Launching Your Own Business

For some people, they enjoy and appreciate the clarity, lesser responsibilities and structure which automatically comes for working for another person, either in a smaller business or a company with various levels of hierarchical control.

However, if you are more of a free-thinker and want the freedom to not only create your own work, but to thrive in building a business and taking it from strength to strength, then starting your own business is definitely the way forward.

So, with this in mind, continue reading to discover four top tips when launching your own business.

1.   Make Funding & Financing a Top Priority

Presumably, you will have been saving for this new business for a while now, or perhaps instead you have been fortunate enough to have found an investor.

Naturally, the amount of start-up money you will require when beginning a business entirely depends on the nature of your new company and indeed the type of service or product you will be supplying. However, within your new business plan, it is important to meticulously itemize every single possible thing you can think of and always allow for a bit extra cash on top of that.

2.   Think Long & Hard Around Advertising

Your new company’s initial marketing strategy is one which should be meticulously thought through and thoroughly planned, and ideally should be launched prior to your company going live.

Just some of the considerations surrounding your first major advertising and marketing campaign should involve:

• Distribute newsletters and emails
• Use print marketing strategies such as flyers
• Build a strong social media presence
• Engage in deep competitive research
• Create an SEO-optimised official website
• Attend industry-specific networking events

3.   Choose Your Office Space Wisely

If your new company requires a base of operation, then you will obviously need to look for an appropriate office space and it makes sense to rent such a property rather than buying one, especially in the early stages of your business.

Prestigious and respected suppliers of office rental spaces, such as the workplace company, have a range of different locations to choose from and also will be more than willing to help you with any questions or queries you have along the way.

These suppliers maintain robust partnerships with an array of service providers, ensuring that each detail of your office space, down to the bathroom stalls, is of the highest quality. They work closely with esteemed bathroom stall manufacturers, ensuring that even the most overlooked aspects of your workspace align with its overall ambiance and practicality. Opting for a rental space through such a well-networked agency frees you from the minutiae of dealing with numerous vendors, allowing you to channel your energy into the core activities of your burgeoning enterprise.

4.   Business Insurance

Finally, business insurance is the most important financial consideration of them all and it is crucial that you fully understand the different types of business insurance, and which one is best applied to your new company.

In the United Kingdom, there are five primary types of business insurance, which include employers’ liability insurance, small business health insurance, public liability insurance, professional indemnity insurance and legal expenses insurance.

Small business health insurance will go towards paying for any medical treatments and other extra help to your employees, public liability insurance is vital if you will have customers or clients coming to your premises and employers’ liability insurance is an absolute legal requirement.

Professional indemnity insurance is necessary if you will be visiting your customers or clients’ location and finally, legal expenses insurance covers all potential prosecution fees and other legal expenses.