How to set up and run a small business

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With the enduring popularity of entrepreneurial TV shows, a lot of attention is paid to finding a great business idea by the media.

To work out if your idea is brilliant or will bankrupt you, there are four key questions to ask before you get started.
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Why do some businesses appear to steam ahead, recording rapid year on year growth, when others even in the same sector, with the same market opportunity, lag behind, recording poor growth or often no growth at all.

Of course, every sector will have its own nuances, however there are some barriers to grow that every business owner (and aspiring business owner) will need to address if they aim to punch above their weight. Continue…

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Hundreds of thousands of new businesses are formed each year. Some will be a great success, but the vast majority will no longer exist in five years time.

So if you are thinking of starting a business, what can you do to increase your chances of success? Continue…

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A key skill for business owners is the ability to deliver a successful business pitch. A pitch can take many different forms, it might be pitching for contracts with possible new customers, highlighting potential opportunities to new partners, persuading talented individuals to join your team, or trying to win investment to grow your company.

With the ability to pitch being such an important tool in a business owners armoury, here are some simple steps you can take to give yourself the best chance of succeeding with your pitch and getting that handshake.
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Chris Robson, author of Confessions of an Entrepreneur provides some helpful tips on how to survive the initial stages of starting up a new business.
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To create a successful business you need four things – a good plan, a good product that people actually want, good people who can make things happen and a good supply of money.

Running a business is also a way of life, which invariably takes up a lot of your time, so when you are starting a business choose something that you enjoy doing, something you have a real passion for. Continue…

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Setting up a business is an exciting, thrilling and all encompassing challenge! Personally, I think it is the best and most stretching form of personal and professional development that a person can do.

Creating and selling your own products and services, building a network of happy customers and managing your own time are just three of the perks that come with the job.

But all too often, I meet entrepreneurs who are burnt out, stressed and lacking in sufficient income. This is often because they did not trial their business ideas before they got stuck in. So today, I want to convince you to access the power of the ‘pilot’ factor!
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Here are 10 tips from the ByteStart team for anyone who is thinking about starting a new business in 2014.
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When you’re starting a new business, there are plenty of things to take into account – finding suppliers for any physical goods, suitable premises, a strong customer base, and so on.
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While many business start-ups focus on trying to come up with a single ‘killer’ business idea and attempting to raise funding for their grand vision, this is the wrong approach according to the author of the fastest selling business book of 2013 so far.

Here’s why entrepreneur, and author of ‘The Millionaire Dropout’, Vince Stanzione, thinks you should forget about the big business idea and just get on with starting your small business -
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If you think lack of time is stopping you from launching your own business, think again. In this guide, we look at how you can realistically start your own small business by working in the evenings.
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Once you’ve made the decision to start your own business, the natural instinct for many is to charge headlong into getting it off the ground right away.

Starting your own business might have been something that’s been at the back of your mind for years, and now that you’ve finally decided to take the plunge, you don’t want to waste any more time.
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There are currently over 800 different businesses operating as franchises across the UK. Some of the more instantly recognisable brand names that offer franchise opportunities in the UK are Domino’s Pizza, McDonalds and Subway.
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If you want to make your start-up business more profitable, alongside the quest for more sales, and better margins, there are a number of things you can do to make your new business more efficient.
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Most of us have seen Dragons’ Den, and long-term fans of the BBC programme can spot a good pitch almost as soon as it begins – but what are the secrets to making sure your pitch goes well? And how can you avoid the pitfalls, particularly when your product is yourself?
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Your brand is your identity and in a tough market place it can be the thing that separates you from the competition and grabs the attention of potential new customers.

Remember you’ve only got a very short space of time to capture the attention of new customers, so whether it’s the design of your business cards and marketing collateral, your website or even the name of your company, these things really make a difference when it comes to winning business. Continue…

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Setting up or running a business of your own takes a certain set of skills, and you might think they’re the same ‘transferable skills’ that employers look for in top-class job candidates.
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So, you’ve got your eBay seller account successfully set up, and you’ve learned the basics of listing products for sale – now, how do you make sure shoppers buy your items, and not those of your competitors?
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Plenty of people choose to sell some of their possessions on eBay, or to deal in items bought especially for resale on the internet auction site.

If you want to join them, there are a few things to consider that will help you to gain a positive reputation quickly, and to sell your goods with fewer hitches.
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John Sollars, the serial entrepreneur behind Stinkyink.com provides some useful tips for ByteStart readers on how to survive the start-up phase.
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