Business Startup, Getting on the Right Tracks
If you’re starting a business journey, then there’s a lot to learn and a lot to think about.
Business Startup, Getting on the Right Tracks
Taking place on Thu, 9 Nov 2023 10:00 at:
UWE Enterprise 1 Filton Bristol BS34 8RB
Register
You’re an expert in your field, but where are you with forming a business, understanding partnerships or Limited Companies, marketing, sales, bookkeeping, team dynamics, administration, funding … and so much more.
It’s important to learn, to understand and to decide what you can handle, and where you need help and mentoring.
This event will create a space for those starting new businesses to question, find out what they need to know and be signposted to help in making the right decisions early in the process.
5 tips for start-ups
- Validate your business idea – Test your assumptions and conduct market research to ensure there is demand for your offering. Get real customer feedback early on.
- Build an MVP – Launch an affordable, minimum viable product to establish market traction. Don’t overengineer too early.
- Manage cash flow – Monitor income and expenses closely. Find ways to conserve resources. Build 6-12 months of runway if possible.
- Assemble the right team – Partner with or hire people that complement your skills and fill capability gaps. Value execution as much as ideas.
- Stay nimble – Be ready to adapt quickly whether it’s pivoting on product features or responding to new opportunities. Stay lean and agile.
Bonus: Automate when possible – Use tools and apps to automate administrative tasks so you can focus on high-value work.
Lay the right foundation in these early stages and you greatly increase your odds of start-up success. Stay scrappy, take smart risks, leverage partnerships and build incrementally.
