5 top tips for setting up a small business

So much goes into setting up a new creative business, and being ready is half the battle. Clarity knows just what's involved, like these basic tips to consider at the start of the planning stages.

1. What's your why?

This is an age-old question in everyone's professional and personal lives, but for business start-ups it's especially important. You may hear it mentioned as a 'goal' or a 'target'. Ultimately, you have to plan out your motives before you can begin to think about office space or paper clips.

2. Do your research

Who else is doing what you want to do, and how are they doing it? There's nothing to stop you doing the same thing, even in the same area, but you need to make sure your business is viable. From time management and profit goals to market research, do your homework.

3. Make a map

Your business plan will be the holy grail of all you do, so it's important to get it right at the outset. A business plan should clarity your objectives, strategies, and sales goals. You might well see it morph and flex as your business grows, but the skeleton should remain solid.

4. Organise your finances

This point might just as well be number one, as starting on the right financial footing is such a crucial aspect. Will you use savings, a loan, investors? What's your projected cash flow, and what are your overheads? Have you considered ad-hoc expenses, emergency funds? Don't be afraid of financial overwhelm: tackle it early on and you'll be off to a good start.

5. Get the word out

Every business needs a marketing plan, from paid ads to networking and beyond. You'll need a press release plan, a strategy for targeting social media platforms to attract customers, and more. If you've successfully worked out point two, you should know exactly who to target!