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How to Launch Your Own Business in 6 Simple Steps

How to Launch Your Own Business in 6 Simple Steps

Launching a business can be as easy or as difficult as you make it. We can guarantee it'll be a LOT easier if you follow these simple steps.

1. Research

The service you're offering needs to solve a problem or fulfill a specific need in the market. Are you a dog-walker? A delivery driver? A handyman? Or maybe you want to start your own cleaning business? Whatever it is, ensure your idea is validated and researched thoroughly.

Look into similar businesses and individuals offering the same service as you. Are they successful? Determine what they're doing right, and do it better.

2. Get Clear on your Business Plan

You know that infamous quote – "fail to prepare or prepare to fail" – it's famous for a reason.

You can't organise, lead and control your business if you don't know what you're organising, leading or controlling. In order to do this, it's recommended you create a business plan. Your business plan should include a business overview, projections, an operations plan, branding, hiring, marketing and services guidelines. As your business grows, your business plan will develop, but for now – keep it clear and easy to follow.

3. Get Clear on your Finances

Don't be intimidated by the 'F' word! Sit down with yourself, business partners or any other relevant members in your business and start recording estimated start-up costs (licenses, equipment, marketing), expenses, ongoing fixed and variable costs and salaries.

From here you'll need to determine whether these costs can be afforded, or explore external funding avenues (small business loans/grants, angel investors, crowd funding). Another important aspect of your finances involves accounting. Will you be overseeing this yourself via an accounting software, employing an in-house accountant or partnering with an external accountant?

4. Business Structure

Will you be operating as a sole proprietor, in a partnership or as a private/public company? We recommend researching the qualities of each business structure, or contacting a professional to assist. As your business grows, you will be able to change this.

5. Business Name

Okay, now it's time for the fun stuff.

Your business name is one of the most important elements to how your future clients see your business. It defines your brand, and ideally will define your business. Choose a name that is simple, memorable and relevant.

Now that you've decided, you'll need to check whether it's already being used or trademarked. If all clear, register your business or company name with the appropriate division in your country.

6. Promote your Business!

Chances are, since you've launched a brand new business, not a lot of people know about it. There are multitudes of different ways you can promote your business, both for free and at a huge cost.

The LocaL2LocaL mobile services app is an ideal way to promote your new business, as it connects registered Service Providers directly with Service Seekers, and facilitates payment immediately through the app. Instead of you searching for your ideal client, your ideal client searches for and finds YOU.

There are many services currently listed including trades, cars, pet care, handyman and tutoring. If you are able to assist a local, then create an account and select from the list of services you wish to provide.

The LocaL2LocaL App is free to download from the App Store or Google Play, and signing up takes minutes.

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