10 Simple Steps to Starting a Successful Business

In this section we will identify all the reasons why people set up their own business. This will help you identify your 'Why' which will be your driving factor behind your success.

We will discuss 14 different reasons you may want to set up your own business and what this can mean for you.

In this video we will look at who should set up a business to help you identify where your desire to become a business owner comes from.

We will look at whether you are acting;

• as a solution to a problem

• due to a passion for a particular industry

• as you are a trained or qualified professional

• or you have a passion for helping people.

Here we will look at 12 key traits of all successful business people.

From this you will be able to identify which traits you already have and those you are lacking. This will then enable you to build on any weaknesses to ensure your business is a success.

Here we look at 7 key reasons why businesses fail. Understanding why businesses fail is crucial to your businesses success to enable you to navigate through storms and avoid potential pitfalls.

Here we look at an overview of the 10 steps to starting a successful business.

We will go through each individually in more detail in the upcoming lectures.

In step 1 we will look at idea generation and why you DON'T need to reinvent the wheel to be successful.

In step 2 we will look at what is market research and why it is important.

We will also discuss 5 key ways you can carry out market research.

In step 3 we discuss resource planning. This gives you the opportunity to consider the human resources you will need, as well as products, the place you will operate from, financial resource requirements and how much time you will need to dedicate to your business.

In step 4 we look at costing considerations. This includes the start up money you will need to launch your business as well as the ongoing expenses of the day to day running of the business.

We also look at the various growth stages of a business and how you need to plan for each stage.

In step 5 we look at what is a MVP and why you should use a MVP to test the market.

Here we look at 4 different types of business structure so you can established which is the best for your business.

You may also need to switch from one to another at a certain point in your businesses journey, for example going from a Sole Trader to Limited company.

In step 7 we look at what is branding, and what you need to create your business brand.

In step 8 we are looking online presence. We discuss what is online presence, why is it important, and what does it include.