6 Things To Do When Starting Out In Business

by | Jul 4, 2018

Taking the plunge and running your own business can very nerve-wracking, particularly if you are leaving a reliable and steady position in the process. But if done right, it is extremely gratifying and could open up many incredible opportunities that you never thought possible. Dreaming is good – making those dreams a reality is even better – although it should always be backed with sound financial support and a little bit of common sense. Here is a list of some of the things you need to do when you are starting out in business aside from the obvious coffee pot; you are definitely going to need it!

  1. Build a business plan

A business plan should be one of the first things you should do when opening a business. If you have already set up a company and skipped this step, then it is worth backtracking and writing one out to help refocus your approach. Your direction should always stay true to your business and will act as a map throughout your business journey. Just as any self-respecting road trip needs a map or a GPS, your business needs a solid business plan to guide it along each day. Don’t be afraid to think of logistics in the long-term. While it may only be a pipe dream, you want to determine whether you are in it for the money or wish to create a company to hand over to the kids, should you make it that far!

  1. Create a quality website

Many creative entrepreneurs operate purely online before they even consider investing into a brick and mortar store. That is indeed a viable way to begin a business without getting committed to debt or financing in the early stages. If that is the case, and in lieu of the fact you have no office or storefront in which to operate from, a website is your introduction to the world. Therefore, it makes sense that it is of a certain standard of quality to bring in your customers and have them trust you without ever having seen you. WordPress websites are a great way to start, and if you cannot create a simple website yourself, then it is worth hiring someone to assist you.

  1. Set up your social media accounts

Once you have purchased your domain name and created your website and associated email names, then it is a simple operation to set up your corresponding social media pages (Facebook, Twitter, LinkedIn, Instagram, etc.) to begin marketing. As simple as the process is, it is actually one of the most important things you can do. It is the starting point for your business and can improve your online presence quite quickly when paired with a well-thought-out marketing plan. Ask your friends and associates to join in the fun to help you get your business off your ground.

  1. Determine your payment processing

How will people pay you? What form of payment methods do you wish to use? Knowing which methods you are going to run with in the early stages will help you determine the direction you need to head. If you plan to accept direct deposits or even cheques, then you may need to consider opening a bank account in your business name. If you want to receive payments via credit card, then you can set up an online payment processor through your bank, or enable your PayPal account to receive payments from your new business. The more options you present to your customers, the better.

  1. Outsource the tasks that you cannot do yourself

Unless you are an incredibly talented and knowledgeable individual, chances are you are going to encounter things that you don’t know how to do. If you lack the skills to complete them, or don’t have the time, then consider outsourcing as an option. Whether it is setting up your website, bookkeeping, writing, marketing or administration, there are a lot of talented people that are looking to work with new businesses. If you don’t intend to hire any other employees in the early stages, then outsourcing is the smart way to go.

  1. Check your attitude

When owning your own business, you need to be a little bit confident even without being able to see the full picture. This may mean that you have to check your attitude so you can continue to make the best decisions for your business without second-guessing yourself. Do not feel the need to give things away or discount your services as this can be an unhealthy approach to winning over new customers. Once your prices are set, then it can be hard to raise them to a more sustainable level. If you are not afraid to fail, then you will be more likely to look out for ways to build your business.

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What our clients are saying...

I have had many a chat with Sophie on the networking circuit. Sophie has a strong profile and reputation within business circles and I wouldn’t hesitate to recommend her to any soho needing direction, support and encouragement. I have a passion for educating small business myself and wholeheartedly support Sophie in her endeavour to actively reduce costs for those who may be unintentionally making uninformed decisions relating to business management. Many business owners are unnecessarily outsourcing tasks which are misdirected or can be achieved inhouse.

Gai Hook
Virtual Sales Strategy

2017-10-13T09:32:05+00:00

Gai Hook
Virtual Sales Strategy

I have had many a chat with Sophie on the networking circuit. Sophie has a strong profile and reputation within business circles and I wouldn’t hesitate to recommend her to any soho needing direction, support and encouragement. I have a passion for educating small business myself and wholeheartedly support Sophie in her endeavour to actively reduce costs for those who may be unintentionally making uninformed decisions relating to business management. Many business owners are unnecessarily outsourcing tasks which are misdirected or can be achieved inhouse.
I’ve worked with Sophie as a contributor to Confessions of a Mumpreneur – a fantastic book that she dreamt up, edited and produced. Apart from producing fabulous books that help so many others realise their entrepreneurial dreams, Sophie is an astute business person who is making her mark on her own terms. Watch this space – I’m sure we’ll see and hear a lot more from Sophie Andrews in the years to come.

Jennifer Dalitz
Gender Diversity expert, Career Coach, Award winning blogger on women, work & leadership @ www.TheSheEOBlog.com

2017-10-13T09:50:01+00:00

Jennifer Dalitz
Gender Diversity expert, Career Coach, Award winning blogger on women, work & leadership @ www.TheSheEOBlog.com

I’ve worked with Sophie as a contributor to Confessions of a Mumpreneur – a fantastic book that she dreamt up, edited and produced. Apart from producing fabulous books that help so many others realise their entrepreneurial dreams, Sophie is an astute business person who is making her mark on her own terms. Watch this space – I’m sure we’ll see and hear a lot more from Sophie Andrews in the years to come.
I got to know Sophie through my previous employer where Sophie still handles the bookkeeping side of things. While we worked together I have found Sophie very accurate, punctual and very pleasant to work with. And recommend her highly.

