Starting a Business in 2017 - A Beginner Checklist

by Startacus Admin

If the New Year has given you the motivation to start that new business you’ve been thinking of for a while, there will be a lot to consider and plan in the coming weeks. We have put together this 10 area starting-a-business checklist to help you a little, rounding up some of our most useful beginner articles on the subject, plus some top content from around the internet.

 

Concept stage

The first step to starting a business is knowing what business you want to start. But how do you go about working this out, and how do you know if it’s a viable idea once you do?

• If you need some business idea inspiration - here are six ways to come up with your ultimate business idea

• And the best ways to to think of ideas for a startup - this step by step approach to help facilitate the business idea may help

• We wrote here about how to determine if your business idea has potential and a few things to do before you get started

• Moo.com has put together a handy flowchart for evaluating your business idea

• You’ll need to know some basics to research before starting a business

• You won’t get too far without putting in some research hours on your business competitors

• If you are looking to create a tech startup - Here’s a closer look at some of the key startup sectors in which you could startup in

• And let’s not forget the reasons your startup could fail! (hopefully not yours of course!)
  
  

Business plan

The good news is that writing a business plan isn’t as hard and complex as you might have been led to believe. It is, however, an extremely important part of your budding business, so don’t neglect it.

• Here’s the first part of our in-depth, 3-part guide to writing a business plan

• Entrepreneur.com has a look at how to make your business plan bank-friendly for funding considerations

• StartupDonut also has a good section dedicated to business planning

Business structure

The question of whether your company should be a limited company, a sole trader, a partnership, etc., is a daunting one to a first time starter-upper (that’s definitely a thing). Don’t let it scare or depress you, but don’t totally disregard the decision either.

• Here’s what Net Lawman had to say to us about why this issue needn’t be a priority from the off

• Limited or sole trader? Here are the pros and cons

• Based in the UK - make sure to take a look at Gov.uk for their links on choosing a legal structure for your business

• Based in the US - Head over to Entrepreneur.com again for a detailed look at the different legal structures

Branding

When you get going, one of the first things you need to get onto is building your brand. This takes various forms, from coming up with a decent business name and logo to how you’ll present yourself to the public.

• Read this step-by-step tips article to help you create your brand identify

• Here’s a handy quick post on the things to avoid when creating a brand name

• Here’s what a brand style guide is and why your startup might need one

• Need a Brand name? Here are 3 creative ways to choose a brand name

• Need a Logo for your Brand - this article has 65 logo design tips to help

• Your Website very much represents your Brand. So think of your business website as your shop window - dress it appropriately...and keep user experience in mind

• Encouraging customer engagement can be difficult - here are some tips

• B2B Brand Building can be key - this article provides some basic tips

• Finally, MarketingDonut has some tips for building your brand.

Finance

What business is going to work without money? Only those based on black magic, we suspect. From startup funding to your revenue model, there’s fiduciary forethought required.

• This is what Ghilaine Chan of Exponential told us about considering your revenue model

• Using industry standards to create a cashflow forecast before you start can be invaluable

• Here are some good finance tips from Entrepreneur.com

• Here are some handy tips if worried about having to manage chasing late payments

• Looking to raise cash - find out the basics of seed funding

• Here’s something to think about when creating a pitch deck to wow investors when looking to raise capital

Location

Are you going to work from home? Rent an office? Find co-working space? Location is more important than just finding somewhere to put your computer.

• Here are some things to consider when seeking office space

• Southcourt Property Services had something to say on the subject too

• We made a list of some of the top London co-working spaces to help you out

• If co-working space is your choice, Frontier has some things for you to consider

• And some more considerations for choosing co-working space from Forbes

Software and tools

Not everyone will have the funds to start off with all the top-of-the-range software needed for conducting all aspects of their new business. Luckily, there are a lot of free and inexpensive tools and apps available to get you going (some of which are top of the food chain anyway). Here’s what we’ve put together for the following needs:

• Market research

• Making your content stand out

• Growth Hacking

• Aiding productivity

• Aiding remote working and collaboration

• Life saving Apps for Digital Nomads

Legal and practical matters

It’s easy to get carried away with how well your new product or service is going to do, how you are going to interact with your legions of customers, and so on, but there are some important practical and legal considerations you can’t neglect.

• Here’s an overview of getting your business ready for action, including managing your expectations

• The Gov.uk website provides loads of the business practicals you’ll need to consider when settting up

• Didn’t come up with the idea alone? Net Lawman discusses intellectual property

• Unsure how to go about registering your UK company? Anna from Quick can help

• Based in the UK - there is some very important information you need to disclose about your business
  

Marketing and sales

Without marketing, no one knows you exist; without sales, you soon won’t. Getting your name out there and coming across well is important right up to the point that you sell your business for billions, but never more than when you’re getting started.

• Creating a marketing strategy is a good place to start

• Make the right impression when you write your introduction emails

• Anna from Quick has a quick rundown of social media platforms and their audiences

• Avoid these social media mistakes that so many make

• Ghilaine Chan from Exponential is back with the ABCs of networking

• We’ve put together some handy tools and resources for international marketing

• Creating a standout newsletter can be invaluable when looking to engage with your client base
  
  
  

Goals and targets

Even while setting up, you need to be thinking of the future. Setting goals and targets can be the key to success.

• Keith from Real Business Rescue has some tips for ensuring your startup can survive

• Here are some tips for setting goals for your startup

• Becky Lodge, founder of Little Kanga, shares some observations following her first year as a startup.

There are a lot of things to consider when starting a business, and it can be daunting. **Of course make sure to also get current and in-person advice too as online articles and guides can become out of date and no-longer relevant, but hopefully these handy beginner articles will help get you off to a good start. Good luck.

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Published on: 9th January 2017