Starting a business takes a lot of dedication and motivation but taking the proper steps will bring you closer to success. We look at four key areas you should focus on from the start.
Operations – Identify what you need to run your company
As your business grows, the operational strategy becomes more complex. First, ensure that you understand your business objectives and the steps to get there. This strategy should be implemented right from the beginning because it will be easier to oversee the required changes and planning as your business grows. For example, what technology do you use to stay competitive and help you work more productively, and what objectives have you set to improve this in the future.
Marketing to gain awareness and new business
People need to get to know your business. It can be hard at the start to invest too much money and time into marketing, but it is so important to get your business going. Now more than ever, most companies are going digital to stay competitive. The essential things to consider at the start are:
- Create a simple, user-friendly website to list your services, solutions and ensure that your contact details are correct.
- Email marketing – You can sign-up to some free email platforms like MailChimp, HubSpot and others which allows you to contact your existing and new customers to promote your company.
- Attend local events and networking opportunities, some local events are free to attend; Eventbrite is an excellent place to start looking.
- Use social media to share your information with a wider audience. Try and set up platforms that you know that your customers would use, that way, its easier to stay in touch.
- Competitor analysis helps you gain ideas for your business and ensures you stay in line with what others are offering.
HR – Recruiting the right talent and managing them correctly
Initially, you might start small, and you may be the only person running the business, but as your business grows, you will need to employ people with expertise in different areas. Prepare a HR strategy even if you only have a couple of employees. Providing your staff with a happy working environment will likely keep them employed with you for longer. So, prioritise giving them the right equipment and sharing necessary company structure and procedures.
Covid has set the trend for remote work, which allows you to pull talent from other regions of the country or world. Technology like Zoom, Google Hangouts or Microsoft teams enables your potential staff to work remotely.
Taxes and Finance – Understanding your finances is essential
When starting your business, you will have to be aware of your finances and taxes. Recording your investments, overheads, general expenses, and incoming cash is essential to understanding how well your business is doing. Also, keeping up with your tax and compliance requirements is fundamental. To ensure you are on top of this from the start, invest in accounting software that will help your business to operate more efficiently and grow quicker. BTCSoftware offers affordable, simple to use software for small businesses which integrates easily with various bookkeeping software. The Business Return package has the perfect tools to help small businesses to submit Statutory year-end work and Corporation Tax easily, allowing the expertise to be in-house. To see how this works book a demo.
Can we help?
If you have any questions, contact the sales team at e: sales@btcsoftware.co.uk or t: 0345 241 5030.
