Starting in Business
-
Are you thinking about starting a business in Hertfordshire or the South East?
-
Do you want to turn your hobby, interest or great idea into a business ?
-
Have you long dreamt of being your own boss?
-
Do you look at other businesses and think “I can do better”?
At DAA Consulting, we specialise in helping people who have recently started or are thinking about starting a business in Hertfordshire and the South East of England.
If you have answered yes to any of the above questions, then welcome to the early stages of becoming a business owner. However, starting your own business is a big step and there are a number of crucial steps to think about in the very early days:
Take Advice
The best advice anyone can give you when starting out or even thinking about starting out, is to take advice from someone who has already been there. This does not need to be costly or in fact cost anything at all. Speak to anyone who has run their own business and you will find their advice invaluable.
Having said that, be careful not to rely solely on people who are 
likely to say they think you have a great idea or product simply because they want to be friendly or tell you what they think “you want to hear”. It’s important to consider taking independent business advice.
Mentoring is a great way to hear from people who have the knowledge and experience and now want to give something back to the Business community. DAA Consulting offer a free mentoring service for start ups.
At DAA consulting we specialise in helping people who are starting a Business in Hertfordshire and the South East and offer a whole range of services including Start Up Loans, help with Business Plans and general business help in Hertfordshire.
Download a copy of our free ebook:
“A Guide to Starting and Running a Small Business”
Starting a business Website
A website for your business is one of the most important steps to you marketing campaign. If you have never looked at starting a business website, we can help. We can deign and build your very own website, which either we can manage or show you how to manage it.
Prices start at just £199. Check out our Starting your own Business Website page to see some examples of sites we have built for other clients.
Market Validation
It almost goes without saying that a key starting point for starting a business is an idea. However, not all good ideas become good businesses.
You have to initially ask yourself a couple of key questions:
- Is there a market for this idea i.e. does the market exist?
- What type of marketing, pricing and business model will best attract your target customers?
Research is vital.
Business Model
With your idea and research in tow and before starting a business, you need to decide which business structure to opt for. Again, research is required to find out what are the pros and cons of the relevant structures in relation to your idea. The choice of structure will inform your future growth; therefore, picking the best-suited structure is an imperative.
Business Planning
The next step is creating your business plan: this will focus your mind and show you how to map where your business is going, how you are going to get there and where you want to be in three to five years time. Without this clear vision, your business will struggle and may not succeed.
You will also need this if you want to persuade other people to help fund your business, whether it’s a private investor or a bank. It is easy to underestimate how much cash is required in your business, so it will almost certainly need some form of funding and a business plan will help you identify this.
At DAA Consulting we specialise in helping people who are starting a business in Hertfordshire and as such can help you develop your plan and help you seek routes to finance.
Branding
You will also need to consider the image of your business; for example the name and logo. It may be appropriate to have a name that reflects what you do, or one that is modern and trendy but either way, it should be one that is easy to remember and easy to spell.
Your image needs to be displayed on a well designed website produced by a professional company and promote it through Social Media Marketing. If your business relies on local trade, there is no point spending money on a national campaign and this includes marketing your website.
One of the reasons DAA Consulting specialises in helping people starting a business in Hertfordshire, is that it can focus its efforts on what is happening in the world of business locally; this enables us to pass our local knowledge on to our clients.
Download a copy of our free ebook:
“A Guide to Starting and Running a Small Business”
Cash Flow Management
Cashflow is the number one reason why so many businesses fail. It is therefore vital, that you have an accounting and cashflow system running from day one. Getting buried in invoices and receipts, or not keeping an accurate account of what your business is doing will have a massive negative impact on your business you will lose sight of the viability of your business.
Summary
Finally, it is important to remember that obtaining business help and advice is invaluable in helping your business succeed. It is a fact that 70% of small businesses who receive mentoring survive for five years or more, which is double the rate of those who don’t.
Don’t be afraid to ask for business mentoring from DAA Consulting, especially if you are starting a business in Hertfordshire.
Contact us today via our contact page here or call us on 01707 527725
Towns covered in Hertfordshire: Abbots Langley | Baldock | Berkhamsted | Bishops Stortford | Borehamwood | Broxbourne | Broxbourne Council | Bushey | Cheshunt | Cuffley | Dacorum Borough Council | East Hertfordshire | Harpenden | Hatfield | Hemel Hempstead | Hertford | Hertfordshire | Hertsmere Borough Council | Hitchin | Hoddesdon | Kings Langley | Knebworth | Letchworth | North Hertfordshire District Council | Potters Bar | Radlett | Rickmansworth | Royston | Sawbridgeworth | St Albans | St Albans City & District Council | Stevenage | Stevenage Borough Council | Three Rivers District Council | Tring | Waltham Cross | Ware | Watford | Watford Borough Council | Welwyn Garden City | Welwyn Hatfield Council |
