Things to Consider When Setting Up a Business

*This is a sponsored collaboration

Over the years, whilst being a stay at home mum, I have tried my hand at starting up little side hustles here and there for extra money – mirco-businesses if you like, that have brought in much needed cash at the time. I am always full of ideas and like to think that I am rather savvy and business minded. Realistically however, despite being hardworking and ambitious, I have often become bored quickly and have not always been up for the sheer amount of work involved in running and maintaining your own business – however big or small. 

If you are considering setting up a business of your own, then like I have previously discovered, you’ll be aware that it’s not a simple task and there are plenty of things to think through before you start – especially if you have high hopes for it to grow into something big! Primarily you need to think about the nature of the business and of course your target audience, a brand name, logo, pricing structure (as well as a whole host of other things).

From there you have health and safety, maybe stock, distribution of products or maybe additional qualifications and perhaps further training to consider.

How much will you invest in it initially?

Who are your competitors?

Who are your customers?

How will you manage your time around family or personal life?

How will you market your idea, services or product(s)?

There is so much (and more) to consider and plan for!

Marketing Your Business 

A major make or break for you will rest heavily on attracting potential customers to your company or small business. It will probably take some experimenting and trial and error before you find something that works well for you and your brand, and attracting the type of customers you want. But, there are plenty of web design agencies out there who can help you first and foremost build a fantastic website that will act as a hub for your business. Without a website and online marketing strategies, you will be missing out on a huge host of potential customers and traffic, as so much these days is featured online and across social media. The type of marketing you choose, will of course depend on what exactly your company is offering, but there will still be plenty of options for you out there.

As well as a website, you may want to consider things like external signage, promotional merchandise and PR to boost your presence and advertising.

Office or Work Space? 

When I start my counselling business, I will one day require my own work space to practice, as well as advertising and marketing it to get clients. So, if your idea is going to require you to need offices, work space away from home, or even to employ staff (especially as it grows), then you should consider how you are going to operate this legally and also in an environmentally friendly manner (so that you don’t waste money or make silly errors!). Many offices are guilty of wasting huge amounts of paper for example by being irresponsible when using the printer. Something seemingly minor can easily be rectified and avoided with some investment in a managed print company who will assess the printing habits at your place of work and help you operate in a less wasteful way.

It’s also a good idea to encourage employees to switch off their computers correctly at the end of each day and try to make use of natural light rather than using electricity unnecessarily. Or bringing reusable bottles to work to cut down on single use plastic. 

Shopping around too can also ensure you are getting a good space for a good price. 

When it comes to setting up a business, I am by no means an expert and this article has barely scratched the surface. However, I hope it is a good starting point for resources and things to consider. And, as a side note, it is wise to think about your business from a multitude of perspectives so that nothing comes as a surprise to you – brainstorm with friends and family and see what they have to add to your ideas!

All the best with your ventures and growing your idea into a flourishing business – however big or small it maybe.

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