10 Things To Do Before You Start Your Business


If you are thinking of starting a new business, or if you are just about to take the plunge, you will know that there is a lot that you have to do. But where do you start? It is a good idea to get some of the groundwork done before you start, possibly this will often mean things that you hadn't thought about, things that most people do as a reaction to circumstances rather than as a planned activity. However, in practice you will almost certainly find that it is easier to set things up right at the beginning, so that systems grow with the business, rather than find yourself "firefighting" later on.

Here are a few things to think about and do, before you dive straight into running your new business. Get the foundations right and you will be well on the way to a successful business.

This is by no means an exhaustive list, but should be enough to start you off.

1. Think about your goals. What are you setting out to achieve? Write them down. Did you know that only 3% of people have written goals? ..and did you also know that these people earn up to TEN times more than people without written goals!

2. Why are you setting up in business? What do you ultimately want from your business? Write down your exit strategy. Do you want to sell eventually or pass on to your family? Are you aiming for big profits, to create a 'name' or just fulfil a need that you have identified?

3. Find a good accountant, someone who is proactive and forward thinking. (See "10 Things To Ask Your Accountant")

4. Find a mentor. Either your accountant or other business advisor, someone in the same field who has done it already or perhaps someone from the local enterprise agency.

5. Research your market. Make sure there is demand, do people want what you have to sell? Also check pricing and packaging options, what would people pay, how do they want it delivered and with what choices?

6. Write your Business Plan. It may sound obvious, but lots of people don't do it. There are lots of places where you can find free help and advice, just do a search on the internet, or ask your business advisor.

7. Decide where you are going to work. You have many choices - at home, in an office, in a warehouse, near to customers, out of town?.. What is right for you and your business?

8. Make sure you know how you are going to finance your new business. Have you plans to survive the first 3-6 months whatever happens?

9. Open a bank account. Keep all your business transactions separate from your personal ones. You will find it much easier to manage - your accountant will like it too!

10. Read The E-Myth Revisited By Michael E Gerber. It has to be THE book for new business owners.

As I said, this is not a comprehensive list, there are probably hundreds of other things that people might add. But this should give you a good base to start from.

Julia McDaid is a business coach and author, specialising in helping business start ups. For more information on these issues or on coaching for new business owners, see www.startupright.co.uk">http://www.startupright.co.uk or enrol on Julia's unique Start Up 101 ecourse, where you can go into each question in a lot more depth. Julia also publishes a free ezine 'Secrets of the Successful Entrepreneur' - to sign up just send an email to ezine@startupright.co.uk


MORE RESOURCES:

US president faces criticism for calling off Denmark trip after he is told Greenland not for sale

The Danish prime minister has said she is surprised and disappointed that Donald Trump has called off his planned visit to the country over Copenhagen’s refusal to sell Greenland to the US.

Mette Frederiksen said the US president’s decision would not affect strategic, military or commercial cooperation between their two countries. She had previously said his Greenland proposal was absurd.

Continue reading...

Rolling coverage of the day’s political developments as they happen

This is from my colleague Jennifer Rankin in Brussels.

Donald Tusk will meet Boris Johnson at the Biarritz G7 summit on Sunday.

Ahead of the G7, Tusk will meet Michel Barnier on Thursday.

Speaking during his visit to the port of Holyhead Michael Gove, the Cabinet Office minister in charge of no-deal Brexit planning, was also asked what he thought the chances of no deal were. He replied:

Different people put a different statistical likelihood on it. My view is that there is a chance that it might happen therefore we need to be ready for it and many of the things that we would do anyway as we leave the single market and the customs union we would do or need to do in the event of leaving without a deal.

There are a series of particular facilitations and easements that can be introduced alongside technology which can help ensure that we have as effective a flow of goods over the Northern Ireland and Republic of Ireland border as businesses will need.

It all depends on the willingness of the EU, in particular the European commission, to commit to making sure that some of the work that’s already being done is expedited.

