Are you a Entrepreneur?
First thing you need is the idea, is your idea viable??
Five in six businesses fail in their first year so getting this right is important. Follow a simple process and it will work.
Think of your business just like your buying and selling a house. You aim to get the best off the market. You will put your 100 percent effort into making it look appealing. You want it to be a worth while investment.
Think about is there a demand fore your business. Once set up, will it actually make money from customers.
If your business is not what the people want then it will not work.
Research your competition, if other businesses are doing what your doing decide how you can do it better.
What is your unique selling points (USPs) meaning does your business stand out from the rest. The more unique it is the longer it will last. Also something different to is always a attraction for customers weather its a service or buying.
These important things are needed to considered before officially setting up a business.
Next important thing is you need to research is the suppliers and distributors, so you know how easy it is to get the materials and products you need and how much those items will cost.
After all that research its time to think of a business name.
Mind Map a whole heap of possible names and pick out 10 – 20 favourites. Make sure its catchy and unique, ask your self would you be attracted by the name.
Google the name to see if anyone else has them, but the best way is to search companies house to check the name officially. Once you have decided the name fill out the forms and buy the name. Companies House website gives you the steps to buy the name.
All that hard work done, Now its time to think about the financial side of the business.