Dianna Holwerda
Client Service Manager, John Sergeant Associates Pty Ltd

2017-10-13T09:55:05+00:00

Dianna Holwerda
Client Service Manager, John Sergeant Associates Pty Ltd

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I was recommended to The Accounts Studio at a networking event and have been working with them for the last 2 years. The team have all been very approachable and available – two things essential when it comes to understanding your accounts! I now no longer have the stress every three months of getting my BAS correct and even better I have a clear understanding of where my company is financially! Thanks Sophie and TAS team!

Eleni Mitakos
Galmatic Pty Ltd

2017-10-13T04:16:02+00:00

Eleni Mitakos
Galmatic Pty Ltd

I was recommended to The Accounts Studio at a networking event and have been working with them for the last 2 years. The team have all been very approachable and available – two things essential when it comes to understanding your accounts! I now no longer have the stress every three months of getting my BAS correct and even better I have a clear understanding of where my company is financially! Thanks Sophie and TAS team!
I have really enjoyed working with you guys and look forward to a successful 2013. From the moment we started with TAS I have seen value. The figures are accurate, you are accessible (and approachable!) and most of all – you are cool people!

Chris Du Plessis
Managing Director, Origin Meat Pty Ltd

2017-10-13T04:20:03+00:00

Chris Du Plessis
Managing Director, Origin Meat Pty Ltd

I have really enjoyed working with you guys and look forward to a successful 2013. From the moment we started with TAS I have seen value. The figures are accurate, you are accessible (and approachable!) and most of all – you are cool people!
"Sophie is so professional – careful, attentive and punctual – she has made managing my accounts not just easier, but a whole lot less stressful"

Fast Ed
TV Chef from Better Homes & Gardens

2017-10-13T04:23:15+00:00

Fast Ed
TV Chef from Better Homes & Gardens

"Sophie is so professional – careful, attentive and punctual – she has made managing my accounts not just easier, but a whole lot less stressful"
Sophie has been a tremendous support and guiding light for my business. I have continually succeeded when acting on her advice and by using her services. Her products are fantastic and her ideas and accuracy is out of this world. I would never hesitate to recommend Sophie’s services and I would invite anyone to contact me for a referral.

Belinda Grundy
GM, Property Styling Online and BG Property Styling

2017-10-13T09:21:50+00:00

Belinda Grundy
GM, Property Styling Online and BG Property Styling

Sophie has been a tremendous support and guiding light for my business. I have continually succeeded when acting on her advice and by using her services. Her products are fantastic and her ideas and accuracy is out of this world. I would never hesitate to recommend Sophie’s services and I would invite anyone to contact me for a referral.
Sophie has the spirit of the Entrepreneurial Business Owner! Whether she is running a successful single family website, creating a product for small business owners or running her own bookkeeping agency she is always right on track as to what small business needs. If you want to speak to someone who not only knows what business owners are going through-she also does something about it- then don’t miss out, connect with Sophie! She is someone who can not only think outside the square- she has true strategic thinking; which is often spoken about but is rarely truly placed into action.

Sue Heins
Councillor at Warringah Council

2017-10-13T09:25:16+00:00

Sue Heins
Councillor at Warringah Council

Sophie has the spirit of the Entrepreneurial Business Owner! Whether she is running a successful single family website, creating a product for small business owners or running her own bookkeeping agency she is always right on track as to what small business needs. If you want to speak to someone who not only knows what business owners are going through-she also does something about it- then don’t miss out, connect with Sophie! She is someone who can not only think outside the square- she has true strategic thinking; which is often spoken about but is rarely truly placed into action.
Sophie is an amazing business woman. She is able to take the complexities of business and break them into manageable pieces for small and home based business owners to work with. She’s clever, creative, supportive and very generous. She’s the reason that so many small businesses are doing so well. If yours is a small or home based business then Sophie is someone you need to know.

Anne Maybus
Writer and Content Creator, Clever Streak

2017-10-13T09:26:35+00:00

Anne Maybus
Writer and Content Creator, Clever Streak

Sophie is an amazing business woman. She is able to take the complexities of business and break them into manageable pieces for small and home based business owners to work with. She’s clever, creative, supportive and very generous. She’s the reason that so many small businesses are doing so well. If yours is a small or home based business then Sophie is someone you need to know.
Sophie is efficient, direct and gets the job done. She responds quickly, keeps me updated and has a way of simplifying things and making my life easier. She is all about efficiency and that’s what makes it great to work with her, I highly recommend her to anyone who wants someone to efficiently look after their books and she is great value for money too.

Adam Dobson
Strategic Resourcing Manager

2017-10-13T09:28:24+00:00

Adam Dobson
Strategic Resourcing Manager

Sophie is efficient, direct and gets the job done. She responds quickly, keeps me updated and has a way of simplifying things and making my life easier. She is all about efficiency and that’s what makes it great to work with her, I highly recommend her to anyone who wants someone to efficiently look after their books and she is great value for money too.