If you're considering starting your own business then you need to make sure you're planning as much as you possibly can in advance. Whilst it may not seem important at the time, not planning in advance could cause you to make mistakes that may be severely detrimental to your business in the future. Whether it's forgetting to register for tax or failing to create a business plan, organising everything before you get started could make the world of difference.
With that in mind, here are 9 things all business owners need to do before starting their own business:
Consider What Your Missions And Values Are Going To Be
When you first start your own business you need to spend as much time as you can thinking about what your missions and values are going to be. Whilst it may not seem as though they're important, it's the best possible way to get your vision for your business straight in your own mind. These values will help pave the way for your business and it's future, giving you the best possible chance of success. For a guide on setting your business values, you can visit this guide here.
Decide On A Business Name
Once you have worked out what your mission and values are going to be you can start to think about your business name. Whilst some people find this part easy, choosing a business name can be one of the hardest business decisions you have to make. The best thing to do is write down all of the names you're considering, then one by one find out whether or not they're already taken as a business name. Once you've done that you will have just one or two to choose from, making the decision that little bit easier.
Purchase URLs And Sign Up For Social Media Handles
Now you have your business name you can start to purchase your website domain and signing up for social media handles. Make sure you're using the same social media handle across all platforms so it's easy for people to find you and connect with you. If you can't find the name you want on each platform, consider different variations you can use to stay on brand. For a guide to finding your URL and social media handles, you can visit this site here.
Create A Business-Only Email Address
A mistake a lot of entrepreneurs make when setting up their business is not creating an email address that is dedicated to business-only. Not only does it look professional, but it's a great way to get organised and have a space for clients only. Ideally, you want this to match the URL and social media handles you have chosen.
Set Up A Dedicated Phone Number
Once you have set up your email address, you need to think about setting up a dedicated phone number for your business. Whilst this is not necessary for some business, those that are public facing definitely need to consider having a dedicated line that people can contact you. If you don't want to commit to a landline straight away, consider getting a business mobile people can call.
Register As A Business And Think About Your Taxes
One of the most important things you can do as an entrepreneur is to register as a business and start making arrangements for your tax return. At the end of each financial year, you need to submit a tax return and pay the appropriate amount of tax. To prepare, you should be putting away at least 20% of all your earnings as you earn them. For a guide on completing your tax return, you can visit this site here.
Sign Up For A Virtual Business Address
If you're looking to reach a larger audience and operate in several cities across the UK, you may want to consider registering for a virtual business address. Not only will this allow you to use a mail forwarding service, but it makes your business seem much more professional than if you were using a home address. Ultimately, your virtual office with open up many more opportunities for you.
Order Business Cards And Other Business Stationery
Finally, ordering your business cards and stationery is a great way to get your brand started. You're going to want to network with as many people as you possibly can, so having business cards is absolutely essential.
Are you thinking of starting your own business? What do you need to do beforehand? Let me know in the comments section below.