Starting a Business in 7 simple steps. Alex Ritchie
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Название: Starting a Business in 7 simple steps
Автор: Alex Ritchie
Издательство: HarperCollins
Жанр: Зарубежная деловая литература
isbn: 9780007556786
isbn:
Is it important that your business uses a bank with an ‘ethical’ reputation or one which works in ‘charitable’ ways?
Do you need local branches to pay in cash or cheques?
Will your business require an overdraft facility?
Most banks now offer online and telephone banking, which are a must for most businesses these days. If you have decided not to use one of the big high street banks, do check what the smaller banks offer in terms of online and telephone banking.
Key take-aways
Think about the things you will take away from Step 1 and how you will implement them.
| Topic | Take-away | Implementation |
| Deciding what kind of business to run | Understanding my passions, skills and experience will help me to decide what my business will do.Think about the practicalities of running a business. | Draw up a list of my skills, experience and passions.Make a list of the pros and cons for my business idea. |
| Identifying your USP | ||
| Creating a vision and aims for your business | ||
| Choosing a suitable name for your business | ||
| Deciding on a location for your business | ||
| Using networking to help your business | ||
| Financing the start-up of your business | ||
| Registering your business | ||
| Registering for tax | ||
| Setting up a business bank account |
‘Failing to plan is planning to fail.’ — Alan Lakein, author
Five ways to succeed
Use all available resources to help you to research.
Put your best foot forward.
Be completely honest when doing your SWOT.
Understand what your customers really need.
Seek expert advice when you need it.
Five ways to fail
Waffle and use jargon.
Assume you know your market and competitors.
Cut corners when doing research and analysis.
Fail to get the maths right.
Write your business plan and then ignore it.
What is a business plan?
Put simply, a business plan is a set of goals and a roadmap of how you will achieve them. You may be wondering why you need a business plan, especially if you’re starting up a very small business, perhaps with only yourself working for it, and aren’t planning on borrowing any money to finance it. Well, the answer is simple: writing down your goals and plans will allow you to focus more clearly on your idea and spot any gaps or opportunities that you may not previously have been aware of. In addition, it provides you with a written set of time-specific goals for the business to be working towards, allowing you to track its progress. And of course, if you’re seeking investment or a loan, your bank or other potential investors will want to see a business plan and they will be your key readership.
You don’t have to be a financial expert or an experienced strategist to write an effective business plan. Indeed, your first one could be very simple and only a few pages in length.
How to do your research
It’s likely that you’ll need to do some research to complete your business plan. Research is often a confusing area for new entrepreneurs, so don’t be afraid to ask for help.
A good place to start is at the library: try the business section, which should contain useful resources, such as industry sector reference books or databases with information on the size of the market, detailed information on your competitors and market trends. Some cities have business and patent libraries that hold a vast stock of up-to-date reference books and databases on all industry sectors. In the UK, the biggest one is the British Library in London. Other cities throughout the UK and internationally have similar resources; check out the European PatLib network. Alternatively, try the Institute of Directors, which has an international network of branches and affiliates, or relevant trade associations, for example, the Chartered Institute of Marketing. These organizations can help you to get your idea off the ground by providing information on trademarking, intellectual property and in-depth information on your industry sector.
The internet is also a goldmine of intelligence, and there are hundreds of websites providing tools or templates to help you to do your research or write your business plan.
The all-important executive summary
Let’s begin with the summary of your business plan. Although you’re likely to write this section after you’ve completed the rest of the plan, it should appear at the beginning of your plan, so we’ll cover it here.
This is the single most important part of your plan and where you can capture your readers’ attention. Keep it clear, succinct and engaging. СКАЧАТЬ