Business Startups

There are many generic resources available to entrepreneurs wishing to startup their own business. They can get business advice from friends and family, particularly those who might already be in a business. A good source of advice can also be potential suppliers to your business. Suppliers obviously deal with other businesses that are in the same industry as you’re planning to enter, and can have a good idea of business trends and potential competition that can be invaluable.

Approached correctly, your competitors can also prove to be a great source of business advice. We’ll have more on this area in our next article.

If your business is in a specialized or niche field, think of similar businesses that are more generalist and do not have the specialisms that you are targeting or are an integral part of your business. It is worth talking to those businesses and establishing collaborative arrangements which help both parties to attract more business. This is another way of gaining insight and intelligence on the market and potential for your business.

Of course, you should talk to some potential customers to gauge if your business idea is going to bear fruit.

It is worth talking to Business Link in your area, who can also advise you of any financial or other assistance that might be available to you. Talk to your accountant. A good accountant will probably have some experience of other businesses in your field, and can offer sound advice on financing options and how to set-up or structure your business entity. They will also guide you through all the formalities required such as relate to VAT and HMRC – Inland Revenue. Usually, most accountants will not charge you for a first consultation.

It is worth bearing in mind that many businesses are started from a business idea, or knowledge of a particular field gained in employment leads one to start their own business. In many instances, while technically qualified, entrepreneurs have little experience of marketing. Not just theoretical stuff or tips you may pick up from a variety of sources, but actual practical things you need to do. An example would be should you advertise your services or direct mail. Or telesales. Where do you get a list of potential customers. What kind of potential customers you could be targeting. How to assess response rates and refine your next list. If you are distributing flyers, where to get them designed and printed so they have maximum impact at the lowest cost. It is best to talk to a professional company when you start your business. This will save you a lot of cost in time and effort compared to doing it yourself and learning as you go along.

With the explosive growth in online, it is worth investing in your own domain and website. You can showcase your business and products and provide targeted information to potential customers that will help them convert to buying customers with greater ease. There are a plethora of website builders out there. Be aware of some of those who may offer a cheap deal today, but are nowhere to be found when you need changes made to your website. Ensure that your website builders have an understanding of marketing and can create a site for you built from your visitors and customers perspective. Don’t get tempted by wizzy technology that gets in the way rather than complementing the purpose of your site. 

You can talk to Reach Marketing who specialise in marketing support for small business.
You can talk to the web design team at Life Media Online Ltd for affordable websites built with your business in mind.

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