10 Things To Do Before You Start Your Business

If you are thinking of starting a new business, or if you are just about to take the plunge, you will know that there is a lot that you have to do. But where do you start? It is a good idea to get some of the groundwork done before you start, possibly this will often mean things that you hadn't thought about, things that most people do as a reaction to circumstances rather than as a planned activity. However, in practice you will almost certainly find that it is easier to set things up right at the beginning, so that systems grow with the business, rather than find yourself "firefighting" later on.

Here are a few things to think about and do, before you dive straight into running your new business. Get the foundations right and you will be well on the way to a successful business.

This is by no means an exhaustive list, but should be enough to start you off.

1. Think about your goals. What are you setting out to achieve? Write them down. Did you know that only 3% of people have written goals? ..and did you also know that these people earn up to TEN times more than people without written goals!

2. Why are you setting up in business? What do you ultimately want from your business? Write down your exit strategy. Do you want to sell eventually or pass on to your family? Are you aiming for big profits, to create a 'name' or just fulfil a need that you have identified?

3. Find a good accountant, someone who is proactive and forward thinking. (See "10 Things To Ask Your Accountant")

4. Find a mentor. Either your accountant or other business advisor, someone in the same field who has done it already or perhaps someone from the local enterprise agency.

5. Research your market. Make sure there is demand, do people want what you have to sell? Also check pricing and packaging options, what would people pay, how do they want it delivered and with what choices?

6. Write your Business Plan. It may sound obvious, but lots of people don't do it. There are lots of places where you can find free help and advice, just do a search on the internet, or ask your business advisor.

7. Decide where you are going to work. You have many choices ? at home, in an office, in a warehouse, near to customers, out of town?.. What is right for you and your business?

8. Make sure you know how you are going to finance your new business. Have you plans to survive the first 3-6 months whatever happens?

9. Open a bank account. Keep all your business transactions separate from your personal ones. You will find it much easier to manage ? your accountant will like it too!

10. Read The E-Myth Revisited By Michael E Gerber. It has to be THE book for new business owners.

As I said, this is not a comprehensive list, there are probably hundreds of other things that people might add. But this should give you a good base to start from.

Julia McDaid is a business coach and author, specialising in helping business start ups. For more information on these issues or on coaching for new business owners, see http://www.startupright.co.uk or enrol on Julia's unique Start Up 101 ecourse, where you can go into each question in a lot more depth. Julia also publishes a free ezine 'Secrets of the Successful Entrepreneur' ? to sign up just send an email to ezine@startupright.co.uk

---

How to Hold An Extremely Successful Event - 10 Tips

Every event you hold can be extremely successful. Apply these... Read More

Seven Ways to Improve Your Results with Follow-up

What follows is a bold statement, but sometimes it takes... Read More

Top 10 Ways to Turn Clients Into Raving Fans

Do you find great joy in being a coach? If... Read More

Checklist for Hiring a Private Investigator

Looking for an old friend? Want to know if your... Read More

Top Ten Listening Skills for Speakers

Good Speakers need good listening skills to become Great CommunicatorsSpeakers... Read More

Top 7 Business Tips For Small Business Starters For Online Business

1.) Brainstorming for an idea - You must select what... Read More

#1 Key To Select Right Business Partner

Having business partner or planning to start a business with... Read More

How To Move Your Business Online in 7 Steps

So you have set up your company, fairly established and... Read More

After Hurricane Katrina - Seven Things You Can Do

If you are like me, you are living some distance... Read More

Never Sell Again: Get Repeat Business and Avoid the Need to Prospect

If you're a business owner, you know that repeat business... Read More

Performance-Stress-Motivation: 7 Sanity Saving Business Boundaries

The lack of strong boundaries is one of the chief... Read More

Business Goals - The 10 Commandments

The Ten Commandments of Goal Setting While it's good to... Read More

10 Dos and Donts Of Customer Services

Email etiquette is the key to help calm down anxious... Read More

10 Ways to Develop A Free Agent Attitude

Whether you are self employed or you work for someone... Read More

Wealth Building Scams

I have some good news and I have some bad... Read More

Top Ten Reasons to Write a Sales Letter for Each Product? - Part 2

Authors/publishers are great at getting their books written. Entrepreneurs know... Read More

10 Things To Ask Your Accountant

This is a quick checklist of a few things that... Read More

Ten Tips to Build a Culture of Inspirational Leadership

Leadership, leadership development and leadership training are "Hot" issues in... Read More

5 Tips to Manage and Organize E-Mail

How do you focus on your urgent e-mail and organize... Read More

7 Reasons Why Training Doesn?t Produce the Desired Results and What You Can Do To

Seven Reasons Why Training Doesn't Produce the Desired Results and... Read More

How to Counsel Your Non-Performing Team Members - 10 Tips

Counselling non-performing team members is a tough part of any... Read More

10 High-Impact Viral Marketing Strategies

Viral Marketing is allowing people to giveaway and use your... Read More

10 Tips for Effective Proofreading

Proofreading may not be terribly fun, but it's one of... Read More

How To Finally Unlock Your True Potential And Discover The Secret To Lasting Success

Did you know that there is one critical difference between... Read More

Home Furnishings in India : How to Find an Exporter,manufacturer or Supplier ? Beyond a Database.

Looking for a manufacturer or supplier of home furnishings in... Read More

7 Strategies for Handling Last Minute Meetings

Have you ever found yourself having to scramble to organize... Read More

Ten Tips for Effective Meetings

Here are ten things that you can do to hold... Read More

7 Steps Toward a Better Website

Creating a website is one thing, making it better is... Read More

Ten Tips for Working at Home

1. Maintain regular working hours and stick to them.2. Get... Read More

Seven Steps to Achieving Your Dream

"Vision is the spectacular that inspires us to carry out... Read More

Seven Questions to Improve Your Business, Your Relationships, and Your Life

Seven Questions to Improve Your Business, Your Relationships, and Your... Read More

7 Ways To Get One-way Links To Your Site

One way links will help you gain better rankings in... Read More

Your Leadership Shopping List

'Tis the season to give. And finding the right gift... Read More