Business start-up check-list and questions
Below is a check-list of all the steps needed to completed when setting up a business. If you need more of a customised approach to your business set-up or growth plan please contact us.
1. Decide on your business niche
- What are you going to offer?
- What is the client going to purchase?
2. Make a high-level business plan with the following items:
- Vision or Mission
- Objectives or financial goals
- Strategy or how you will reach the goals
- Tactics or actions
3. Decide whether you will start as a sole trader or a limited company
4. Choose whether to trade under a company name or simply under your own name
5. If you have a trade mark, register it
6. Make a marketing plan consisting of the six Ps:
- Product/Service – what are you offering? ( for example workshops, one to one sessions)
- Positioning – your specialist area: for example women’s issues, performance anxiety, spiritual growth, grief, stress relief, etc.
- Price – how much will you charge for your product/service? Will you offer any special packages?
- Promotions – how will you let people know what you do? for example networking, word of mouth, website, on-line advertising, face to face introductions
- Place – where will you offer your service? for example at home in a treatment room, at a clinic, in office space, in a hotel, hiring out a meeting space
- Personal development – create your own personal development plan including mentoring/supervision hours, attending courses and – importantly! –time for yourself
7. Register your business or proprietary concern with the local tax authorities (e.g HMRC in for sole trader and Companies House for Private Limited Company in the UK)
8. Get a separate bank account for your business or private practice
9.Get professional insurance in line with local standards. If you wish to work with clients abroad then a premium is required.
10. Find a good local accountant and discuss your business with them
12. Complete any and all legal formalities to be able to start your business, for example when working with children in the UK CRB check is needed
13. Check if you qualify for any local grants or business sponsorships
154Set up your projected income and budget
15. Make a detailed business plan, if any investment is needed
16. Decide on branding requirements:
- Name and identity
- Business message
17. Develop marketing materials
- Business card
- Appointment letters
18. Develop a plan to make people aware of your services:
- Word of mouth
- Networking groups – one minute pitch
- Decide whether or not to advertise
- SEO (Search engine optimisation) is a must
- Pay per click advertising
- Social networking– Twitter/Facebook/LinkedIn
19. Develop a plan to get people interested in your service
- Provide information – free e-booklet links. If you need printed booklet please let us know and will get it mailed to you.
- You Tube links
- Free introductions/talks – of all this is the most important. If you need acess to an Introduction pack please let us know.
- Develop your own story
20. Develop a plan to create satisfied customers
- Referral system
- Follow-up plan
- Take-home cards
21. Identify any IT systems needed
- Book-keeping – cash in and cash out
- Appointment calendar and process
- Audio recorder
- Data Protection Act (Register with Data Protection)
22. Decide on capital requirements
- Furniture – desk/table and chair
- Cabinet to store client records securely
- Flip chart
23. Have a continuing education plan
- Annual case studies
The purpose of a niche is to get your audience tuned into you. It is much easier to market yourself if your niche is clear.
When I come across a practitioner who is unsure of his or her niche I ask: ‘What has EFT given you? How has it changed your life?’ This is your starting point.
When I began my EFT practice I started as an EFT general practitioner (like a GP in the EFT world!). The problem with being a generalist was that people who did not understand what EFT was could not work out whether I would be able to help them.
So I started to share how EFT had changed my life. In my case it had helped me to overcome stress, reduced my migraine headaches and made me feel calmer and happier. So I began in the area of stress relief and relaxation.
With time I realised that my passion was in the area of confidence, especially in helping practitioners to feel more confident in themselves and with their businesses. I now specialise in the area of feeling and being more confident, which entails EFT training, business growth for practitioners and mentoring/supervision.
When starting out your niche might be very clear to you, in which case just follow your heart! If your niche is not clear, ask yourself ‘What has EFT given me? What is my favourite kind of client?’, and write down whatever bubbles up into your consciousness.
2. Is it better to register as a sole trader/proprietary concern or a private limited company?
From my own experience, starting as a sole trader is a lot simpler. As the business grows you might consider registering as a limited company.
To book a personalised business building session please contact us.