5 things to do before starting your own business
- Attend a start-up workshop: It’s your chance to access a wealth of useful information, meet people in exactly the same position as you and take your first steps towards creating a whole new network of business contacts.
- Carry out research: Research your product or service and also your competition. You should be aware of buying trends and if there is a need for what you are selling.
- Prepare a business plan: ‘To fail to plan is to plan to fail.’ It’s a well-known fact that businesses that have written a business plan are more likely to succeed than those that haven’t!
- Prepare a cash flow forecast: Although this is, at best, a guestimate of what your sales and expenditure might be, it’s a fantastic way to understand whether you have a financially viable and sustainable business.
- Find a business mentor: If you have the opportunity to receive business mentoring, ensure that you use it. You can tap into a whole knowledge bank of information and your mentor will guide you through to your business start.
Our free start up support and business mentoring is provided by our Start-up Team. Call us on 02476 654321 or email: firstname.lastname@example.org to find out more.