If you are a budding Steve Jobs who thinks they have a brilliant business idea, this could be the start of something big; however, before you start putting things together, there is a lot of planning to do. Before doing anything, you do need to crunch the numbers to see if the idea can be turned into reality, and with that in mind, here are a few essential tips to help you navigate your way to success.
- It’s all about your business plan – Some entrepreneurs think that a business plan is to show potential investors, when in fact, the business plan should be an essential guideline for the business owner. If you have never written a business plan, there are lots of free resources on the web to help you with this. A comprehensive business plan would contain an overview of the business, startup and running costs, a section on marketing and forecasts for at least the first 3 years.
- Consider used equipment – Why pay top prices for new IT equipment when you can find a second-hand store that sells reconditioned PCs, tablets and peripherals; the ideal supplier for refurbished smartphones is Mobile Federation, where you can buy used iPhone and Samsung models at fair and affordable prices.
- Don’t forget digital marketing – While you want to save money on a business launch, you should not overlook digital marketing; talk to a leading SEO agency and ask them to compile a digital marketing plan that incorporates SEO and social media marketing. Word of mouth simply isn’t enough for a business launch; you can organise a live event and stream it to your Facebook page.
- Make best use of available technology – Do you know about virtual office services? This is an inexpensive way to acquire a prestigious office address in the CBD part of the city, while you can find sector-specific business software that eliminates double handling. Use VoIP for all business communication, which is much cheaper than using telephone networks; real-time video allows you to collaborate with your team without being in the same location.
It has never been easier to set up a business and we recommend talking to a business lawyer at the very outset, which should help you make the right choices. Spend time on your business plan and find someone to play devil’s advocate to try and find fault with the plan, which can be amended to incorporate new points.
