we will make it easy for you!!
You have a great new idea for a business. Nurture the passion and enthusiasm as it will be a long ride! We have provided the list below to help you get started, but remember that perseverance and hard work will make your business a success.
We like to use the framework provided by Verne Harnish who wrote “The Rockefeller Habits” (see more on Verne here http://gazelles.com/ ) to frame our approach to startups, namely:
We have listed books that can help with each of these issues in our online bookstore at amazon.
Who do you need to run the business, what are you personally good at, what do you need advisers or coaches to help with. A key choice is to choose a lawyer and accountant you can trust to help you with the right legal structures and reporting for your business.
You need to look at all the key roles that a large business would have (see below), and then decide who on your team will do those activities. If you are a team of one – then its you!
Key roles in a large organisation would be:
People often confuse the Business Plan (the “how”) with the Strategy (the “why”). The strategy is broader; why have you started this business? what are the objectives that make it successful for you? what would good and bad performance look like? how will you measure that? who is competing with you? what approaches will you use that will give you an edge compared to competitors?
We would recommend the tools by Kaihan Krippendorff “Outthink the Competition” www.out-thinker.com to assist working out your strategy, and a very useful template for structuring your thoughts on your business is “Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers” by Alexander Osterwalder.
You can also see other books we have found useful here
You need to have a plan for your business. At a simple level it is:
To assist with a detailed review of the overall business model – have a look at www.businessmodelgeneration.com (or the book “Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers” by Alexander Osterwalder) which provides tools to help work through the plan. You can also review the one page plan provided by Gazelles at www.gazelles.com
This is the key for any business. How will you charge for your offering, how will you collect the money, how long will it be between providing the offer and getting the money, how will you pay for staff, resources and premises while you are waiting for the money, and what initial money do you need to set the business up. Depending on your answers to these questions you may need:
We have collated some good resources here, but find a good accountant as this is key to your business success.
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