Starting a Business: A Small and Effective Guide
Nearly three years ago, I wrote a blog post about all the ways you can mess up the start of your business. Apparently, some people are struggling. Therefore, in this blog post, I want to offer you a small guide to starting a business with some effective tips and resources.
Debunking myths about starting a business
Starting a business may seem daunting. Luckily, you will find that it is not all that bad. In fact, many myths exist, which I have debunked in this blog post. First, you do not need a lot of money. One of the biggest perceived barriers to starting a company is the amount of capital required. In reality, many successful entrepreneurs get started with surprisingly small amounts of money.
Secondly, you do not have to start a business in the industry you know best. As you can see in the post, many have gone before you in an industry that was new to them. Still, they had no doubt they had the qualifications and experience to run a company successfully. While confidence is key, do try to avoid mistakes. Find a mentor or advisor to help you.
Finally, being a business owner does not mean you have to do it all. You do not have to know how to do and manage every aspect of operating a business. To free up time that could be focused on bringing in new customers, hire consultants or freelancers to manage tasks that you are unfamiliar with or that are time-consuming.
Have a well-thought-out plan before starting a business
Kate Templeton of BusinessExpert pointed me in the direction of this complete guide to starting a business. When BusinessExpert says complete, they sure mean complete. This article is over 8000 words! Below, you can find the outline of the article, which gives you an idea of all the things you should think about before starting your company.
Starting a business requires groundwork
- Is your business idea viable?
- Swot analysis of your business idea
- Creating a business plan
- Where to get business start-up advice
- Finding a business mentor
Planning and registration
- How to set up a business
- Limited company, partnership or sole trader
- Registering your business
- Business licenses and permits
- Finding a business location
- Choosing a name for your business
Tax, insurance, and employees
- What are a company’s accounting obligations?
- Setting up a business tax account
- Business insurance
- Business support
- Hiring employees
- Apprentices & trainees
- What are the allowable costs for employers, including listing the items that can be tax deductible expenses?
- Tax relief & incentives for business
- Employee payment
- Funding your business
IT and marketing
- Setting up your business’s IT system
- How to make the business profitable
- How to set up Google My Business
- Building a website
- Paid advertising and social network accounts
- Keep your data safe
I do want you to keep in mind that the things on this list might be different in your country. For example, I’m from the Netherlands and step 2 under tax information goes differently here from in the UK.
Starting a business with international dreams
Let’s say you are starting your business and you intend to go beyond the borders of your country. In that case, you need to consider the whole international aspect too, when looking at the list above. As a professional translator (English and Dutch), I can help you with the international marketing part. Think about your website, your brochures, guidelines for employees abroad, manuals, presentations, and explainer videos. You will need them in different languages. You can contact me at firstname.lastname@example.org if you want to talk about your project. I would love to help.
Also, I have written a lot about (digital) marketing and entrepreneurship, so that might help you. Since you are just starting, you might as well start right with the latest trends from the beginning: voice search.