Seven key things you really need to get right when starting your own business

Last year, according to the Centre for Entrepreneurs, a record-breaking 772,002 new businesses were formed in the UK – a 13.25% increase on 2019’s total. In more recent years, about 650k had been the annual average, so there’s no doubt about it – the UK is undergoing a start-up boom.

Covid-19 helped to fuel the phenomenal start-up growth last year. During the first three-month lockdown alone, an estimated 315,000 new UK businesses were started in the UK. While some did it following redundancy, others used the time and opportunity they had while at home during lockdown to finally start their own business.

Maybe you’re considering starting up or possibly you’ve already set the wheels in motion. There are many things to get right if your new business is to get off to the best possible start. But, here are seven key things you really need to nail if your new business is to succeed.

1 Come up with a good business idea

Good business ideas generate enough profit – it really is that simple. Some seemingly “good” business ideas don’t work in the real world, the demand just isn’t there. Once you’ve come up with your business idea, find out what others think (don’t just ask friends and family). Find out whether they would buy what you’re planning to sell for the prices you plan to charge. If so – great – you may be on to a winner. If not – think of a better business idea. It could save you a lot of time and money. 

You also must consider how you’ll sell – offline, online or both? Who will you target – consumers, businesses or both?

2 Decide what type of business you’ll start

When will you sell? The options are spare-time, seasonal (eg summer-only), part-time (aka “side-hustle”) and full-time business. Not all businesses can generate enough profit all-year-round. Some may only work at weekends. You also must consider how you’ll sell – offline, online or both? Who will you target – consumers, businesses or both? Will you sell locally, regionally, nationally or internationally? Will start from scratch or buy another business? Do you plan to go it alone or go into business with someone else? You must decide all of the answers to these key questions.

3 Choose the right legal structure

By law, you must register your business and pay all tax due. Most become a sole trader (ie self-employed). Basically, you and the business are the same in law, so you’re personally liable for any business debts. You can go into business with someone else in an ordinary partnership or limited liability partnership. Many people set up a private limited company to shelter them from personal liability. There can be marginal tax savings, too. Whatever you choose, registering can be done online, quickly and for little or no cost. There are formation agents that will do it for you for a fee.

• Visit government website Gov.uk for guidance on how to register a business. 

Successful brands are always distinct. They engage potential customers and encourage them to buy and remain loyal.

4 Create a strong brand
Think of your brand as the associations that would come to mind when customers think of your business. This is much more than your brand identity (ie logo, typeface, colours, slogan), it’s what you stand for – your promise to your customers. Successful brands are always distinct. They engage potential customers and encourage them to buy and remain loyal. 

Get it right and your business name becomes a deadly marketing weapon that distinguishes you from your competitors, announces your business to the world and helps you to attract and retain customers.

5 Pick a good business name

This is one of the most enjoyable tasks when starting a business – but it’s also one of the most important. Get it right and your business name becomes a deadly marketing weapon that distinguishes you from your competitors, announces your business to the world and helps you to attract and retain customers. But get it wrong and it can create negative perceptions about your business and ultimately drive potential customers away. 

6 Create a wonderful website

Even if you don’t sell online, customers will want to find out more about your business before they decide whether to buy. Your website allows them to do that quickly and easily. It may even be how customers find you. Your website should create a fantastic first impression by showcasing your brand, telling potential customers key facts and why they should buy from you. Doing your own website is cheaper, and DIY templates make it possible, but hiring the right professional will ensure better results, while also saving you time. 

7 Get the right support around you

Starting a business involves a lot of learning. You won’t know how to do many things, but others can help you. There are many sources of free online start-up advice, such as the Start Up Donut website, while government website Gov.uk provides guidance to rules and regulations and sources of government support. The startups.co.uk website also offers a wealth of free guidance, while those aged 18-30 can contact the Prince’s Trust for start-up support.

You may be surprised at other business owners’ willingness to share their experience, tips and advice. 

Paying for guidance from an experienced accountant could help you to save money, but seek recommendations from other small businesses. Finding a mentor (someone who has started and run a successful small business) could also really help. Running a business can be a tough at times, but that can made easier with the support of friends and family. You can also reach out to other start-ups and small businesses via Facebook small business groups. You may be surprised at other business owners’ willingness to share their experience, tips and advice. 

• Written for and published by Manage My Website.

The Flip-Flop Philanthropist

Rob Forkan has been on an incredible journey. With younger brother Paul he runs Gandys, which uses some of its profits to help orphans in India – just one reason this fast-growing flip-flop brand continues to win admirers. Rob’s amazing story, which includes surviving the 2004 tsunami that claimed his parents’ lives, as told to Mark Williams, proves that some good can come out of the most terrible tragedy.

Rob Forkan (pictured above right) was born in 1987 in Carshalton and grew up in Croydon. “Our upbringing wasn’t unconventional,” he says, “but mum and dad always encouraged us to go outside and play. Being a couch potato wasn’t an option.”

Kevin and Sandra Forkan were compassionate, fun loving, generous parents

Kevin and Sandra Forkan were compassionate, fun loving, generous parents. “Mum was creative; dad was good at business. They met while working for a car dealership. Later, they ran their own business, selling end-of-line clothes via fashion shows at universities, schools and hospitals. They’d donate back money raised from ticket sales and raffles.”

Rob didn’t have any career ambitions as a child, but showed some entrepreneurial instinct. “I remember earning money from washing people’s cars,” he smiles.