If the EU commit to this approach then it’s perfectly possible for us to have a transition or implementation period and then to work on all the steps that are required in order to give confidence that we can continue to have a solution of the island of Ireland that works in everyone’s interest.

Continue reading...

Former Vatican treasurer, and most senior Catholic cleric in the world to be convicted of child sexual assault, maintains innocence after losing appeal

The most senior Catholic cleric in the world to be convicted of child sexual abuse, Cardinal George Pell, has lost his appeal against his conviction, but maintains he is innocent.

In a brief statement issued after the decision the Vatican reiterated that Pell maintained his innocence, and that it was now “Pell’s right to appeal to the high court”.

Continue reading...

Incident is believed to be first clash with insurgents since revocation of special status

A suspected militant and a police officer have been killed in a gun battle in Indian-administered Kashmir in what is believed to be the first clash with insurgents since the revocation of the territory’s special status.

Tensions remain high in the region, where there is a heavy security presence on the streets and a continued block on mobile and internet services. In Kashmir’s main city, Srinagar, posters appeared overnight urging people to defy a ban on public gatherings and join a mass march after Friday prayers this week to protest against Delhi’s decision to strip the region of its autonomy.

Continue reading...

Two US officials say drone was brought down on Tuesday south-east of the capital Sana’a

A US military MQ-9 drone has been shot down in Yemen’s Dhamar governate, south-east of the Houthi-controlled capital Sana’a, two US officials have said.

A Houthi military spokesman had earlier said that air defences had brought down a US drone.

Continue reading...

Police say they caught him filming on Metro after allegedly uploading videos for a year

Police in Madrid have arrested a man accused of filming the intimate parts of more than 500 women without their consent while they travelled on the Metro.

The accused made the videos, a practice known as upskirting, using a mobile phone concealed in a backpack. Police say he then uploaded at least 283 of these videos on to pornographic sites where they were viewed millions of times. Police have identified 555 victims, some of them underage.

Continue reading...

Upcoming review out of Tokyo will reportedly say missile programme poses ‘serious and imminent threat’

Japan’s government will reportedly state that North Korea is capable of miniaturising nuclear warheads in a forthcoming defence report, it has emerged.

Tokyo will upgrade its estimate of the regime’s nuclear capability, having said last year only that the technical feat was a possibility, the conservative Yomiuri Shimbun newspaper said on Wednesday, without citing sources.

Continue reading...

President’s remarks seemed to refer to a perception that Jewish Americans have a dual loyalty to both America and Israel

Donald Trump used an apparently antisemitic trope when accusing Jewish Americans who vote for Democrats as showing “either a total lack of knowledge or great disloyalty”.

The remarks came as part of a barrage of disparaging comments that threaten to re-ignite an ongoing feud with the Democratic congresswomen Ilhan Omar of Minnesota and Rashida Tlaib of Michigan. They seemed to refer to a perception that Jewish Americans have a dual loyalty to both America and Israel.

Continue reading...

Texas lawsuit says school personnel drew on the student’s scalp after it was deemed his haircut violated the dress code

Parents of a black teenager in Texas are suing their Houston-area school district after three white middle school personnel used a marker to blot out a design on their son’s scalp.

The federal civil rights lawsuit was filed Sunday against the Pearland independent school district (ISD) and the three staff members of Berry Miller junior high who used the marker to color the student’s scalp.

Continue reading...

Sony expresses disappointment over push by Disney – the parent company of Marvel – for greater share

Sony Pictures, the studio that owns the rights to comic book character Spider-Man, has spoken out about the split with Disney that will see the webslinger booted out of the Marvel Cinematic Universe.

A statement released by Sony on Tuesday night said the company was “disappointed” by Disney’s demand for a greater stake in the Spider-Man films and by its proposal to scale down the involvement of Marvel president Kevin Feige in the movies.

Continue reading...

