Build your website
Your website is a crucial part of your business and is the modern version of your shop window. Even if you are not planning on doing business on the internet, potential clients will look at your website and judge you by this. Have a look into working with a web designer to ensure you have a professional looking, well designed website with your chosen wording.
Of course, there are many more elements to starting a business - from opening a bank account to the legal side of things, the list does continue. If you would like to discuss any of the topics in this article, gain further advice about starting a business or would like to find out more about our logo and web design services, call us on 01268 770099.