Business Start-Up – The Ultimate Checklist

If you have a fantastic business idea and you are ready to take it a step further, a lot of research is needed and if, after crunching the numbers, the project is doable, the next step is to create a business plan. Your business plan should be your guideline in every respect and when you think the plan is complete, hand it to a business coach and ask him to comment.

In order that nothing gets overlooked, here is our ultimate business start-up checklist.

• Organisation flowchart –This shows who is responsible for what and a copy should be in your business plan. Most small business owners try to do everything themselves, which usually leads to issues, whereas delegating ensures you are not overloaded.

• Business registration – It has never been this easy to set up a small business here in Australia, indeed, the entire process can be completed online, which is great!

• Website design & construction – Of course, every business must have a digital presence and the good news is, that you can find a single provider to design, build and host your company website. They will also administrate the platform if you don’t have the time or know-how.

• VoIP business communication – If you decide on a video conferencing solution from a leading Australian telecommunications company, your communication costs will be affordable.

• Funding – You should know exactly how much money you need to launch the enterprise, plus you should keep other funds to get you through the first 6 months. The main cause of start-up failures is lack of money; if need be, you can apply for a business start-up loan from a leading Australian finance company.

• Commercial insurance – In order to minimise risk to the enterprise, you need to take out a few insurance policies. Your business premises, all commercial vehicles, stock and company assets should all be covered. You can also insure against compensation claims; talk to a commercial insurance broker, take out the right policies and protect your business.

• Bookkeeping & accounting – This is not something you can leave until later; set up a daily bookkeeping routine and allow your accountant access to your secure cloud network. Scan all receipts and follow your accountant’s advice re keeping records.

• Digital marketing plan – You cannot expect to reach your target groups without a sound digital marketing plan and the best way to do that is to engage the services of a leading Australian digital marketing agency. Search engine optimisation and social media should be included in your plan and with ongoing work, you will get the essential exposure you need.

Setting up a business is an exciting time and with a lot of planning, hard work and a little good fortune, your business will grow from strength to strength. One thing you do need is flexibility; situations can change at the drop of a hat and you need to act fast sometimes.

Of course, management should be monitoring the business at all times and marketing should be on point, and we hope that this checklist helps you in your journey.