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Five essential to-dos when starting a business

Whilst there’s many things to consider when starting a business, there’s a handful of essential tasks that will take you from the idea stage to getting your first customer.

  • 1. Know what problem you solve and who you solve it for

    Whether you sell products or services, you’re in the business of solving a problem for someone and it’s your job to clearly understand what that problem is, who has that problem and how you solve it better than anyone else.

  • 2. Clearly define your services/products and prices

    Next, you need to know exactly how you’ll solve that problem for your customers and you can do that by creating a list of clearly defined services or products with simple prices.

  • 3. Register your business

    Now you’re ready to make it official and start taking customers, it’s time to register your business.

    If you’re based in the UK, you can register with HMRC as a sole trader, limited company or a business partnership.

  • 4. Get insurance

    No matter which legal business structure you choose, purchasing business insurance will protect you, any employees and your customers should anything unexpected happen. It’s vital that you secure this before you start selling your products and services. Not only is it peace of mind that so many new small business owner’s overlook, it may also be a legal requirement.

  • 5. Get in front of your customers as quickly as possible

    The final essential to-do when starting a business is to get in front of your potential customers as quickly as possible. Marketing is vital if you want people to know your business exists and pull in customers.

    If you’ve done your research in step one, you’ll have a clear idea of who your customer is and how to reach them – through advertising, social media, networking or partnerships.

Download: Free business plan template

It’s one of the most important business documents, a way to articulate your vision and demonstrate your credentials. Yet, it’s also seen as this scary project that requires lots of work. Well, we want to take the stress out of writing a business plan. Our free downloadable template will guide you on everything you need to include and get your business primed for success. 

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