In today’s climate and with lots of financial instability portrayed in the media, it may seem like a tough time to start a business. However, previous historical evidence has demonstrated that businesses who build and withstand the turbulent times, gain strength in the longer-term.
So, if you are thinking as to how you can start a business, but don’t know what types of aspects to consider, then here are some top tips to help you achieve your vision.
Top Tips to help start a Business
- Research and Plan – Carry out market research on both product / service and customer. Understand where there is demand or where there is a gap in the market. Plan how you will start your new business venture and prioritise the stages in how to get it underway.
- Training and Mentoring – Recognise where you may need further skills and seek help from local startup hubs and mentors. Colleges are also a good place to seek further assistance to fill gaps whilst also providing great places to network with likeminded people.
- Find a Location – Whether it is operating online or finding a retail or warehouse premises, it is essential that entrepreneurs understand the costs involved to rent a space and if there is a rates payment requirement. The trick is to start in a small premises and keep overheads, as low as possible and then grow into a larger space as the business expands.
- Keep Focused – When starting a business, it is essential that owners have a plan but also have the ability to be flexible and open to new opportunities. Stay calm when obstacles arise and be open to the fact that employee teams will alter over time and throughout business developments.
JRW Risk Solutions can assist and provide options and guidance to start up businesses / entrepreneurs offering insurance policies from a wide range of insurers for commercial combined, employers liability, public and products liability, motor fleet, commercial vehicles and directors and officers liability insurance.
To find out how we can support you whilst you start a business, please contact our team for a friendly conversation about your requirements.