When it comes to starting up your own business, there is plenty to think about. The payment software that you are going to use – depending on your business you may need to find the right CBD payment processor – the process of hiring people, how you are going to do your accounting, what website platform are you going to use etc.
Try to plan everything as far in advance as possible. Create a spreadsheet and put a tick sheet together to reduce the chances of things being missed. If you have a friend who has their own business, get in touch for advice and show them your tick sheet and see if there is anything they think you should add. You could also search different CEOs and see what advice they have within the article they have published. Remember, you aren’t going to get everything right, but the more prepared you are the less stressful it will be when it comes to launching.
Here are our top steps to start up a business
Hiring people
Depending on your business, you may need to hire people. Hiring people is a big job and if you do not do it correctly you could waste money on training the wrong people. Spend some time advertising your job roles in the right places. If you can, it may be worth using a recruitment agency and getting them to recruit for you – this way you can concentrate on other areas of your business. You aren’t under any obligation to take on any recruits that they source for you. If they aren’t right you could use a different agency or ask them to look for other people who are more suited for the role.
Your accounting software
Your accounting software is very important as this is what you will use to keep track of your finances. Your accounting package will help you with your invoices, your expenses, payroll, and reporting and your accountant will use it for your end-of-year accounts. There are many different types of accounting software out there, so make sure you do your research to make sure you get the right one. If you know the accountant you are going to use, it may be worth reaching out to them and seeing which ones they would recommend. Remember, the monthly payments you make for your accounting software can be expensed on your expenses.
Researching insurance products
As a business you will most likely need a variety of insurance products to make sure you are protected should something go wrong. This could be public liability insurance, property insurance, cyber liability insurance, employer insurance and more. Which ones you go for will vary depending on the type of business you run. Make sure you do some research into them to make sure you are covered for everything your business needs.
What tips do you have for starting up a business? Are there any steps that you would like to add to the above? Is there anything you would like to share that will benefit our readers? Let us know in the comment box below.
