Setting up a new business can be a little daunting – but there are plenty of resources out there to help you along the way. There are also lots of things you can do yourself, rather than having to hire a professional in. Here are some tips to get you started:
Hire a good accountant
A self employed tax return is arguably something you could do on your own – but once you bring a business, premises, employees and suchlike into the mix, it’s probably better to bring in professionals such as Gram Tax Accounting. Even if you think you could probably muddle through without help, remember that what takes you six hours to work your way through on your “night off” would probably take a qualified accountant less than half the time. Also tax is not something you want to get wrong, and then be hit with a big bill further down the line. Better to use the professionals from the beginning!
Think about marketing
Good marketing is really important, whatever your line of business. Likewise, bad marketing can actually damage your brand. You could start by reading some marketing books and blogs, and there are plenty of free resources on YouTube or even in places like Instagram or on podcasts. You might also decide to hire an agency to help you with that sort of thing.
Think about the law
You might think you won’t need a lawyer for your new business – but it’s better to be prepared, and never to need them than to find that you’re caught offguard and don’t know what to do. This website specialises in workplace law which is a great place to start.
Create a business plan
Creating a business plan is not the same as having a plan in your head, or even sketching something out on a piece of paper during your lunch break! Download a proper business plan template, and dedicate a couple of hours to filling in the details: who are your customers? Where are your customers? How will you market to them? How will you scale your business? What are your expected outgoings during the first few months or year of business? These are all very important considerations which you will need to be on top of if your business is going to function well.
See what you can do for yourself
We’ve already suggested some areas where it’s a good idea to hire in professionals – but there are plenty of other things you can at least try to do for yourself, or get a friend or relative to lend a hand. For example, you could rent a cable lasher from Leaseml.com and take care of this yourself rather than hiring someone to do it. Likewise, decorating your new premises or creating signage are things you can at least try for yourself. You could even try your hand at graphic design for logos etc – but make sure you get a second opinion on your graphics before you spend money on having things printed up! These are all things that can save you both time and money if you have a go yourself first.
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