Starting a business could be simpler than you think

Each and every business has a different start up journey.  There are clear differences when starting up a business in the restaurant industry compared to your own consultancy business offering industry insights, however starting a new business might not be as complicated as you have previously thought.

Below are some ideas to consider for all of those entrepreneurs out there who are just about to begin their business journey…

An Original Idea

An original idea is clearly crucial to starting up a business, right?  Many entrepreneurs focus solely on finding a gap in the market, something that they can bring that nobody else has thought of before. This is fantastic if you do find that original idea however not all businesses need to be based on this. 

There is nothing wrong with finding a service or product that may already be available, analyse the market and find your niche that makes your business a competitor.

A Physical Address

If there is one thing we've learnt from the Covid-19 pandemic, it is that a physical address is not necessarily needed for businesses to continue to operate and thrive.

Of course, this is all relative to the kind of business you are starting with, but where it was once believed that contact centres and office spaces were a necessity in many businesses this is no longer the case.  Remote working is here to stay as more and more businesses adapt to this, their growth will continue, but their physical connections with bricks and mortar will decrease.

In-House Experience

If you have all the experience you need in house, then it is correct that your business journey may be easier. However, every entrepreneur has to learn as they go and no matter what their business background there will always be something new to learn. 

There are so many online free resources to support businesses now. Connect with your local Growth Hub and Chamber of Commerce to access a wide variety of free resources.  Google is an entrepreneur's best friend, if you are not sure how to do something Google it and you will find a wealth of knowledge at your fingertips. 

Work smart not hard, prioritise your learning, fill your own skills gaps; although you may feel you want to concentrate on generating revenue by working in the business, by enhancing your own skills you are working on your business and reducing your costs.

By Emily Pegg
Business Engagement Manager