Business Start-up Advice
Getting your startup marketing wrong is one of the main reasons why start-ups fail. The key to making your marketing a success is understanding the difference between strategic marketing and promotional marketing. Strategic marketing is the foundations of your plan. Here you assess your market and plan how you will reach that market. Promotional marketing is the actual execution of your …
Whether its by force or choice, you may have to start your own business at some point in 2021. Over 500,000 new businesses were registered in the UK in 2020. The number could be close to a million if you take into consideration how many unregistered companies are started. This trend is set to continue in 2021. As a global …
There are a couple of questions we get asked a lot. “How to run a successful business?” and “How do we get from being a start-up to being a successful and established business?” We have studied hundreds of different businesses and have identified five characteristics, most of them share. They have a strategic direction and a clear plan for how …
Starting a business is not easy to do. Even if you have an incredible idea, the odds are stacked against you. Most business ideas never convert into a business, even if they do, most new businesses do not last past two years. Don’t let this worry you, most of the business that did not start or failed were destined to …
Whether you are just starting up or an established business, every business has room for improvement. The market is constantly changing if you are not planning to improve and grow your business; you are just stagnating and risking sustainability. This is why the stock market value of companies crash when they announce lower than predicted sales growth. Growth is a …
Writing a business plan is a challenging experience for many entrepreneurs. Even if they have a great idea, they fail to start the business or get funding – mainly because, to put it nicely, their business plan just plain sucked. Writing a business plan shouldn’t be a daunting experience, it should be an exciting document where you put together all …
Explaining how much money your business will make is a crucial part of writing your business plan. Let’s be honest, unless you are a charity the main reason you are in business is to make money. If you are preparing a business plan for investment or funding, you will have to explain when you will start making money and …
Effective business planning is all about looking into the future. In your business plan you must be able to predict the future and ensure your business is best placed to survive, and if possible, thrive. As difficult as this sounds there are a few tools and techniques that will help you plan for the future. The most widely used business analysis tools …
One of the most frustrating aspects of starting your own business can be raising finance. You have to rely on other people and organisations such as business angels, banks or governmental institutions to fund your business. This can take time and ultimately lead to your business never starting up. It doesn’t have to be like this, there are options out there …
The last economic crisis had a profound impact on how entrepreneurs and business owners finance their business and write business plans. The post-COVID-19 economic recession will have a similar impact. Banks have been reluctant to lend money to start-ups without them offering significant collateral against the loan. Despite all the publicity that they are lending more money than ever banks …
