18.06.2008 Kick Start your Business Now -

Top 6 things to do to ensure your business is onto a good start – Business Advice from BCC Ltd

1. Plan, plan, plan – make sure you get a good plan of what you want to do down on paper. What you want to sell, how you are going to sell it, where you are going to sell it, etc. this is the beginning of a business plan. Show it to someone whose advice you trust and sound off on them. If it doesn’t make sense to them then it won’t make sense to your potential customers.

2. Research – carry out research into your desired market to establish if there is a demand for your product at the price you want to set it. This will enable you to refine exactly who you are going to sell to. It will also help you to avoid the over assumption of how large your market is. 

3.  Focus on the bottom line. Your turnover figures might be fantastically high but if your expenses are equally high leaving you little or no profit you will be dead in the water in no time.

3. Keep an eye on the competition. Always watch out for new developments in your industry/sector and what the competition are doing. That way you can always be one step ahead of them 

5. Constantly review your plans. Business plans are not static documents to be filed away. You need to review and update them regularly as you go through the life of the business. That way you will know if you are meeting your original objectives set or if you need to change your objectives in light of new information, legislation, etc.

6. Know your limits. Take independent, external advice from experts such as accountants, lawyers or business advisers. It may cost you a little bit but it will yield more return on investment than if you spent your valuable time trying to figure things out yourself instead of running your business. Don\'t assume you can do everything yourself - the most successful entrepreneurs know when they need help and don’t try to be ‘Jack of all trades’!