How to start your own successful business

by Startacus Admin
Thinking about taking the leap and becoming your own boss? Here are some useful basic tips to help you get started
Are you stuck in a rut? Or perhaps you’re bored of the job you are currently in? Do you have a business idea or side hustle that you are passionate about that you want to take further? If you have answered yes to any of these questions, then now could be a great time to take the leap and become your own boss.
Starting a business does of course come with risks. According to research released by Business Comparison, only four in ten UK-based start-ups survive their first five years in business. Before launching, you’ll have to estimate popular interest in your company, abandon a steady wage, trust your employees completely, and dedicate your personal time to get it off the ground. However, with the right drive, determination, passion, research and planning, you could be able to create a thriving business.
Below, you’ll find some useful tips on how to get started with your own company.
Refine your idea
Before investing any time or money into your venture, you must hone your business idea and consider all your financial options before you proceed. You should also get your own finances in shape. Do you know exactly why you want to be an entrepreneur? Are you clear on why you want to launch this specific business? Have you clarified the big problem that you want to solve? And are you sure that there is a demand for what you would like to offer?
Understand your customers and market
Before starting any business, it’s essential that you understand who your target audience is. Who will be buying your products, or using your services? What steps are you going to take in order to reach your potential customers effectively? Identifying the age of your audience, their gender and geographic location will all help you to determine your target demographic.
Create a business plan
A solid business plan will provide you with a roadmap for bringing your business to life. It will also allow you to identify what your strategy is and how your company will operate. When you have achieved milestones in your company, you will be able to tick things off your list as you go.
Make sure people know your name
Another vital aspect to consider is your marketing. Everyone needs to know that you exist! When you create your business plan, you must also brainstorm how you are going to build your brand. Factor in your branding, your logo and tagline. Ensure that you utilise readily available resources to help spread the word of your company by creating captivating campaigns and sharing them across social media channels. Word of mouth goes a long way too, so don’t forget to ask your friends and family to recommend you.
Are you ready to take the leap and start your own business?
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Got a business in the manufacturing sector? These tips on how you can reduce energy costs while being more sustainable are well worth a read...

Innovative InsurTech startup SureIn announces a €4M Seed round to further its mission of making insurance easy, transparent and hassle-free for SMBs.

Nassia Skoulikariti, Director of IoT Programmes, Mobile Ecosystem Forum shares some insights on how IoT is having a significant impact on all our lives.

Roger James Hamilton, Founder and CEO of Genius Group, a world-leading entrepreneur Edtech and education group, discusses how introducing a globalized curriculum will help better prepare students.

SuperFi, the debt prevention platform, has announced a $1m pre-seed funding round to support people during the cost of living crisis.

41 startups from 13 countries, including the UK, have been selected for the 8th Kickstart Innovation program, one of Europe’s leading innovation platforms.

Personal training platform Another Round has secured £300k in its latest fundraise, including investment from angels and its community.

Thingtrax Secures £4.3M to Empower Manufacturers to Build the Factories of the Future

A measure of inflation relief for small firms sees transport costs fall but service price increases remain elevated

Bedfordshire-based HR tech startup HR DataHub has built a range of tools for HR departments
Published on: 16th November 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- SureIn Secures €4M to Close the SMB Insurance Gap 15th Aug 2023 Innovative InsurTech startup SureIn announces a €4M Seed round to further its mission of making insurance easy, transparent and hassle-free for SMBs.
- SuperFi raises $1M pre-seed funding round 28th Jul 2023 SuperFi, the debt prevention platform, has announced a $1m pre-seed funding round to support people during the cost of living crisis.
- Startups rely on AI & sustainability for new partnerships 27th Jul 2023 41 startups from 13 countries, including the UK, have been selected for the 8th Kickstart Innovation program, one of Europe’s leading innovation platforms.
- Another Round closes £300k Seed round to revolutionise personal training 21st Jul 2023 Personal training platform Another Round has secured £300k in its latest fundraise, including investment from angels and its community.