Once you have decided your business name you can start to think about your missions and values. Whilst these may be something you already know, writing them down and putting them into your business plan will make the whole process feel as though it’s starting to come together. Your mission and values will be something you’ll strive to achieve throughout your entire life as an entrepreneur, so it’s important you review them whenever you see fit.
Do You Have Any Goals?
Setting goals as a business are incredibly important if you want to succeed. Whether you want to set personal goals, financial goals or overall business goals – physically writing them down and creating a step by step plan to achieving them is the best way to ensure you’re hitting them year after year. When you first start out, consider setting goals for 1 year, 2 years and 5 years. If you really want to plan ahead, writing your 10-year goals could really help you gain clarity about what you need to do as a business.
Do You Have Enough Finances For Your Start-Up Costs?
One of the most important things you need to consider before you start your business is whether or not you have enough finances for start-up costs. Whilst it is possible to start a business without start-up costs, having money available in case of emergency is the best way to ensure you’re able to survive your first year of operation. If you’re leaving your job to start your business full-time, it is advised you have at least 6 to 12 months salary saved up beforehand.
When And How Will You Launch?
Although not all businesses will have an official launch, it’s good practice to start creating a buzz around your company before you’ve even started. Consider setting a specific date for launch, then think about how you can bring your company into the world in a way that will draw attention to you and start to drum up business straight away. Whether it’s a live social media launch or a launch event, you want people to know who you are so about it from the rooftops.
Do You Need To Consider Any Building Costs?
If you’re considering renting or buying a property to run your business from, you need to consider all of the costs this will incur. If you’re renting a property you need to think about deposits, insurance and rent. If you’re buying or building a property, you will need to think about building costs, equipment hire and planning fees. If you’re looking to save money when it comes to building and equipment costs, you can hire a team who will be able to source everything for you – from cranes for sale to the bricks and mortar. They’ll also be able to ensure the build is carried out quickly and efficiently!
How Will You Use Social Media?
Social media is a great tool for new businesses, and definitely something you should be using to its full potential during your launch. Start thinking about what platforms are best suited to your business and set up a social media strategy for each one, focussing on how you’re going to gain followers and build engagement. Whilst it won’t happen straight away, you’ll certainly notice the benefits as it brings in new enquiries, new business and a high return on investment. For tips and tricks on how to use social media as a startup, you can visit this blog post here.
Will You Be Investing In PR?
As a business that is just starting up, hiring a PR team to create a buzz about your product could be a great idea. They’ll be able to speak to the local press, talk show host and national magazines with the view to feature your business everywhere. Whilst this is a pricey option, it’s a great way to drum up business in your first few months of operation. For a guide on hiring the perfect PR team, you can visit this guide here.
Do You Intend On Using Video Content For Your Launch?
Video Content is currently one of the most viewed forms of media on social media, so fitting it into your launch strategy could be the perfect way to get your business off to a great start. Whether you create a short advertisement or develop a viral video for social media – video content is super helpful when it comes to increasing your visibility as a brand.
If you’re worried about costs, video production no longer required a lot of investment as there are ways to record and edit quality videos from your mobile phone. As long as you have a phone with a high-quality camera, you’re good to go!
Who Will Create Your Website?
Although not every business will require a website to launch, it’s a great idea to get one built in the early stages of your business. As people start to hear more about your business they will head to Google to find out more. If all they find are a couple of social media profiles then the likelihood is they’re going to be out off as they’ll worry you’re not a legitimate business.
Setting up a website can incredibly simple if you’re using something like WordPress or Squarespace, however, if you’re worried about making a mistake, you can contact an agency to create one for you. Whilst this is the more expensive option, you can be sure everything will be done to the highest quality and will be in good working order.
Other things to consider when creating a website include branding and design, content and SEO and navigation and accessibility. For a guide on what to consider before starting a website, you can visit this site here.
Will You Write Your Own Content And Blog Posts?
Now that you’ve got an incredible website set up, you need to consider whether or not you’ll be writing your own content. As the owner of your business, you’ll be the best-placed person to write your website copy, however, if you’re not a natural writer you may find it easier to hire a content writer to help. You’ll still be able to tell them everything you want to portray in your copy, they will just be able to articulate it and make it much easier to digest for new visitors to your site.
Do You Need To Hire Any Staff?
Speaking of hiring content writers, you need to consider whether or not you need to hire any other staff. Although your funds will be much lower when starting out, hiring staff will ensure you can focus on the more important aspects of your business. Even hiring someone on a part-time basis, to begin with, could make the world of difference.
Will You Out Source Any Tasks?
If you can’t afford to start hiring a team right away, you may want to consider outsourcing tasks to experienced professionals in the industry. Whilst this will still cost, you can hire them as and when you need them. This is ideal for creating websites, designing your branding or scheduling your social media. For more tips and tricks on outsourcing tasks as an entrepreneur, you can visit this handy guide here.
What Industry Events Can You Attend And Exhibit At?
Depending on the industry your business is in, you’ll be able to attend conferences and exhibit at events. As a startup this is a great way to start networking with the right people in the industry, getting your name out there in your business’ infancy. The best thing to do is research what events there are in your field, weighing up which ones will be the best to attend based on costs and return on investment. If you’re unsure, try speaking to people who have attended.
Will It Bring You Joy?
Finally, you need to be sure starting your own business is going to bring you joy. Becoming an entrepreneur is an incredibly stressful journey to take and if the rewards are not going to make you happy, you may need to reconsider. After all, your health comes first.
Are you looking to start your own business? What do you need to consider beforehand? How will you prepare in advance? Let me know in the comments section below.