Write your biography – who are you – what do you do – and more importantly, how does what you do help your potential customers. Sell the solution not the problem is still solid advice, and if you know exactly what problem you’re solving, it will be much easier to build your brand around it.


Money talks


Time to get serious about money. Make a list of all the things you will need to spend money on. From premises to vehicles to web domains to staff to stationery, you need to be absolutely clear on your initial outlay. You don’t need to start with exact figures, but you do need to know exactly what you’ll be needing money for, so you can build that out later. Go through your list and assign priorities to each item. What must you absolutely have ready to go from day one, and what can you set up later.


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business, where you’re planning to get funding from, and various other factors. There are plenty of templates around to get you started.


Use them to get the thought process going, and then tweak and refine to make it your own. You need to have a clear vision of who you are, who your customers are, how much money you’ll need and for what, and what your plan is for your business.


Write it down. Keep it brief by focusing on key points that will keep your business on course, but thorough. You need to be able to define your business, know who your competitors are and have a basic marketing plan. Consider everything but don’t get too bogged down in 100 pages of probably inconsequential details.


The small print


Get to work on your business plan now”


Do some research and work out how much everything will cost. Set out a budget for at least the next 6 months and come up with a few worst-case scenarios and make sure you budget for them. There shouldn’t be anything left unaccounted for here, and you should now have a very good idea of exactly how much capital you’ll need to get up and running.


Make a plan


Get to work on your official business plan. This will vary greatly depending on the type of


You need to make sure you have the basics covered. You’ll need an accountant, for example. And it wouldn’t hurt to get some protection in place for those things that could trip you up when you least expect it. Having tax investigation and legal protection takes the weight off your shoulders of having to worry about it when you need it. FSB members have access to a 24/7 legal advice line, online legal documents and tax and legal protection as part of their membership package. Have a look at our full range of benefits to get an idea of what might come in handy for your small business.


Getting started is the hardest part. The truth is, if you wait until you’re 100% ready you may never do it. No time like the present. Take a deep breath and just take the first step. Soon you’ll find your momentum and be well on your way to being a small business owner.


FSB – The Federation of Small Business


The FSB offer our members a wide range of vital business services including advice, financial expertise, support and a powerful voice heard in government. Established over 40 years ago to help our members succeed in business and achieve their ambitions, the FSB are a non-profit making and non-party political organisation that’s led by the members, for the members.


Members get an


exclusive package of great value business services including advice, financial products and support. These cover a wide range of benefits such as tax, legal and HR, local network groups and business banking.


The FSB don’t only provide fantastic


membership benefits, but it is also the UK’s leading business campaigner, focused on delivering change which supports smaller businesses to grow and succeed. The lobbying arm starts with the work of the team in Westminster which focuses on UK and English policy issues. Further to this, their expert teams in Glasgow, Cardiff and Belfast work with governments, elected members and decision-makers in Scotland, Wales and Northern Ireland.


www.fsb.org.uk


Make The Future Yours! Issue 1


17


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