From power cuts to infrastructure failure, the impact of climate change on US cities will be huge – but many are already innovating to adapt

Between record heat and rain, this summer’s weather patterns have indicated, once again, that the climate is changing.

US cities, where more than 80% of the nation’s population lives, are disproportionately hit by these changes, not only because of their huge populations but because of their existing – often inadequate – infrastructure.

Continue reading...

In the Netherlands, where there are more bikes than people, serious money is being spent encouraging even more people to get on their bikes

In a nation with more bikes than people, finding a space to park can be a problem. The Dutch city of Utrecht is unveiling an answer at its railway station on Monday morning: the world’s largest multistorey parking area for bicycles.

The concrete-and-glass structure holds three floors of gleaming double-decker racks with space for 12,500 bikes, from cargo bikes that hold a family to public transport bikes for rent.

Continue reading...

To protect itself from destructive flooding, the city has built a park designed to store and recycle rainwater

In Alicante it never rains but it pours. The city in southeast Spain goes without rain for months on end, but when it comes it’s torrential, bringing destructive and sometimes fatal flooding.

Or at least, it used to. In San Juan, a low-lying area of the city, authorities have built a new park with a twist. Called La Marjal, it serves as a typical recreation area and a nature reserve – but its primary purpose is to store, and then recycle, rainwater.

Continue reading...

Kindergarten to join other businesses operating inside Staro Sajmište, in Belgrade, Serbia, as long-planned Holocaust memorial remains unbuilt

The greying, box-like building that houses the Savsko Obdanište kindergarten has had many uses over the years.

At one point it was a restaurant; when you step through the front doors you find yourself surrounded by musty, brown 1970s-style dining furniture.

Continue reading...

Guardian readers from Greenland share their reactions to Donald Trump’s idea to buy the country

While it looks on the surface like Trump is just drawing attention away from the rest of his ridiculous presidency with his comments about purchasing Greenland, I think that the US government does sincerely want access to our resources. The former is just asinine, but the latter is quite scary, neither of them are appreciated or welcome. If in my lifetime I see a Trump Tower in Nuuk, I should hope that global warming causes the ice underneath it to melt and send it to Atlantis, where it belongs along with the rest of Trump’s fantastical delusions. J, Nuuk

Continue reading...

Opposition parties say data threatens financial case for leaving UK

Scotland ran a deficit seven times higher than the UK as a whole last year, despite again cutting its overspend on public services.

The latest Government Expenditure and Revenue Scotland (Gers) figures showed there was a record gap of nearly £2,000 per person between how much was spent on public services and debt repayment, and total tax revenues for 2018/19.

Continue reading...

Bombing believed to be linked to Timothy Mtambo’s role at forefront of mass protests over alleged rigging of elections

The home of a leading human rights activist in Malawi has been petrol bombed in what is believed to be a targeted move to stop mass demonstrations planned for next week.

Three bombs were thrown at the car and home of Timothy Mtambo, the chairman of Malawi’s Human Rights Defenders Coalition (HRDC), and the executive director of the Centre for Human Rights and Rehabilitation (CHRC).

Continue reading...

John Kasich, Mark Sanford and Jeff Flake among those reportedly in various stages of weighing a run against the president

So what do people in Denmark think about Trump’s decision to call off his trip to the country?

Not much, it seems – with one former Danish foreign minister comparing Trump to “a clown in a circus”.

Donald Trump here, quoting right-wing conspiracy theorist Wayne Allen Root’s comments describing Trump as the “King of Israel” and “the second coming of god”.

“Thank you to Wayne Allyn Root for the very nice words. “President Trump is the greatest President for Jews and for Israel in the history of the world, not just America, he is the best President for Israel in the history of the world...and the Jewish people in Israel love him....

....like he’s the King of Israel. They love him like he is the second coming of God...But American Jews don’t know him or like him. They don’t even know what they’re doing or saying anymore. It makes no sense! But that’s OK, if he keeps doing what he’s doing, he’s good for.....

