Saturday 17 April 2021
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12 Steps To Setting Up A Business



Starting a business is something that most people consider at least once in their life. However, crossing the business minefield is often too daunting for entrepreneurial spirits to face.

It’s a dangerous game out there but if you’ve got the right plan then there’s no reason you can’t make a success of it. Here’s the basic steps to making your company work.


  1. Decide You Want To Start Working For Yourself


Wow, that one was easy. Be prepared for much harder steps in the future.

  1. Consider What Type Of Business You Want To Run

This is one of the most important decisions you’ll ever make. Presumably, you’ve decided to quit your normal job because it doesn’t make you happy. Following your passion will.

  1. Make Sure It’s Viable

Passion will be the driving force behind turning your dreams into reality but it is still crucial that you look at the venture with honest eyes. Taking risks is fine, but walking towards a dead end is not. The key here is to be truthful.

  1.    Do Your Market Research

Is there a gap in the market for you to exploit? Knowing what’s on the market will give you great ideas of what works and what doesn’t and should form a significant part of your business plan.

  1. Secure Funding

Your idea for success is a great start but you will need financial support to turn those dreams into reality. If you don’t have the capital to fund it yourself then you may want to look at taking out a business loan.

  1. Register The Business

You’ll also have to register the business before starting to trade. If you are new to this then seeking professional advice may be wise.

  1.  Acquire Your Licenses

Depending on the nature of your business, you will need certain licenses before carrying out your practice. A lot of these certificates can be earned with relative ease. For example, you can take the nsw responsible service of alcohol course online in order to get the paperwork needed to distribute booze.

  1. Obtain Premises

In today’s world of technology, you may not even need to do this step as it is possible to run your small startup from the comfort of your own home. However, if workspace is required for the company then now is the time to start.

  1. Hire Staff

Another aspect that may or may not be relevant depending on the size of your operation. Even if you don’t need to hire full-time staff, you may want to consider using freelance services to get help with specific tasks. It’s a great way to keep costs down too.

  1.  Produce The Goods

Whether you are manufacturing products or simply selling them on, this step is the most vital if you’re business is to be a success. As long as you keep your team motivated and on task, you’re sure to complete this task efficiently.

  1.  Start Making Money

Sell. It’s the most important word in the whole business venture as you can’t make any money without sales. Quality products, strong marketing and a slice of good fortune will all go a long way to helping you here.

  1.  Enjoy