There can be many costs involved in creating, running and maintaining your business. With so much involvement in the day-to-day upkeep, it can be difficult to see how you can run things more smoothly or where you can improve on your operations. This is where business analysis comes in.
Analysing a business involves a specific set of activities, which allows owners and stakeholders to look objectively at the needs of an organisation, its problems and most importantly, find solutions for it, very often before its too late.
The first steps into business can be exciting and scary. They can also be the point where most get lost or give up. You have the idea, you have the skill, you have the time but do you have the finance?
Not every business will need a business start-up loan but if you have established that it will, don’t get lost in the options or overwhelmed with where to begin. There are many options.
How do I know if I qualify for a government start-up loan?
Starting a business is a big undertaking and the fact is that most fail within the first year. Here are some of the crucial steps to think about in the very early days:
It almost goes without saying, but the key starting point for creating a business is an idea. However, not all good ideas become good businesses. You must ask yourself, is there a market for this idea? The tried and tested way to find this out is research. Not only do you need to know if a market exists, you need to work out what type of marketing, pricing and business model will best attract your target customers.
When the transport company that David Boore was working at folded, David knew that one particular customer had a requirement which he felt he could manage.
The customer was a local council in North London and they were responsible for underprivileged and children with special needs, who needed transporting to and from school. The collapse of the transport company David worked for in the middle of a school term and just weeks from Christmas, meant that the council had an urgent problem. David contacted the council and offered his help, but the reality was that the council needed 16 mini-busses specially adapted for disabled passengers along with 16 drivers and someone to oversee the whole operation.