.....all Jews, Blacks, Gays, everyone. And importantly, he’s good for everyone in America who wants a job.” Wow! @newsmax @foxandfriends @OANN

Continue reading...

Shocking act in Tepexco is just one example of wider malady blighting countries from Bolivia to Brazil

Socorro Muñoz fled indoors as the laurel-lined square outside her shop became a public execution ground one sunny afternoon in early August.

“I didn’t want to see,” the 62-year-old storekeeper explained as she relived the moment a tide of Latin American lynchings swept into Tepexco’s picturesque Plaza de la Constitución, leaving seven alleged kidnappers dead.

Continue reading...

Demands for intervention outside UK consulate as hundreds rally at station where commuters were attacked

The family of a UK consulate worker detained in mainland China during a trip from Hong Kong nearly two weeks ago have voiced their fears for his safety, saying they “feel very helpless”.

Their comments came shortly before China confirmed that Simon Cheng, 28, had been sentenced to 15 days of administrative detention in the Chinese city of Shenzhen.

Continue reading...

Jadestone CEO says it could cover the cost of cleaning up a major spill, even though company has never made a profit

The new operator of the site of Australia’s worst ever oil spill has dismissed concerns it might not have the financial capacity to clean up should disaster strike again.

Ten years ago on Wednesday an estimated 40 million litres of oil leaked from a faulty rig in the Montara field, in the Timor Sea, and for 10 weeks spread over tens of thousands of square kilometres of ocean.

Continue reading...

Corruption watchdog accused of promoting ‘toxic’ workplace culture that silenced critical voices

Anti-corruption watchdog Transparency International has been accused of promoting a “toxic” internal environment of bullying and harassment, making it the latest high-profile charity to come under fire over its workplace culture.

Seven current and former staff members said the organisation had “failed in its duty of care” to staff. They accused managing director Patricia Moreira of promoting a culture that enabled “bullying”, silenced critical voices, and used “gagging orders” – confidentiality clauses in termination agreements, especially at the charity’s headquarters in Berlin. Leaked internal emails and documents including a staff survey corroborate their accounts.

Continue reading...

Climate emergency and population growth blamed for deteriorating water quality, with ‘cocktail of chemicals’ changing as countries become richer

The planet is facing a mounting and “invisible” water pollution crisis, according to a hard-hitting World Bank report, which claims the issue is responsible for a one-third reduction in potential economic growth in the most heavily affected areas.

The study, which assembled the world’s largest database of water pollution, assesses how a combination of bacteria, sewage, chemicals and plastics suck oxygen from water supplies and transform water into poison for people and ecosystems.

Continue reading...

US-Taliban agreement will not be successful without involvement of government and citizens, say Afghan women’s rights groups

Afghanistan could “return to chaos” with the wrong peace deal, say women’s rights groups in the country. A poorly negotiated agreement without proper representation of Afghan citizens and a clear counterterrorism strategy would place the democratic gains of the past 18 years at risk, says Suraya Pakzad, founder of the Voice of Women Organisation.

Talks between the US and the Taliban are running alongside campaigning for twice-postponed presidential elections, now due to take place on 28 September.

Continue reading...

A reintegration programme has helped 360 girls leave armed groups in Yambio county but for many the trauma of sexual violence persists

Late one night in April 2015, 13-year-old Patricia* and her sister, who was 11, were kidnapped from their beds by rebel forces fighting the government in South Sudan.

The girls were taken from their home in a raid on their village by the South Sudan National Liberation Movement in Yambio county, not far from the border of the Democratic Republic of the Congo.

Continue reading...

By cancelling his state visit to Denmark, the US president has again showed his thin skin

Donald Trump’s abrupt decision to cancel his state visit to Denmark after it rejected his unsolicited offer to buy Greenland at a knockdown price took most people by surprise, not least his own ambassador.

