Starting your own business
It all begins with you
You’ve got a great business idea and you’re thinking about starting a
business and you’re determined to bring your ideas to life. So where
do you start? Your first steps are about collecting information and
becoming well informed. So we’ve put together this guide outlining
the elements you need to consider, along with a list of useful resources
to set your business journey on a good start.
Are you prepared for the challenge?
There are a few practical skills like accounting, marketing, time
management and organisational skills that will help you in business.
That said, simply having the right frame of mind will prove to be one of
your greatest assets. Here are a few characteristics you need to get a
business up and running:
Passion – you believe in your business, and you’re prepared to stick
with it through the rough and the smooth.
Drive – you thrive on challenges, and you’re determined to give it all
Vision – you have a clear idea of where you want to be.
Leadership – you like making decisions, and you’re happy to hold
yourself accountable for them.
Objectivity – while you’re confident in your strengths, you’re able to
acknowledge your weaknesses.
On another practical point, it’s a rare case that a business makes
a profit straight away, so it helps to have sufficient savings or
alternative income to live off during the start up period.
Starting your own business section by section
Buying an existing business.
Buying a franchise.
Alternatives to starting
your own business
Does it have potential?
Your business idea
What is a business plan?
Your business plan, section by section.
Writing a business plan
What kind of business structures are there?
Formalities to consider
Do you need to register it?
How do you avoid naming conflicts?
Naming your business
What do you need to organise?
Setting up the business
Who should you talk to?
How much do you need and how do
you get it?