Starting a business is an exciting time for any budding entrepreneur. It is the time where big plans and hopes and dreams can become a reality. Whether you are working alone or as part of a team there are plenty of things to consider.
We have spoken to three entrepreneurs who have gone through the start up process themselves and made their business in to a success. Below you will find their top tips for starting a company:
Oliver (www.element-london.com) – Have a Plan
While this may seem obvious, it is amazing how many people start a business without a proper plan. Although it is true that you need to be flexible and pivot if necessary, having an initial plan is crucial when getting things up and running at the beginning. If you are working with a team it also helps to make sure that everyone is on the same page and not working towards different end goals.
Your plan will need to include the logistical steps that you need to take at all of the start up stages from registering a company, buying a website and creating a brand to more strategic plans such as how you envisage the growth of the company. As previously mentioned this plan can change and indeed it is important that you regularly take time to look at the plan agreeing upon changes where necessary.
Linda (http://www.littledoves.co.uk) – Hire a Good Accountant
A good accountant can make a big difference to a start up. Whilst there is plenty of information on the internet about how you can set up your accounts and be the most savvy with your business, this information will never compare to the advice that you can get from a professional.
When researching accountants it is worthwhile setting up meetings and spending time questioning potential options to ensure that you pick one that you feel confident can offer you the best service. Make sure that you hire someone that is not just a bookkeeper but also someone who has their finger on the pulse to any changes and knows the most effective ways for you to run the accounts of your business.
Tom (seotravel.co.uk) – Take Some Time Out
There is no doubt that starting a business is a busy time and it can be both exhilarating and exhausting for everyone involved. With so much to do and the excitement of seeing things grow it can be difficult to not get carried away and work every hour of the day and night. Whilst it can sometimes feel that this is the only option it is important to take some time off and clear your head. Time away from your desk, with some exercise and fresh air as well as getting enough sleep can often increase productivity and ensure that you don’t burn out. If you are working with other people it is important to encourage them to do the same to make sure that you maintain a happy and healthy working environment.