“Denmark is ready … Partner, ally, friend”, tweeted Carla Sands, the neophyte US envoy to Copenhagen who was previously an actor and chiropractor. Hours later, it was off.

Continue reading...

President could call snap election, seek new coalition or install caretaker government

“This government ends here,” said Giuseppe Conte, as he announced his resignation as Italy’s prime minister on Tuesday. After almost two weeks of twists and turns, what happens next is far from clear.

The president, Sergio Mattarella, is now calling the shots in a crisis triggered when Matteo Salvini pulled the plug on the League’s tenuous relationship with the Five Star Movement (M5S) in an attempt to capitalise on his popularity and become PM.

Continue reading...

Scott Morrison should bring strong climate commitments to next year’s forum to avoid a repeat of this year’s summit

Last week at the close of the Pacific Islands Forum in Tuvalu I described the leaders’ discussions as frank and fierce. It is now well-known that the leaders debated the text of the Kainaki II Declaration for Urgent Climate Change Action Now for many hours. I do not want to comment on the tone of the debate, as many others have done that already.

Instead, as incoming Pacific Islands Forum chair, Vanuatu has a message for Australia: we ask that Australia prepares well ahead of the next forum meeting in 2020 and comes to the table ready to make real, tangible commitments on climate change.

Continue reading...

The heads of counter-terrorism policing and MI5 have warned far-right criminality is growing

In his paper on how the far right became part of the mainstream, the academic Joe Mulhall said far-right demonstrations had grown to sizes not seen since the 1930s.

The “Free Tommy [Robinson]” event in August, the “Day of freedom” march in May and the “Brexit betrayal” demonstration in December all attracted large numbers of people.

Continue reading...

US president criticizes Jewish Americans who support the Democratic party and also defended Israel's decision to bar representatives Ilhan Omar and Rashida Tlaib from entering the country

Continue reading...

Dozens of inflatable mattresses cartwheeled across a park in Denver, Colorado, on Saturday as strong winds whipped through the neighbourhood. Robb Manes, who filmed the bizarre spectacle, described it as the ‘great mattress migration of 2019’. According to local reports, the mattresses had been set out for an open-air film screening called the Bed Cinema later that day

Continue reading...

Conte has told Italy's senate he is stepping down because of a decision by the far-right League, which is led by the interior minister, Matteo Salvini, to pull the plug on its populist alliance with the anti-establishment Five Star Movement. Conte says he will officially inform the country's president, Sergio Mattarella, of his decision later on Tuesday.

Continue reading...

A young woman who was suspected of having an abortion and charged with homicide after having a stillborn child has been acquitted by a judge at a retrial in a case that drew international attention to El Salvador’s strict abortion laws. Evelyn Beatriz Hernández, now 21, had served 33 months of a 30-year prison sentence when her conviction was overturned in February for lack of evidence

Continue reading...

US representatives Ilhan Omar and Rashida Tlaib call on their colleagues to visit Israel in an emotional press conference on Monday, following the country’s decision last week to deny them entry after pressure from Donald Trump. Omar said it was important that Trump and the Israeli prime minister, Benjamin Netanyahu, should not 'succeed in hiding the cruel reality of the occupation from us'

Continue reading...

The Democratic presidential candidate offered a public apology on Monday to Native Americans over her past claim to tribal heritage, directly tackling an area that has proved to be her biggest political liability. 'Like anyone who has been honest with themselves, I know I have made mistakes,' the Massachusetts senator said at the start of her appearance at the forum in this pivotal early voting state

Continue reading...

Donald Trump confirmed on Sunday that he was considering an attempt to buy Greenland. His interest in the largely autonomous Danish territory was met with indignation in both Greenland and Denmark, with the Danish prime minister, Mette Frederiksen, echoing the words of her Greenlandic counterpart, Kim Kielsen: 'Greenland will not be sold.'

Continue reading...

odrnews.com ©