When an individual or group starts to think about putting an enterprise together, they often have passion and excitement in bucketloads, but a somewhat more modest quantity of nous. If only they’d had to hand a short and invaluable list of key factors that any new business person should take on board. Hang on – here’s that very thing.
It takes a Notion to Cause a Commotion
OK, this one’s not overlooked as often as the rest, but it bears spelling out. It’s boom time for start-ups. 2021 saw the highest number in the UK for a decade. What most of them had in common is a good idea.
It might be a mind-meltingly original idea that blows a battery of metaphorical fanfares every time you think of it. But it doesn’t have to be this revolutionary. It could simply be an observation of what another company’s already doing, plus a significant tweak.
The important thing is that you’ve got a good idea of how to apply a product or service to a given market, ideally better than any others are currently doing it.
You Know You Can, Now Come Up With a Plan
So, you know what you’re going to set about doing. The next step is creating a clear and coherent plan that gets the concept across to others.
Sometimes, a start-up entrepreneur has such passion that they think everybody in the room will be simply bowled over by their enthusiasm. Regrettably untrue. Sometimes, just like an overzealous missionary, a pumped-up pioneer can find that a surplus of eagerness is their undoing.
So, what you need to do is to draw up a soberly written business plan that sets out the central mission as well as describing its intended development over the next few years. You’ll never get funding without one. While we’re on the subject…
If You Don’t Have the Dosh, it Won’t Wash.
Get your funding in place. Enough said. If you’re stuck, try crowdfunding.
When It Comes to an Ad, Don’t Just Think Trad
There’s a whole universe of promotional opportunities out there, from printed leafleting to incredibly exciting digital Out Of Home advertising. You’ll be able to find help with all manner of promotional techniques online – for example, regarding OOH in particular, you can try the Clear Start Programme.
Get the Gear or Get Out of Here
It’s important to invest in the right equipment. Ingenuity can only get you so far when your laptop’s a wheezing smoking wreck and your desk would be more accurately characterised as your lap. Ensure that you have realistic equipment expenditure built into your business plan.
Need a Mend? Call a Friend
Nobody has all the answers, especially when it comes to start-ups. You’ll inevitably come up against some hurdles that, try as you might to clear, will snick you smartly in the gusset. This is where you need assistance. So, make sure whatever systems you use carry good support, and think about getting a mentor (they help startups grow 3.5% faster).
You’re in the Know, so your Start-up’s a Go!
This isn’t an exhaustive list, but it does cover some common failings in the hope that when it comes to your time, you’re good to launch.
