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New Business Start-up TIPS:

Starting up in Business

Highlight your end goals and structure how you want to accomplish them. Build a business plan.

Getting a Decent Start

Having the correct systems, controls and procedures in place can help new business start-ups remain in control of your business plan and manage the business' cash-flow effectively.

Help Secure Investment

To boost market value or convince stakeholders of the potential future performance you need to have a framework that measures the value of your employees.

Networking

Networking is vital to business relationship building. From the onset start thinking about what networking activities you will perform.

Marketing

Marketing is important for any business. Spend time researching what marketing strategies you want to implement for your business and try to save money where possible. Shop around.

Make Good First Impressions

Research has showed that most customers prefer to be greeted by their full name. Note though that not all people feel this way but a professional approach is essential.

Boost Sales in a Downturn

Take advantage of any downturn in the market by going back to basics and boost your performance whilst your competitors remain in a struggle.

Learn from Complaints

Every company will receive a complaint at some point and handling them correctly can prove valuable, but only if you structure how to deal with them in the first place. Companies that have planned how to handle them and succeed at this can gain customers and also retain staff.

Road-Test Your Business

With the majority of new business ventures failing, it's not surprising many would-be entrepreneurs are put off starting up. The trick is to be prepared to ask some tough questions while retaining the confidence to go for it.

Debt Chasing

£30,000 is the average amount owed by customers to small businesses. This figure would cause 3 out of 10 businesses to fail if this occurred. Think about the steps you will take in order to keep your debtors list to a minimum

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"The Advice provided by TaxSense Accountants has been invaluable in helping our business to grow"

F Graham - Guildford

 

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Business Concept

Creating a working business plan can be challenging and very frustrating. You need to create systems and procedures to deal with opportunities that appear so that you do not end up with being faced by a problem that you have not prepared for.

And how are you going to find out what those pitfalls are before you fall into pit?

Need Professional Advice to get your idea off the ground?

Many new business start-ups and also existing businesses suffer from paying high costs for the business advice they receive. At TaxSense we believe in helping our clients to succeed with their business in most cases this means helping them grow their business.

Many consultants charge in excess of £100 an hour to provide businesses with valuable advice. This cost could amount to over £800 a day just to move your business in a new, profitable direction.

TaxSense Accountants specialise in providing practical advice and support to small and medium sized businesses to develop the strategies to meet your needs.

When we deliver our practical, no-nonsense solutions we expect to be judged by our clients on the basis of real, measurable outcomes which we have developed by having experience of owning small and medium sized businesses.

How to start a business on a shoe-string?

Firstly you watch every penny you have and only spend it on essentials.

The right business and accountancy advice are 2 essentials to turning an idea into a business.

Many people have an ambition to run their own business. They start up and then the learning starts. If you are lucky you learn from your mistakes before your money runs out.

The 5 Finger Rule

Identify the following:


  1. Goals – (thumb)
  2. This is what you want to achieve

    At the start of your business planning you may have lots of ideas that seem farfetched or may have played it along the safe side. Whatever the idea, identify it. Keep it in the middle. It's sensible for you to keep within reach, but it's also healthy to have those ambitions.

  3. Plan – (index finger)
  4. Prepare a plan that shows all aspects of the goal, and how you are going to achieve it.

    The plan will change throughout your journey and will hopefully become something you don't follow, but something you change accordingly.

  5. Action – (middle finger)
  6. Put the plan into action by following the plan according to what you decided was most important.

  7. Timescale – (ring finger)
  8. Set yourself target deadlines, and try your best not to set the targets to a later date because they are incomplete. Instead put more effort and work harder to make sure you achieve the objectives within the timescale. It will not only enable you to complete on time, but it will also give you confidence in knowing that you can do it if you put your mind to it.

  9. Review – (little finger)
  10. Take the time out to regularly review your plan to identify if the goal has been achieved, or if it has changed does it take us towards a new plan or back to review the old plan.

  • Repeat steps 1-5

Continue reviewing all aspects of the finger rule. If the goal has been achieved use the same approach for your next business idea, as clearly it worked for you.

Most of our clients set themselves challenging targets and we will show you how to do this for your new business start-up, get you on your way, whilst walking the long road alongside you step by step.

Where do you turn for business advice?

It used to be your bank manager and your accountant. Not anymore, the norm is to pay a business consultant to prepare a report that identifies all the issues and tells you what to do. However, unless you have a fist full of money to pay for someone to implement these ideas then nothing changes, except you bank balance which goes deeper into the red.

To reduce the dangers and receive a guiding hand we have a team of dedicated professionals who will advise you and support you every step of the way.

We are Taxsense and we are different!

You can talk to us about your business problems and we will give you to the point advice that helps you deal with one issue at a time, and you can keep coming back for more.

What do you have to do to tap into this fantastic resource?

It's simple.

You sign up as a Taxsense client and we will provide it to you, and provided you stick to the rules, it is mostly free.

Oh and one more thing we know bank managers that will do the same and work with us and you to form a business building team.

All advice is supported by our in house dedicated accountancy firm TaxSense Accountants.

Need Business Advice for your New Business Start-up?

TaxSense have helped many of their clients over the years to maintain a strong working business plan and provide free practical business advice to all clients as standard. We believe in success, and we are with you every step of the way.

Below you will find some of the services we provide to help existing and new business start-ups:

Reviews:

TaxSense can carry out diagnostic reviews to analyse problems and their causes.

Guidance & Advice:

We deliver independent practical advice to all our clients in order to solve problems and to capitalise on any opportunities quickly and efficiently. We also provide strategic advice for the longer term development of your business.

Support:

Taxsense adopt a 'roll up our sleeves' direction when supporting our clients. A method many small business owners lack.

We help inject new ideas to keep your business sharp in the market.


We also provide many other services to our clients:


  • Cash Management
  • Financial Restructuring
  • Sales & Marketing
  • Operations Management
  • Staff Training

Most of our clients set themselves challenging targets and we will show you how to do this for your new business start-up, get you on your way, whilst walking the long road alongside you step by step.

Things you may need or might like to know about...

Click 'read more' to view our Initial Considerations for New Business Start-ups:


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NewBiz Startup - NewBiz Startup, Business Advice, New Business Start-ups, Business Services, business concept