Nibletz Staff
Brand new businesses are of the utmost importance in terms of economy and unemployment.
They create new jobs, and new opportunities for people that otherwise would not have had any. They pump money back into our most valuable industries by purchasing raw goods, that then go on to serve a wider market.
In short, creating a startup is a fantastic idea. If you’re on this blog post – and this website in general – then it’s safe to assume you have an interest in them! Perhaps you’ve already begun generating ideas, and creating assets.
Whatever stage of the process you’re at, have a read through the following few steps to ensure you don’t fail at the first hurdle.
Adopt a fresh approach.
Business is all about creativity, passion and filling a gap in the market. If you aren’t unique enough to set yourself apart from the rest, why bother?
This doesn’t mean you have to create a product we’ve never seen before. You can absolutely enter an existing space – it’s all in the execution. Think of how many sports and shooter video games get released each year. They’re similar core concepts, but are executed differently.
This difference will largely be in your branding and marketing. For example, if there was already a food company aimed at kids and one aimed at adults, you could make one for seniors. Identify what the market needs, and supply it!
Register your trademarks.
Your business can’t defend itself, so it’s up to you! Everything from your logo to the product you sell counts as intellectual property, and you’ll need to register them.
Filing your property protects you from theft – trademark lawyer Xavier Morales will tell you it’s vital. Imagine you poured your heart and soul into building something, only for another company to swoop in and steal it from under your nose? Not cool.
Permits, insurance and licenses.
This all depends on the industry you enter, but you’ll need some basic things too. You’ll first need to register as a sole trader, so you can pay the right amounts of tax to the taxman.
You need licenses for pretty much everything these days, from music to alcohol and even a radio. You’ll need a basic business license, as well as a permit from the fire department if your company uses any flammable solutions.
There are dozens more – too many to rattle off here! Just make sure you read up on them so you know what’s what.
Build the right team.
There are many benefits of surrounding yourself with like minded people.
Success breeds success, and if your team is as heavily invested in the business as you are, you’ll go far. I’d start by recruiting people based on general skills rather than specific ones. The reason? Specific skills can be taught.
These skills include SEO, manufacturing, editing, anything relating to the operation of your company. General skills like team-building cannot be taught however, so your staff need them upfront.
Have you built a startup in the past? How did you get there? Let us know in the comments below!
