Blog 1 - 'What I know abut setting up a business'

Setting up a business is a long, tiring process. Figuring out what to create a business about is a hard step as it has to be something you are passionate about Making you “work harder and persevere more … thus be more likely to succeed at it.” (entrepreneur handbook, 2019)Once the process of figuring out what your business will be that’s when you will start to go through the hardships of getting people on board with your idea. This would be through extensively researching information around the idea you have and ensuring that it is unique.

Building up this research will provide you with a sense of stability as you will understand why your business idea is feasible, this research will then be put into a business plan which you can present to potential investors. “ A good business plan: structure your finances efficiently, show potential investors the strength of your business, and focus efforts on developing your business.” (Great Business, 2019) Ensuring you have a perfect pitch, you have to find people interested in the business you are creating, you’ll have downfalls but have to stay positive and passionate about the business otherwise you’re likely to fail.

References

Entrepreneur Handbook. (2019). 15 Steps to start a business from scratch with (almost) no money. [online] Available at: https://entrepreneurhandbook.co.uk/starting-a-business/ [Accessed 2 Oct. 2019].

Greatbusiness.gov.uk. (2019). Great Business | Write a business plan. [online] Available at: http://www.greatbusiness.gov.uk/writing-a-business-plan/ [Accessed 2 Oct. 2019].