Success Matrix Enterprise  

Start Planning

 
Forming your Own Business

First things first – what will be the legal status of your business? Will you be a sole trader or will you start a limited company?

  Downloadable PDF - Company Formation

Next, do you know enough about the locality of your business? A Local Area Profile will tell you all you need to know about demographics, employment figures plus it will paint a picture of the area in a commercial sense. This is a useful exercise – and it’s free.

A local area profile can contain topics such as:

•    Essential statistics about your chosen area
•    The business and commercial environment
•    Business rates
•    Local Authorities
•    Support and Resources available
•    Professional services, Workspaces and Networks
•    Travel, Accommodation and Communications
•    Useful facts about your chosen location

PDF Download    Local Area Profile for LINCOLN                                 

Business Planning

We are sure you have heard of business plans, but do you know how to write one?  It’s vital that you prepare a business plan. Some third parties such as banks or stakeholders will want to see your ideas on paper, and the process will help you think through and research how your business will succeed in a systematic way. 

Written by Jenny Ramsdale of JR Associates (Business Development) Ltd: 

  Downloadable Document - How to Write a Business Plan (Word Document)

  Downloadable Document - Business Plan Template (Word Document)

Marketing Plan

You also need a marketing plan.  There are several definitions of marketing – some more technical than others. It was defined some time ago as ‘identifying, anticipating and satisfying customer needs profitably’ but today it is also considered to be about communicating with your customers. Don’t get marketing mixed up with selling – though selling should happen as result of marketing!

Marketing understands what people want, observing changes and market trends. A good marketer can adapt and change.

Written by Jenny Ramsdale of JR Associates (Business Development) Ltd: 

  Downloadable Document - Marketing your Business Guide (Word Document)