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Starting Your Own Business? Here’s What To Do First

Are you thinking of starting your own business?

Exciting times! Let me congratulate you on deciding to take your future into your own hands!

It is an exciting – and also a little frightening – experience as you work out what to do and where you want to go and how to start. What’s the first thing to do?

I’m sure that in your planning you would have done some basic things up front like consider if you’re the type of person to own and run your own business, what skills you have and what others you might need. I hope you’ve conducted a feasibility study of your business idea and that you’ve designed your business model from marketing to sales to purchasing and to the administration and backroom infrastructure.

But what I wanted to walk you through are some nuts and bolts issues you need to get ready before you open your doors.

 

 

Let’s run through what I dealt with in the video.

The various matters you really need to nail down before you open your doors are: –

  1. Get your advisers all lined up;
  2. Complete all your required tax registrations;
  3. Make sure your legal registrations are in order;
  4. Complete your other legal agreements;
  5. Open a separate business bank account;
  6. Set up your insurances;
  7. Set up your technology systems;
  8. Set up your internal and administration systems; and
  9. Identify any training required and book.

It’s important that you set yourself up for success.

This means making sure that all your structural, legal and business obligations have been thought through and completed before you open your doors. If you set yourself up correctly up front, you’ll avoid “making it right” as you go.

If you are thinking about starting your own business, you can’t do worse than to enroll in my short course – it’s an online course you can follow in your own time – called “How To Start Your Own Business“. Find out more about it here.

Or at least, set yourself up for success y following my valuable and free business-building ideas on my blog. Go to teikoh.com and register your email to get them sent directly to you.

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