Launching a Start Up Business?

Launching a Start Up Business? Spare a Thought For These!

Is this the first time you’ve tried to set up your own business?

Whether the answer to that question is ‘YES’ or ‘NO’, there are certain things you need to know about start up businesses. The life of an entrepreneur is more or less like a roller coaster. There are highs and lows to it, but the best part is that it all comes with valuable lessons. Start up businesses that succeed – there aren’t many – are usually the ones that learn from their experiences.

Establishing a start up business in Huntingdon, Peterborough, or somewhere else in the UK is a not an impossible feat. The process is rather simple. However, before you get to the process of setting up a new business, there are a number of things you need to iron out and these include:

The Business Plan

There is a common misconception among amateur entrepreneurs that a business plan is only good for obtaining finance. While obtaining finance is one of the main objectives of drafting a business plan, it is not the only thing you need it for. You need to understand that starting a business requires a vision that ultimately converts into a series of goals your business sets out to achieve, but without the path that leads to these goals, how do you plan to accomplish them? It is easy to come up with an innovative business idea – however, unless you can execute the idea well you don’t stand a chance of succeeding. Your business plan is the execution strategy that maps out your route to achieving your goals.

The Focus

Having your focus on the right things is crucial. You can’t be operating a business in 2016 based on the market principles and business strategies you succeeded with back in the year 2000. Business environments and industry dynamics are forever evolving. You need to keep abreast with the latest developments and integrate them into the structure of your business to keep it focused and steady – and you need to do all this before starting the business. Focus on one industry, one market niche, and one product/service when you begin. Once you get a strong foothold in the market, there will be plenty chances to diversify!

The Anchors

A number of start-up businesses employ friends and family in key positions in the business. They’re the ones you trust most and there’s no harm in that. However, the same family and friends may at times become anchors that weigh you and your business down. For example: you hire your best friend to manage your accounting and bookkeeping. A few months into the business you realise they have begun taking the position for granted and are proving to be a bad fit. What do you do? You pull the plug and look for better alternatives like a professional bookkeeping service!

As minor as these considerations may seem – they matter. Time and again they have proved to be the difference between a successful start up and one that couldn’t survive even as long as the first 5 years.

Let’s not sugar coat it. The idea may seem intriguing and the process may be efficiently handled with professional assistance, but setting up and running a business is not everyone’s cup of tea. It requires resolve and commitment; above all it requires the drive that forces you to stand up after every fall.

For professional help, get in touch. If you found this information useful, we’d love to know! Feel free to share it so others can benefit too.

If you are in a start up situation and need some questions answered call Leslie Wells for personalised, professional advice. Call Les’ Hotline: 07732 090 847 to get in touch with him.

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Testimonials for AK book-keeping

Electronics online retailer

Our decision to choose the services AK Book-keeping and Payroll Services has turned out to be a really important enabler to the growth of our business and has delivered us fantastic value for money. Their accuracy and efficiency in compiling our accounts and payroll documents has allowed us to focus on the things which we do well and add real value whilst removing the distraction of unwanted and complex administration work. I would recommend them without hesitation.

Chris

AK Book-keeping
5
2015-10-23T16:25:46+01:00

Chris

Our decision to choose the services AK Book-keeping and Payroll Services has turned out to be a really important enabler to the growth of our business and has delivered us fantastic value for money. Their accuracy and efficiency in compiling our accounts and payroll documents has allowed us to focus on the things which we do well and add real value whilst removing the distraction of unwanted and complex administration work. I would recommend them without hesitation.

Carpet & Lighting retailer

Now that we have AK Book-keeping doing all our tax returns, wages but to name a few, we have more time to focus on the business and a lot more leisure time

Simon & Cathy

AK Book-keeping
2015-10-23T16:26:07+01:00

Simon & Cathy

Now that we have AK Book-keeping doing all our tax returns, wages but to name a few, we have more time to focus on the business and a lot more leisure time

Multiple Franchise Owner

I Periodically review my resources (like any business should) and on each and every occasion I have decided to retain AK Bookkeeping’s services. It’s one of those business I know I can depend on.

Bob

AK Book-keeping
2015-10-23T16:44:40+01:00

Bob

I Periodically review my resources (like any business should) and on each and every occasion I have decided to retain AK Bookkeeping’s services. It’s one of those business I know I can depend on.

John – Building Company owner

We engaged AK Book-keeping some two and a half years ago, from the outset their communication has been excellent. We were provided with a schedule of monthly costs and a clear indication of what was included. To date we have had no reason to consider changing from AK Book-keeping as their service has been reliable, efficient and cost effective.

AK Book-keeping introduced us to Xero accounting system from the outset and for a reasonable monthly fee we benefit from all the Xero facilities available and have access to view our account, use data and monitor our performance and it is all relatively simple. We would recommend AK Book-keeping and the Xero system.

John

AK Book-keeping
2016-02-05T16:33:23+00:00

John

We engaged AK Book-keeping some two and a half years ago, from the outset their communication has been excellent. We were provided with a schedule of monthly costs and a clear indication of what was included. To date we have had no reason to consider changing from AK Book-keeping as their service has been reliable, efficient and cost effective. AK Book-keeping introduced us to Xero accounting system from the outset and for a reasonable monthly fee we benefit from all the Xero facilities available and have access to view our account, use data and monitor our performance and it is all relatively simple. We would recommend AK Book-keeping and the Xero system.

Online Retailer

Les has worked with us for 12 years now and supported our Bookkeeping and Payroll needs. Always helpful, cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of Bookkeeping.

Online retailer

AK Book-keeping
5
2018-07-02T22:05:34+01:00

Online retailer

Les has worked with us for 12 years now and supported our Bookkeeping and Payroll needs. Always helpful, cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of Bookkeeping.

Peterborough online retailer

Les has worked with us for 12 years now and supported our bookkeeping and payroll needs. Always helpful and cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of bookkeeping.
AK Book-keeping
5
2018-09-19T18:24:06+01:00
Les has worked with us for 12 years now and supported our bookkeeping and payroll needs. Always helpful and cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of bookkeeping.
5
3
AK Book-keeping