3 Things To Ask Yourself When Setting Up A New Business

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3 Things To Ask Yourself When Setting Up A New Business

Have you had an idea for a new business?

Have you started to develop it into something more than just a pipe dream?

If you are beginning to get some ideas down onto paper and some interest in funding it, then we would suggest that now is the time to ensure that you ask yourself these 3 things as you set up your new business. 

Are you passionate about it?

The very first thing that you need to consider is whether you are passionate about your new business idea. That passion can carry you a long way, or that apathy can really hold you back. 

Ideally you will have some experience in the industry that you are looking to launch into, but do not panic if not. If it is an area that you have long been interested in, a favorite hobby perhaps, you may find that you can learn on the job either through gaining formal qualifications or getting stuck in and gaining some experience. 

If what you are doing makes you happy, enthusiastic and determined, then your passion will shine through to your customers. It can set you apart from competitors and it can keep you going through the more challenging times. 

Who can help?

When you are setting up a new business it is likely that you will need some help and support at some point.

You might find that your first priority is in getting some help at home so that you can manage everything. Will you need some childcare, someone to drop the children to school each day, or perhaps assistance with walking the dog? It might be that you are going to need to employ a cleaner so that there is one less task to manage or your partner might be able to take on more at home whilst you are getting everything organized. 

You might then need to consider outsourcing and getting help from experts so that your business runs smoothly. You might need IT consultants, graphic designers or specialist services such as managed print services, in which case you can find out more at http://www.cdsla.com/solutions/managed-print-services/

Who will buy from me? 

Whether you are selling a product or a service, you need to think about who will buy from you. 

The best place to start with this is in drawing up a list of real life people that you feel could be your first clients. The next step will be to imagine the types of people that might be interested in using your services and then you need to think about how you might go about reaching them and appealing to them. 

Now that you have a profile of your customer base, you can begin canvassing potential customers. Ask friends and family for honest and constructive feedback, drop surveys out on your social media feed and conduct market research. Try to understand what it is that people need from you and what it is that you can offer that will make them come to you over your competitors.