How To Set Up Your Very Own Business

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If you’re looking to set up a business but aren’t sure where to start – here is a list of all the things you will want to go over before you do anything else.

The idea

You can’t expect to come up with a successful business if you don’t yet have an idea – so get thinking. Don’t expect to come up with an out of this world idea overnight. These things take time. Ideally, you want to find a gap in the market you are looking to be a part of – and fill it. There is so much of everything nowadays, so if you are able to find what is missing, you could end up very successful.

The budget

Setting up a business isn’t free. You will need money to invest in the things that you’ll need. Now depending on the direction your business is going to go, will determine how much money you will actually want. This is why you need to make a budget. Figure out everything that you will need and how much it will cost. Now, look at how much you have saved up. If it’s not nearly enough, then you will most likely have to take out a loan. When doing so, make sure you compare interest rates with different companies to ensure you’re getting the best deal out there.

The brand

Everyone needs a brand that stands out from the crowd, but before you do anything drastic – make sure you’re sure. Changing a brand IS possible, but it risks you losing a lot of your clientele because not a lot of people like change. So try to avoid doing this unless it’s absolutely necessary.

When deciding on a brand, take into account your target audience and what you are actually offering them. Once you understand that, you will find it a lot easier coming up with a name and logo.

The marketing

Marketing is the key way you get your business. If people don’t know about you, how do you expect to make money? There are many software’s out there that give you the ability to attract customers. HubSpot Partner is one of the many ways you can get help and guidance in the marketing department. Another great way to advertise is through social media. Everyone uses it nowadays. That’s how people communicate with one another and learn about what’s going on in the world – making it a fantastic platform for fellow budding businesses.

The money

Once your business is set up, doesn’t mean you can sit back now and rake in the money. If you don’t put in the effort – you won’t earn – so hard work is essential. Never stop trying to get customers, and always look after the ones you have; otherwise, they’ll leave and find something better.

You should also stay on top of all the accounts. You can either do it yourself, hire someone, or even get an app to do it for you. There are tons of software that you can download that will work as your own personal bookkeeper. So never overlook the money you’re getting in and putting out.

Want to  learn more?

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1. Just starting out? CLICK HERE
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To your success,

Vinh Van Lam & Stuart Horrex

Your Coaches ArtSHINE industries