5 Essential Things to Do When Starting a Business

You have just resigned from your previous job to start your own business. You have a great vision but still far from seeing it all come together. While you’re not where you wish to be just yet, here are our suggestions on the essential things you have to do to show that you’re the real deal.

Create a Business Plan and Mission Statement

Organize your ideas in the form of a business plan. Following a tried-and-tested format not only puts your thoughts on paper, it will guide you along the whole thought process as well.

There are a lot of elements in creating and running a business. Being able to identify key factors, as well as plan a “mode of attack” will allow you to have a “Road Map” for the coming months. It will also help you pinpoint the hurdles you have to go through, the level of difficulty of essential tasks, the resources you would need etc. You would also get to see the connection of each piece to the whole picture.

Creating a Business Plan and Mission Statement is not only a great exercise to deepen your understanding of your intended business, it will also help you communicate your vision to potential stakeholders.

 

Build Your Website

Having a well-made website may be considered the start of your “public” operations. While a business plan only stays within your company, a website will allow you to communicate with everyone else. Keep in mind that your website should provide the right “feel” for your customers. It should clearly communicate who you are and what you can do.

Get your own company domain, and don’t hesitate to hire a professional designer to create you website and logo– that investment would go a long way.

Check out the Elevation Partners website.

Use the Right Tools

Sustainability is one of the key objectives of a business. Build a company that can operate efficiently 1. despite having a few people on the team and 2. when there are groups of people working. Ensure that there are clear communication lines, the right processes, the right tools for different functions etc. Invest in tools that can automate the repetitive items, eliminating the chances of error and unwanted costs. Log information through software to ensure that the doesn’t get crippled when a member is absent or resigns.

It is important to note that if you intend to grow, the best time to start using these tools is at the beginning. Migrating from spreadsheets to software is a different battle altogether. Avoid it if you can.

Try tools like PayrollHero for Employee Management, HipChat for Communication, Pipeline Deals for Lead Management, TradeGecko for Inventory Management, MailChimp for Email Marketing, Google Enterprise for Email, File Sharing etc.

Set Up Your Social Media Accounts

Other than making your business “searchable,” these social media accounts can help you generate new leads. If you can’t handle multiple accounts, focus on the most important one. Make sure to generate content that will be useful for your intended market.

More on the topic: More and More People Get News via Facebook, Online Marketing Tools to Better Promote Your Restaurant

 

Have Business Cards Made

There is a lot of debate on how much of a necessity calling cards are. However, if you are a just starting out, we suggest you have calling cards made. Having your contact details written on a piece of paper gives the impression that you are not a fly-by-night company. It communicates that your company exists in a real location and be contacted when needed. 

These are only a few of the many things you need to do, but with these simple steps, you’re sure to be headed in the right direction in starting your own business!

 

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