- Before you start consider your personality, skills and circumstances. Ask yourself if you are suited to running a business. Also consider who will look after your children.
- Research your idea thoroughly and test the market to ensure there is a market for your product.
- Work out how you are going to finance your business, including set up costs and ongoing costs. Then organise your funds, e.g. loans.
- Define your goals and objectives. By completing a business plan or "success plan" you will know what you want and need to achieve.
- Organise legal and regulative areas, e.g. your business name, ABN, GST, permits, bank details, insurance, trademarks and patents.
- Register a domain name and set up a website.
- Organise your products so that you have sufficient stock. Tip - never order too much stock in the early days.
- Organise your promotional material and marketing, e.g. logo, brochures, business cards, stationery, advertising. Complete a Marketing Calendar so you know how you are going to market your business.
- Organise your operation e.g. office equipment, furniture, phone, fax, mobile, stationery etc.
- Now you are ready to start generating some sales!
Tip: ensure you have the support network and expert help.
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