Our services - Start-up businesses
It is always advisable to get as many things right from the beginning as possible, getting them wrong often entails much more cost than the savings made by taking short cuts. Often money is tight when you start-up a new business, however it is a fact that a high percentage of money is wasted at the early stages due to lack of knowledge or experience. We can help you to minimise these losses as well as help you to evaluate your project and maximise the chances of success.
When starting your own business there are many online resources available and Businesslink can offer valuable free help and support. But where you feel that you want to speak to experienced entrepreneurs for advice, guidance and motivation, or you require practical hand-on assistance, Managers2Hire can help you. We often talk to start-up businesses and point them to Businesslink and other resources to get whatever initial support is available free, then we fill in the gaps, which keeps cost down to a minimum. As you grow your business we grow with you and you always know that all the support you need is with you and you are not alone. We are also able to direct you to trusted and reliable suppliers, contacts and service providers to help you get a good start. See below for a brief showcase of the most popular areas of our work with start-up businesses, if you cannot find the service you need just drop us a line. Read more about how we work and our fees here. If your business is already running, see Growth and if you are experiencing financial difficulties see Turnaround.
Mentoring & General Management Support
This is overall support and guidance to help you cope with the demands of setting up a new business and then the every day efficient running of your business.Typically your mentor will guide you through all the steps and processes needed to set up your business. Of course there will be some areas where you already know what to do and others where you can get free help, but overall the deal is to ensure that you get as much right as possible on day one. Your mentor will be a highly experienced entrepreneur who will be able to help you with your plans, pick up on things that may have been overlooked and generally help to keep you out of trouble and give you the very best chance of success. Assistance could be with anything from applying for a government grant, understanding finances, raising money, creating business plans and a business strategy to full-on managed services co-ordinating suppliers, procurements, service providers etc and implementing your project to get you up and running as fast as possible.
An invaluable bonus of having a mentor is having someone at hand who understands business and your project, not someone who will always say yes, but someone who can highlight possible problems and confirm your great ideas. Making the transition from employed to self employed status can be an emotional roller-coaster, a mentor can also help to keep things balanced, reduce the stress and help you when you are not on top form. You can choose how long you want to see your mentor, from 1 hour / mth upwards according to your budget. If you are going to be absent for a while or have an unexpected event meaning you or a key member of staff is unable to do their duties, your mentor can help provide cover.
The essential checklist for start-ups
Business Plan
Many fail to plan and so plan to fail! A business plan does not have to be complex or fancy but it is essential so everyone concerned knows exactly where you are going and how you are going to get there. If you need to borrow money this is a must.
The Law
There are many legal issues to take into account when starting up, some for your own protection, some for compliance and others are just advantageous to know. Should you be a limited company or a partnership? What are the options? Important to get right at the beginning as changing later can be troublesome.
Business Tax
Tax is never easy, it's always something of a minefield, good advice here is essential.
Raising Money
Evaluating the many options available for raising money can be confusing and riddled with undesirable clauses and unfavorable traps. How you raise money and how much you raise needs careful planning.
Franchise or from scratch
Franchising is a popular way to enter into business because it makes the process look easier - but is it right for you and which franchise should you go for. What are the positives and negatives of doing things this way? What are the alternatives?
Employment
Your business is all about its people, but employing people can be a minefield and it's often regarded as the most difficult aspect of running a business. Due consideration here is well rewarded in future.
Branding
What does your company stand for? Why is brand important when you start? How do you create a brand and protect it so no one can take it a way from you? How do you profit by having a brand? Every interaction, transaction or communication will have an effect on people's perspective of you and your business. Its, worth getting this right.
Marketing
Marketing is the core of most successful businesses. Research, segmentation analysis, client and market targeting, your sales proposition, promotions, advertising and media relations. In today’s world thorough planning and budgeting here is essential.
Online
Taking your business online is no longer an option but a must, but this involves much more than a website to get it working for you. In a crowded market place, getting yourself heard and understood is a modern science. If not done properly the money spent here will be wasted.
Sales
Some people do not like the word “sell” but if you cant sell, you cant run your own business. If you have not got any sales experience, you better take a crash course! Actually some simple rules and tips can help you to get a long way.
Collecting Payment
How will you charge for your goods and services? How will you collect payment? What will you do when a customer refuses to pay? Again essential to understand this part of business.
Cash flow
Many businesses fail not, for not having sales or orders but because of poor cash flow. Running a business is all about the cash flow, someone in your business has to be pin sharp about this and you have to have complete control of your finances.
We can help you on all areas of running a business successfully. See Growth for more detailed information.