insideSUSSEX Magazine Issue 06 - August 2015 | Page 89

BUSINESS

EVERY NOW AND THEN EVERYONE GETS THAT ITCH TO DO SOMETHING FOR
THEMSELVES, TO CHANGE THEIR LIVES, TO BE THEIR OWN BOSS. IT’S AN EXCITING
PROSPECT, AND ONE THAT OFFERS THE FREEDOM AND FLEXIBILITY TO ENJOY
FAMILY LIFE, A SOCIAL LIFE, AND MAKE SOME MONEY TOO. BUT NOT EVERYONE
SCRATCHES THAT ITCH. THE ONES WHO DO, LIFE’S ENTREPRENEURS AND BUSINESS
GO-GETTERS, DON’T ALWAYS SUCCEED. THEY DON’T ALWAYS MAKE IT. BUT WHAT
THEY ALL HAVE IN COMMON IS THE YEARNING TO TRY SOMETHING NEW AND BE
SOMETHING DIFFERENT. SURELY THAT’S ALWAYS WORTH A TRY?
STARTING YOUR OWN BUSINESS IS A PROCESS THAT IS FRAUGHT WITH OBSTACLES
AND DIFFICULTIES IF YOU ARE UNPREPARED. BY DOING SOME RESEARCH AND NOT
RUSHING INTO THINGS, YOU STAND A GREATER CHANCE OF MAKING THE LIFE FOR
YOURSELF THAT YOU ALWAYS DREAMED OF.

FIND A NICHE
Unless you can do something totally different to your competitors,
there isn’t much point in starting up a business that’s the same as someone
else’s. It will make it hard to gain customers as they will be used to what
they already know, and you won’t be able to distinguish yourself. You will
need to think long and hard about what product or service you want to sell,
and then do your research to ensure that no one else is doing exactly the
same thing, or if they are, that you can make your version of it special.

should also convey your business message, or at least tell people what it
is you do. And if it means something important to you, then all the better
– although don’t focus too much on that in case it distracts you from the
matter at hand.

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MARKET RESEARCH
This is where many new start-ups fall down since they lack the
information that they would have gained had they done their market
research. This is about talking to would-be customers, getting their opinions
on your product, service, branding, website, customer service plan and
everything else that owning and running a business entails. If you have
an actual product, show the people you are talking to (it could be a basic
prototype, as long as they can touch it and use it). If it is a service you are
offering, find out what your customers’ needs are, and ensure that you
can fulfil them. Talk about pricing, about design, about your competition,
and anything else that your market research brings up. And then use that
information wisely. If it means it’s time to go back to the drawing board, so
be it.

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WRITE A BUSINESS PLAN
Business plans are essential if you want to secure funding from banks
or private investors. However, even if you don’t need or want to borrow any
money to begin with, your business plan is an important tool for you to set
out exactly what you want from your new business, how it should perform,
and where you see it going in the future. It is something to work to – setting
goals is a great way to keep the forward momentum going once the initial
excitement wears off and the hard work really begins. For more information
about writing a business plan, check out www.princes-trust.org.uk where
you can download a simple template to get you started.

Now that you have an attractive, easy to navigate website that is fully
optimised, it’s time to tell the world. Using social media (Facebook, Twitter,
Pinterest, Google+, Instagram et al) to get your name and product out there
is essential. When creating your website, make sure there are links to all of
your social media accounts, and dedicate time to them, keeping them up to
date and interesting.

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Once you’ve found your name, you’ll need to design a logo. Hiring a
professional to create a unique logo for your business will be money well
spent.
WEBSITE & SOCIAL MEDIA
In 2015, there is absolutely no excuse not to have a great looking, user
friendly, informative website that explains who you are, what you do, and
that gives your customers the chance to spend their cash with you. You
don’t have to have a massive budget for this, although you will need to put
some money aside if you want a website that truly stands out from the rest.
How much effort you put into getting your online presence looking its best
is down to you, but bear in mind that it can be directly proportionate to
how successful your company is. Once the website is set up, you can’t just
expect customers to come rolling through – you will need to ensure the site
is optimised (that means that it is easily found through search engines, and
is ideally on the first page of search results). This is another outlay, but one
that is certainly worth it.

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FINANCES
You don’t have to be an accountant to keep your finances in order as
long as you do it from the very beginning. There are things like tax (and if
you employ people you will need to make sure you’re doing it right) and VAT
to think about. Speak to an expert before you begin to ensure you’re set up
and ready to go from the off.

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CREATE A NAME AND LOGO
Although you may think that a business by any other name would be
just as successful, that’s not necessarily the case. You will need to find a
name that is easy to remember, that isn’t too similar to anything else (a
simple misspelling and your customer is on the wrong website, and you are
losing business), and that has a domain name available to match. Ideally it

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