Deciding to start a business is a big decision, and one that needs careful consideration. Many people make a new year pledge to go it alone and start up by themselves. But how do you decide whether starting a business is right for you? A good starting point is to consider whether you have the right personal qualities – and, of course, you need a good business idea.
The Ready for Business programme, a unique business start-up programme that helps potential entrepreneurs improve their chances of success, is run by Business West in the Swindon area. Here manager Tara Gillam explains what if offers:
“To be successful in business you might need some of the character traits below, but don’t worry if you don’t have all of them. Having most of them is a great start.
- Ambition – The desire to achieve
- Perseverance – The capacity to power through tough times
- Innovation – The creativity needed to develop new or existing ideas
- Self-confidence – The belief in your product or service
- Knowledge – The ability to make wise business decisions
- Courage – The willingness to take risks
“You also need to ask yourself the following questions to help you plan out your business:
- What is your product or service going to be?
- Is there a gap in the market for your product or service?
- How much money do you need to fund your new venture and where will this come from?
- How will you make sure your products and services are what your customers want?
- Who will your customers be?
- What equipment do you need?
- Do you need premises or can you work from home?
- Do you need to employ people, or can you start out on your own?
“Having the right support can mean the difference between success and failure. It might be important to be able to stand alone, but it is equally important to know when to ask for help. That’s where the Ready for Business programme can really help.”
The Ready for Business programme will help develop an idea, create a clear business plan, and provide expert support up to and beyond the launch of a business.
The programme is also designed to improve the chances of securing external funding. By guiding individuals through five clear development stages, it makes sure that a start-up plan is clear and robust, and also ticks the lending criteria boxes used by high street banks and other lenders in making investment decisions.
For more information contact the Ready for Business team on 01275 376233, email readyforbusiness@businesswest.co.uk. Or go to www.businesswest.co.uk/readyforbusiness or www.startupedge.co.uk
