Business Start-up Checklist

The business start-up checklist covers several areas, both of a personal nature and external factors.

By considering the factors and influencers below, there may be a good change that business success can follow.

Business Start-up Motivation

It is essential that you know why you want to start a business. It might that the prospect of making a fortune is particularly appealing to some; others might see becoming self-employed as a means to greater personal freedom and determination.

Whatever the prime driver for you wanting to be in business, it is important that you know what it is and that you are comfortable with feeding this particular motivation.

Stick to the Knitting

Embarking on a new, exciting business section because you think it could be the next big thing might result in your business start-up gaining notoriety for the being the shortest in history.

Going where your experience lies is the safest option is generally a much wiser choice. Once your business is established and there are funds available to invest, with careful thought, more risky ventures could be considered.

Take Your Time in Business

Sometimes building an infrastructure takes time; there may be the website to design, the printing of stationery and other matters which might be crucial in ensuring business survival.

The pre-trading period can provide a good opportunity to set up support systems which ensure that when the first customer is gained; they are not immediately lost due to poor support or service.

Having said that, procrastination and inactivity will just waste time, money and other resources and you watch the ship sail by. Having a list of key elements which are required before selling can commence might ensure that a balance is struck between rushing in and waiting too long.

Try and Try Again

Even with good planning, unexpected situations can and often do arise. Most of these unfortunately will probably be negative as we generally look at our business blueprint through rose coloured spectacles.

Having contingencies can help when unpredicted events occur and can mean that the business is able to pivot instead of coming to a complete standstill.

In any case, by accepting that there will be drawbacks and that everything will not go according to plan, you can set yourself up and be better prepared to take alternative action once these events arise.

Watch out for Fixed Costs

Business start-ups should generally avoid three year contracts which start from day one. Flexible thinking along with flexible deals can allow the enterprise to adjust far easier if financial pressures become acute.

Exercising caution and resisting the temptation to get the best deal by signing up for longer would lighten the luggage attached to the startup.

In a national and global market place where competition is often causing prices downward, the deal of today might not seem such a coup in eighteen to twenty four months time.