Business Startup Tips (part one)
So, you have a fantastic idea for a new business venture but not sure what to do next? There is so much research to do, so many choices to make and so many decisions for you (and your family) to consider before you take that leap.
In a three part blog series we break down those important things that you need to consider before you jump in! Part one dives into the foundations of your business plan...
There are questions to think about... and you need to be honest with yourself when answering!
Get Honest
Putting together a business plan is a crucial aspect to see if your business is a winner... or a potential stinker!
First things first is to consider keeping your current job whilst you go through this important stage of planning your business. There are questions to think about... and you need to be honest with yourself when answering!
Do you have sufficient funds to get started?
Do you have all the necessary equipment? If not, what is the minimum that you need.
Have you researched your competitors?
Are your finances aligned so you know what you need to survive your launch? Include both business and home expenses here!
Have you asked for honest feedback for your business idea from family, friends and even trusted colleagues?
Do you have the necessary qualifications to start your business?
Plan for success! Answer these questions honestly, do your research and use this criteria to lead into making an early version of your business plan.
Read part two and part three of this blog series as we go into more detail about how to write your business plan...
