Starting out in the business world can be a daunting thing, that’s for sure. It doesn’t matter what industry you’re trying to break into – and the size of the business you’re trying to create – you’re absolutely going to come up against challenges… and that’s OK as long as you’re prepared!
Seeing as there are 5.9 million small businesses in the UK, you should know that you’re in good company and that you’re not alone. People just like you have managed to create a start-up business that is now thriving, so stay motivated and do your research.
Here are 7 must-haves that every start-up needs.
1) A solid marketing strategy
A business without a solid marketing strategy (especially a start-up!) is a business that’s going to fail, it’s as simple as that.
Marketing informs your prospective customers about the products and services you offer, and it creates crucial brand awareness. If nobody is aware of your brand, how can they spend their money with you?
2) Quality office space
It’s fundamental you invest in a quality office space to ensure your new venture has the best possible start.
Look for a start-up space that will support the needs of your business at its most crucial stage, such as one that advertises no need for a deposit and a flexible quantity of desks.
3) An experienced mentor
You don’t have to embark on this adventure alone. One must-have we strongly recommend start-ups secure for themselves is an experienced mentor; someone who can advise and guide you when it comes to making pivotal decisions.
If you don’t already have an appropriate candidate in your circle, try attending networking events to widen your net.
4) Business insurance
Don’t underestimate the power of having business insurance, especially when your company is still so fresh in the industry.
Anything can happen, so it’s important you protect your company from unexpected and costly events. Talk to a local broker to determine the right package for you.
5) Invest in a powerful website
Imagine the benefits of having a salesperson who works 24/7 and requires no sleep? That’s essentially what your website is, so make sure it’s powerful.
There are many elements that need to be thought about, such as the design and copy, so invest in an experienced team who will tick all the boxes for you.
6) A great team of employees
The people you choose to represent and work for your business have the power to create your success – or break the company entirely.
As a start-up, it’s important you take time to find a great team of employees who have the right skill set and attitude to help you thrive.
7) A growth plan
We know it might seem strange spending time formulating a growth plan before you’ve even properly broken into your chosen industry, but hear us out… Before starting, you must have a clear idea of exactly where you want to take your business within 1 to 5 years.
While it’s likely you’ll have to amend and adapt your plan as your business scales, a strong idea will help you make positive decisions early on.
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