A blog from a Guest: Ed Carter

Life as a parent is challenging, even more so when you’re differently abled – add to this the mammoth task of starting a new business and things can get overwhelming quickly. Fortunately, with the right preparation and a few helpful tools, you can simplify the process and build your small enterprise steadily.

 Do Your Research

 If you have a great concept for a business, it would be worthwhile to take a closer look at the competition. Not only will this give you a better indication of what the companies you’re up against are offering, but you’ll be able to refine your ideas and take them to the next level. During this process, you’ll also have the opportunity to figure out how to differentiate yourself from the competition and personalize your product or services to your potential customer base.

 Plan Ahead 

Before getting carried away by the prospect of getting your services and products out there, it’s important to consider the finer details to make sure all your operations are above board from the get-go. 

• Budgets: There will be a number of costs involved before you begin making a profit. Start by creating a budget and, if you don’t have the capital at your disposal, brainstorm potential funding It may be possible to apply for grants, gain the favour of investors, or take a small, manageable loan. Opt for the solution that works best for your personal circumstances. 

• Taxes: Once your business begins receiving an income, you will immediately become liable for its taxes. Ensure that you have a rudimentary understanding of basic tax concepts. If you feel that this isn’t manageable with everything else you are juggling, don’t be afraid to enlist the help of a professional account – even if it is on an ad-hoc basis. 

• Compliance: Every industry has legislation that you’ll need to abide by if you choose to trade in that particular sector. Make sure that you are well aware of health and safety regulations, financial obligations, applicable licenses, or any other relevant legal requisites. 

• Business Plan: Not only will having an ironclad business plan help you attract potential investors, but it will also help keep you motivated and accountable for your efforts in growing the enterprise. Business plans give you structure and a purpose to confidently work toward.

Create a Website or App 

In the digital age we live in, it’s imperative to make your business as accessible to potential customers as possible. If finding information about your offerings is challenging, you could lose business to competitors before anyone has even tried your products or services. 

Dealing with a reliable and professional development company will ensure that you set up your business’ app and websites well from the get-go. Since there are many app development companies to choose from, take a look at job boards that will give you access to important information like turnaround time, customer reviews, and costs before you commit to a provider and outlay costs. 

Not only will this process legitimize your business, but it also gives you a great opportunity to establish your brand and put effort into the vision and mission of your business. 

Starting a small business involves far more than having a great idea, and since you have additional challenges to contend with, you won’t want to become run down by undesirable business practices before getting your concepts off the ground. Take a little extra time to do the necessary research and planning to gain the trust of investors and give you a fighting chance among your competitors.

ED Carter is a follower and now a contributor to our Blog.

5 Key Partners is focused on helping clients expedite their business development, grow their marketing efforts, and convert prospective customers to loyal clients. Find out more at: www.5keypartners.com