Thinking of starting a new business? Here’s what you need to know

Startup ideas

Are you thinking of starting a new business? Whether this is something you’ve dreamed of doing since you were a teen, or you’ve simply had enough of your current job and feel it’s finally time to cut the cord and give it a go, it’s a hugely exciting time.

There’s a lot to consider, from your business name to your logo, your company message, stock, funding, premises and of course telling your family and friends you’re finally taking the leap. As exciting as starting a new business is, you need to exercise caution and keep the following points in mind. Read on for what you need to know about starting a new business.

Jump straight into digital marketing

The first few months of your new business will set the precedent for what’s to come, so you must get off on the right foot and at an advantage. This is where digital marketing comes in. If you need guidance then this Birmingham based digital marketing agency can help you get started. From SEO to copywriting, video, email marketing and blogs. Digital marketing is the best way for your business to have a competitive edge over your business rivals, so get started as soon as possible.

Stay employed

While it might be tempting to hand in your resignation and wave that horrible job goodbye, quitting your job right now wouldn’t be wise. You may need your current salary to fund your business and it’s always better to have something to fall back on if things don’t work out, or it takes a little longer than you thought to get off the ground.

Get professional accounting advice

Even if you’re pretty confident with numbers, it makes sense to have an accountant look after your numbers for you. From business tax to corporation tax and everything in between. The system is confusing and the last thing you’ll want to do is make a mistake that could cost you a lot of money.

Be careful of who you tell

Until you’re ready to go, it makes sense to keep your new business idea under wraps for as long as possible. You never know who might want to steal your idea or undermine your current position to your boss, or who might try to shoot your idea down with no real justification. Keep it under your hat for as long as possible.

Come up with a business plan

You won’t get far in business without one. Take some time to create a plan and decide where you want your business to be within the next few years.  

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