Blog Categories

 

Let's Get Connected!

 01626 833828

facebook-icon  twitter-icon  linkedin-icon  email-us-icon

Tuesday, 11 November 2014 12:22

6 questions that are the foundations for a successful startup

Rate this item
(0 votes)

You’ve decided that you want to start your own business and be your own boss but before you charge head first into the struggle of starting a business, here are 6 questions you must know the answers to in order to prevent your business from crumbling further down the road!

 

1. Why do you want to start your own business?

This is the first and probably most important question you should ask yourself. If the answer is that you’re fed up of your boss – stop now! Just find another job. However, if you are certain that starting your own business is what you want to do then make sure you are prepared. It is not easy – even when the business is established and turning a profit.

2. What will your business be?

It’s essential that you have a clear idea of what your business will be, where you want to take it in the future and what products or services you will offer. In other words, you need a well defined core service and a comprehensive business plan for at least the first 3 years.

3. Who will your customers be?

You need to have a well defined core customer base. For example, if you’re thinking of opening a hairdressing salon it’s not enough to have a target audience of women who want to look good. Will you have more than one type of customer and therefore several different target audiences?

4. What will your customers want from your business? 

You must delve into the psyche of your customer. For instance, if you’re a butcher, your customer doesn’t just want meat – if they did, they’d be at the supermarket! Your customers come to you because they want top quality meat from an expert who can recommend and prepare the exact cut they need for the meal they are planning because they want to prepare a great meal for their friends or family. So, dig a little deeper and tap into the emotions that drive a customer’s behaviour and you can see that what a butcher’s customer may really want is to spend quality time with loved ones.

5. Who will you be competing with?

Your competitors are where your target customers currently go to when they want your product. You need to identify each and every one of them and find out as much about the services and the products they offer. Ask yourself questions like: what is their product offering? Do they offer complimentary services? Are they allied with complimentary businesses? What is their level of service? What price level do they offer? Where are they located? Do they offer services online and offline? You need to know as much about your competitors as you do about yourself!

6. Why should your target customer choose your business?

Now you know who your customers are, what they want from you and where they shop, you need to persuade them that they should choose you over your competitors. While for some businesses, location may be enough to persuade customers to choose you, for most businesses it is likely that success will come down to more than just where you are located. Ask yourself what will set you apart from the rest.

If you know the answers to these questions before you start then you’ll have given yourself a great chance of success but remember that this is only the start and this list of questions is not exhaustive. The more question you ask yourself, the greater your chances of success!

 

Disclaimer

The information contained in this Blog is intended solely to provide general guidance on matters of interest for the personal use of the reader, who accepts full responsibility for its use. The application and impact of laws can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in information contained in this Blog. Accordingly, the information on this Blog is provided with the understanding that the authors and publishers are not herein engaged in rendering legal, accounting, tax, or other professional advice or services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser.

While we have made every attempt to ensure that the information contained in this Blog has been obtained from reliable sources, One Plus One Ltd is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in this Blog is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. Nothing herein shall to any extent substitute for the independent investigations and the sound technical and business judgment of the reader. In no event will One Plus One Ltd, or its partners, employees or agents, be liable to you or anyone else for any decision made or action taken in reliance on the information in this Blog or for any consequential, special or similar damages, even if advised of the possibility of such damages.

Read 910 times Last modified on Wednesday, 05 October 2016 16:32

what our clients say

  • One Plus One Accountants have been an invaluable support to me and my business. Simon guided me right from the beginning when I was still deciding whether to set up as a Sole Trader or limited company. I have had support with incorporation of the business, payroll for our first employee, VAT... Read more >>
    Hummingbird HR Ltd

  • We have enjoyed the services of One Plus One Accountants since taking over our business 10 years ago. We were recommended to use them and have been impressed with the knowledge and expertise of all staff. The staff have the ability to explain complex tax and employment issues in a language that is... Read more >>
    Meadfoot Beach Café

  • Since working with One Plus One Accountants we have been more than satisfied with the quality of service we have received. The staff are always very pleasant and helpful. We would have no hesitation in recommending them to others.... Read more >>
    Shirley and John Eatwell

  • A few words about One Plus One. I have enjoyed the excellent advice I have got. It has enabled me to feel my best tax position has been obtained with the least effort from myself. I would recommend them to anyone for the best possible result. All the staff are most helpful and knowledgeable.... Read more >>
    David Punter

  • One Plus One Accountants have proved themselves time and time again over the last 2 years and have helped us to strengthen the control of our company. The staff are friendly, reliable and continually give a good professional service, whilst maintaining very competitive charges. We do not hesitate... Read more >>
    Nevada Construction Ltd

  • Since working with One Plus One Accountants we have found them efficient and kept our accounts in good order for the last 30 plus years. We have been impressed with their services and find them approachable at all times including regular impromptu meetings to discuss our business in a friendly and... Read more >>
    J Melhuish, Teignbridge 76 Social Club

  • My company has had the great pleasure of working alongside One Plus One Accountants for the last 12 years. They have as a team over the years assisted us with many different business issues, their advice & knowledge has helped me to understand how a business works and how to grow from a one man... Read more >>
    Katherine Bainbridge, R B Engineering

  • Through our association with One Plus One, we have found the staff friendly, knowledgeable, efficient, helpful and very responsive to any problems, and we can all have them. Long may it continue.
    Thank you and wish you all the very best for the future.... Read more >>
    Pat Newport, Motoplan Ltd

  • Changing our accountant was not the easiest decision to make but making the move to One Plus One has proved to be a great decision.
    You would not always expect to find professional efficiency hand in hand with friendliness and approachability but that is exactly what we found.
    We are... Read more >>
    Louise, Tackle Trader

  • As a busy award winning group of hair salons we need to be able to rely on good sound advice, prompt attention and expert handling of our financial affairs as we simply do not have time! One Plus One Accountants have now looked after us here at CRC for some 14 years providing a first class,... Read more >>
    Karen Dodds, Cutting Room Creative

  • I have been a customer of ‘One Plus One Accountants’ in its different guises for over 25 years, and have always received an excellent service from a locally based firm. With the formation of our new company a year ago, we needed the stability and confidence that ‘One Plus One’ gives us. We... Read more >>
    Nick Yabsley, RPM Renewable Energy Ltd

  • I moved my accounts two years ago from a well know accountant practice in Exeter after being charged such high fees for what I considered a relatively easy task. After a visit from Simon Lukies of OnePlusOne I was convinced it was time to move even though I had been with the other accountants for... Read more >>
    Alan Wills, Owner Remedies Laser and Skin Care Clinic Topsham

  • I have used one plus one since they took over from
    Ashley Dawes and they have been brilliant. As a sole trader my accounts are straight forward, but I am what they must think, a nightmare customer!! I am always chasing my tail, approaching January to submit my accounts to them, despite... Read more >>
    Wayne Stamenkovic

 


a few of our clients ... 

one plus one accountants merristem logo

one plus one accountants rb engineering logo

one plus one accountants cutting room creative logo

one plus one accountants teignmouth logo

one plus one accountants remedies logo