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What’s your business going to do?
- Be clear about what your business will do, the products or services it will provide, and how customers will access them (in a shop, online or by phone).
- How will you deliver your product/service?
- What is your approach to pricing?
Who are your customers?
Make sure you know who will be buying from you:
- Are they young people, or older?
- What do they do, what are their lifestyles like?
- Do they already buy the product/service you have? What will they think of your alternative?
- Why will they buy from you and no one else?
- How will you tell them about your business?
Answers to these questions will help you promote your business.
Find out more about marketing your business
What’s in a name?
The name you choose for your business should reflect the image you want to put across. Pick one that’s easy to pronounce and remember. Make sure it’s not already in use, and is available as a web address, and imagine how it’ll look on your business stationery.
Will you need staff?
If you take people on, even part-time, you’ll need to be familiar with employment law and have an understanding of how to get the best out of them.
Find out more about managing staff
Writing your business plan
When you write your business plan, remember to be clear, realistic and concise. Use research to back it up and include an action plan. And bear in mind that you can adjust your plan as it develops.
For help on choosing where to base your business, go to Location is everything.
Will it work?
Find out if your idea is workable and whether running your own business is right for you at our free Let’s Talk Business Ideas seminar. Find out more .
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Once you’ve done your research, it’s time to start planning. Here are some tips to get you thinking.
