Tools to navigate the first six months of your new business
So, you’ve come back from your summer holidays and you’re questioning whether returning to your current job is something you want to do. Instead, you believe that the next step for you is to undertake a new venture of your own – it certainly sounds more fulfilling, exciting and rewarding. Is this familiar?
If you’re looking to take the leap and start something of your own, firstly – congratulations! You’ve taken the all-important first step to self-employed success. Secondly, we understand that the next few months are going to be a rollercoaster with lots of planning, hard work and determination but don’t worry, we’re here to support you.
This article is designed to point you in the direction of all the necessary resources you will need to get your new venture off to a flying start in one handy place.
The six step start up journey
Have an amazing idea for a product or service in your head but not quite sure what to do with it? By following our six step start up journey map, we can help you take that nugget of gold and turn it into a gold bar. Each step of the journey is peppered with additional resources to ensure that you feel prepared to keep moving forward, even if a surprising hurdle pops up!
Click here to review our six step start up journey.
Review and renew: The Jersey Business podcast
Most good businesses need inspiration to take them to the next level. A small snippet from an article or a few wise words from an expert can help to revive your entrepreneurial spirit and either solidify that your business is on the right path or give you some food for thought on other directions to take. Our podcast series, Review and Renew, aims to do just that.
With each episode tackling different subjects, one or some that might resonate with you and your business, with expert guest speakers, you might find the advice invaluable for your start up.
You can listen to our podcast here.
Business plan template
One of the most common reasons some start-ups struggle to get off the ground is because of a lack of appropriate business planning and, in some cases, not even writing a business plan.
Without a clear understanding of what your business does, your target audience, its unique selling points (USPs), the findings from your SWOT analysis, potential competitors, and a short, mid- and long-term financial plan, it’s likely that there’ll be more bumps in the road than necessary.
Knowing exactly what you need and when you need it will be integral to the success of your business, especially in the initial stages.
Read our business plan template here to see what you have left to consider.
Register as a sole trader or partnership
Alongside bringing your vision to life, you’re going to need to sort through the nitty gritty of the legal paperwork. This includes signing up for the correct licenses, ensuring your accounts are up to date, opening a business bank account and applying for appropriate insurances.
Read more on registering as a sole trader or partnership here.
Register as a Limited Company
You may choose to become a Limited Company instead of a sole trader or partnership which requires a different process. If you’re unsure of which route you’d like to take, here’s a helpful page on our website that differentiates between a sole trader, partnership or Limited Company.
Ready to register your business as a Limited Company? Visit this page on our website for further guidance.
Keep everything in one place
There’s a lot going on in the first six months of starting a business and keeping track of what you’ve done and tasks that are outstanding can be a hard job in of itself! We have a handy start-up checklist with all necessary actions in one place that you can refer to as often as you need to keep your venture on track.
Starting a business is an exciting time, but will most certainly involve a lot of dedication and hard work. Remember that you’re not alone in this new venture – the team at Jersey Business are here as your confidential sounding board and to offer a helping hand with expertise and knowledge in all things business.