Sometimes speed is important when you start a new business. You might have come up with a product or service that needs to reach the market as quickly as possible. Maybe you’re worried about competitors who might have some of the same ideas. With that in mind, the step by step process on this page should come in handy. You just need to read the information and then get started swiftly to ensure you can capitalise on the current state of the market. Don’t worry too much if you haven’t got any experience in the business world because the strategy you need to follow is simple. So long as you have the right concept, it is possible to get your business off the ground in a matter of days.
Betsy Weber
Create a business plan investors can’t ignore
There is no getting away from the fact that you are going to need money to start your business. For that reason, it’s vital you create an attractive business plan that no investor can ignore. You’ll find lots of templates online that should help you to make a start. Alternatively, you could contact professionals who focus their efforts on that task. Either way, your business plan should contain all relevant information about your operation. It should highlight the amount of cash you need, and how you plan to spend it. You should also include a growth plan and anything else investors might want to know. Ask someone with experience to take a look at your business plan before you contact the bank.
Book an appointment to see your bank manager
You should be ready to speak to your bank manager when the business plan is complete. With a bit of luck, they will see the value in your idea and offer a small loan. Most people think that getting money from banks since the financial crisis is difficult. However, that couldn’t be further from the truth. So long as you have a profitable idea, there is no reason you shouldn’t get the funding you require. Presuming the bank refuses to offer money, all is not lost. There are many private equity firms that might be interested. The only downside to using that strategy is that you will lose a percentage of your company. That said, selling part of the business to an investor with experience could stand you in good stead. You’ll get lots of free advice whenever you need it most.
Alex France
Find the best employees
Finding suitable employees for your business is going to involve a lot of hard work. You have to advertise the positions on relevant job boards and then design a thorough interview process. Make sure you don’t rely on CVs submitted by your candidates to make the decision. Most people write the same things on those documents, and so they don’t give an accurate insight into the individual. It’s much better to speak with them face to face and learn about their personality. Indeed, that is why so many young companies design weird and wonderful interview tactics. Sometimes asking the candidate to play Candy Crush for ten minutes isn’t the worst idea in the world. It could teach you more about the person than anything they could write down on paper.
Pay for professional training
There are sure to be lots of tasks within your business that require professional training. Asking someone without the right skills to handle those jobs could end in disaster. We all know how much trouble injury claims could cause for your company. Most employers now choose online training because it is considered to be cheaper. However, only using elearning may not be the answer in your situation. Company bosses often find that face to face training, alongside online courses, is most effective. At the end of the day, it is easy to cheat when completing a course online. In most instances, your employees will just have to tick boxes to pass. Ensure they get proper training for experts if you want the best results.
Invest a lot of money in your marketing strategy
You want to reach the market quickly, and we’ve shown how to do that. Now you need to make sure the public know your company exists. That task is often far more complicated, and so you need to perform a lot of research. Identifying the best marketing methods for your company requires intelligence and forethought. Bosses who rush into the situation without considering all their options will waste money. You can’t afford to spend a single penny on advertising or promotion if it doesn’t create a profit. With that in mind, you should take a look at the techniques employed by your competitors first. Can you replicate their ideas to get the same results without copying them entirely? Also, professional marketing firms will know how to push your business to the right people. Maybe it’s worth getting in touch with one?
Provide the best possible customer service
Providing customer service is tough when you’re just starting out. You can’t afford to employ a huge team of people to man the phones and answer emails. However, there is a solution that all business owners should consider. Outsourcing the job to firms that specialise in that area could save you a lot of money. It should also ensure your customers get the best service possible when dealing with your business. Your outsourcing partner will take the time to learn about your operation. They will then answer the telephones as if they work at your premises. Your customers won’t notice the difference, and their issues will get resolved quickly.
Following that guide should help you to get your business off the ground fast. We’ve tried to cover all the basics to ensure you don’t miss anything important. Depending on the nature of your company, it’s possible that you might need to add a couple of steps. However, the guide on this page will make the perfect starting point. Now you just need to go out and start putting the wheels in motion. When all’s said and done, it should be possible to launch any new company in less than one week.
