Friday, 6 December 2013

Starting a Business : A Simple List

Your core business idea. 
Your competitors. 
Your customers.
What are your bare minimum tools and supplies to get started? What does your ultimate start up look like? 
Look at what is in the market currently. 
Are there a lot of business already in the market? 
What can you offer that's different? 
What do you need to do to make it all work?

Protect & Secure.
You have gone and picked a great business name for your new business, now you need to get it legal. Register your business name with ASIC and while you're at it, make sure you secure the following:
> domain name,
> email address (get a web based email that is not reliant on your internet provider)
> Facebook, Pinterest, Twitter, Blog
> Any online platforms that you might use to sell (eg Big Cartel)
Get money smart! 
Money management is only a problem when you don't have set systems in place. Establish a system now to track your expenses and income so you have a true account of your financial position. There are some great tools out there to take the pain away. The Australian Government has got the app Track My Spend and there is also Invoiceable (just for invoices) and WaveApps is a good option for an all round solution. You don't need a specific program but if you think this is an area you might neglect perhaps getting something to make it simple would be a wise decision.

Where to Sell?
How are you going to sell your product to your customers? 
Will you attend local markets? If so, do you need insurance? 
Will you be online? Yes? Where? 
Research your options and decide which selling platforms are best for you. While it is easy to get out there try to use this start up time to consider all options and decide what is best for you in the long term. You don't want to be "stuck" in a situation because you're concerned your customers won't follow you if you move. Think it through.
Start to build your social media presence, build up to a launch with sneak peeks and networking. Get the conversation started about you and your great product. Be fun, exciting and stand out from the crowd. 
Remember that social media is SOCIAL there are certain unwritten protocols for behaving online. I suggest you read this article on some of the mistakes that people make on Facebook Pages. I would also suggest you set link your Twitter account to Facebook so you "tweet" when you post in Facebook.
Find Support.
Get yourself a support network. Running a business from home is hard work and you need people who will support you and inflate you! You need people who you can trust to bounce your creative ideas off. You might be lucky enough to have a very supportive family but do they really understand the ups and downs of a creative business at home?
Consider joining online communities of like minded creative people. There are a few Facebook Groups which will serve you well though I do recommend that after the initial set up you try to set time limits on your Facebook time so consider a couple of "off Facebook" options. There is our very own handmade mastermind in The Handmade Business Network. There is also the Amazing Biz + Life Academy. I am a member in the Academy and I facilitate the Network.

This article has been expanded from the version that appeared first in  One Thimble. If you bought the e-zine there is a code to receive an additional 6 months membership when you join The Handmade Business Network.

1 comment:

  1. After you read through the comments associated with Big Idea Mastermind team people, you may simply notice the great feats them to could include because of their mastermind friends.


Join the conversation (or start the conversation) share your thoughts with me.