Getting your startup off the ground may seem an insurmountable task, but with a little tenacity and rigour, you can do it. Here are 9 steps to start your own business and reap the rewards.
By Craig Falck for Africa Report
1. Put pen to paper and draw up your business plan. This will include where you’re starting from, where you want to be, and how you’re going to get there.
2. Know what kind of business you’re going to be. Then adapt your business plan to your needs (i.e.: private company, close corporation, home-based, e-commerce, etc.).
3. Add detail to your business plan. Detailing how you’re going to achieve your goals, what kind of funding and other resources you will need, and any other details that will be important to the running of your organisation.
4. Register your business with the correct registering authority. Your documents will need to be drawn up by your accounting officer, and more often than not they will assist with your registration.
5. Source funding in order to begin operations (if you’re not able to cover this yourself). There are a number of ways to do this – angel funding, partnerships, selling equity to investors, bank loans and more.
6. Get creative to draw up your logo, website design, letterheads, business cards and any other asset-type items that you will use during business.
7. Set up all of the correct communication channels with your banks, accountants, insurance brokers and information technology teams so that everything is in place and ready for action.
8. Build up your team by advertising and interviewing as many high-calibre employee hopefuls as possible. Don’t just hire the first person to come along – take the best of the best to ensure that you have a strong team you can rely on to get the job done.
9. Open your doors and begin!
There are a number of steps involved in opening a business and you can’t skip any of them. They’re there for a purpose, but they’re also easy enough that anyone can follow. It’s time to be your own business owner. Go get ’em, tiger.
Source: http://www.startupnation.com/start-a-business/brand-building/1/