Humanitarian projects

The Forkans had six children – Marie, Joanne, Rob, Paul, Matty and Rosie. They enjoyed travelling and wanted their children to experience other cultures, so, in 2001, after selling their house, Kevin and Sandra took their youngest children out of school and headed for India, a place they’d fallen in love with on a previous holiday. The plan was to volunteer for humanitarian projects. “I was 13, Paul was 11, Matty was nine and Rosie just five,” Rob remembers. “Marie and Joanne were older and stayed in the UK.”

Despite the extreme hardship they witnessed, the Forkans loved India and enjoyed mixing with local people. “We received a ‘social education’,” says Rob. “We were learning communication and negotiating skills and became very confident because we were mainly mixing with adults. There are many life skills that you’re not going to learn from a school text book or classroom in the UK.”

The full force of the tsunami hit Weligama, with a 20-foot wave devastating the hotel, sending water raging through every room

Asian tsunami

Shortly before Christmas 2004, the Forkans flew south to Sri Lanka, their destination, the Neptune Hotel in the small fishing village of Weligama. After a hugely enjoyable Christmas Day on the beach, horror followed on Boxing Day.

“Paul and I were sharing a room and it was just after 8.30am that I heard screams outside,” Rob recalls. On seeing water trickling under the door, he shouted to Paul. Then, the full force of the tsunami hit Weligama, with a 20-foot wave devastating the hotel, sending water raging through every room. “We had to fight for our lives,” says Rob.

He managed to get out of the room and onto the roof, dragging Paul with him. Nearby, while making sure Matty and Rosie got to safety, Rob’s parents were swept away by the water’s force. That was the last time he saw them alive. Kevin was 54 years old; his wife Sandra, just 40.

Mercifully, all four children survived. And while bruised, battered, hungry, exhausted, barefoot and traumatised by what had happened, they managed to hitchhike 120 miles to the international airport in Colombo. “Because we’d been out there doing what we were doing, we’d toughened up a lot,” reflects Rob.

Rob’s parents were swept away by the water’s force. That was the last time he saw them alive

Free spirits

Some time after flying back to the UK, eldest sister Marie (then 21) adopted her three youngest siblings (Rob was too old for adoption) and they went to live in Hampshire. Rob worked briefly as a lifeguard on Bournemouth Beach, before moving back to Farnborough and finding jobs in customer service and advertising/marketing account management.

Neither Rob nor Paul had lost their wanderlust and they explored many countries in South East Asia, as well India, Australia, New Zealand and the USA. Most of the time they wore flip-flops – a symbol of their freedom. Having trained to be a plumber, Paul ended up in Australia, doing various jobs to get by. But inspired by their parents, Rob and Paul remained free spirits.

I wanted to start my own business and create a brand that reflected our upbringing and the outlook our parents gave us

“Despite everything, I still wanted to make a difference,” Rob explains. “I wanted to start my own business and create a brand that reflected our upbringing and the outlook our parents gave us. Many families were devastated by the Tsunami, and many children, like us, were left orphaned. They didn’t have the support we had. I wanted to help.”

After a heavy night at a music festival, Rob woke up with a terrible hangover. “I remember saying I had a ‘mouth like Gandhi’s flip-flop’… That was it! Not only did I have my business idea, but also the beginnings of a brand name. Later I rang Paul and he loved the idea. Soon he returned to the UK and in late 2011 we launched the business – Gandys – from my flat in Brixton. We changed the name because we didn’t want to cause any offence.”

Passion, change, hope and inspire are key words for us

Orphans for Orphans

From the start, the Forkan brothers decided to give a percentage of their profits over to building orphanages in India as part of their ‘Orphans for Orphans’ campaign. “The idea is to improve children’s health and access to education,” explains Rob. “Passion, change, hope and inspire are key words for us.”

2016 was a watershed year for Gandys. They collaborated with Liberty London, the V&A museum and the Rolling Stones on limited edition flip flops – which are now being worn by over 250,000 ‘brand ambassadors’. They also extended the brand further by launching their first clothing range – which included jumpers, jeans and swimwear – and they opened their first stores. The Forkan brothers have ambitious plans for the year ahead too! In addition to their Kids’ Campus in Sri Lanka, they will be building a second campus in Lilongwe, Malawi.

Final question: would mum and dad be proud? Rob replies: “I get asked that a lot and always struggle to answer… I feel like we’ve only just started, so I’m not ready to step back and assess things. We have great products and a great brand, and I’m very proud that our success will help to improve the lives of children who really need that help. Our parents remain a great inspiration for us, too…. Would they be proud of what we’re doing? Yes, I think they would…”

• This profile appeared originally on the Start Up Donut website. Since it was written, profits generated by Gandys sales have helped to build four kids campuses worldwide. The Forkans' good work continues.

Business ideas – the good, the bad and the crazy

One expert and three business owners discuss business ideas and how success can sometimes come from seemingly foolish thoughts.

Although a few businesses ideas are unique, many involve what Kevin Duncan describes as “conceptual blending”, which is taking an idea and applying it in a new context. “Add the delivery mechanism of a biro to stick deodorant and you invent roll-on deodorant,” he explains.

Duncan is a business adviser, marketing expert and author of more than 20 books for small businesses, including The Ideas Book: 50 Ways to Generate Ideas Visually. “Anyone can have a business idea,” he continues. “But if enough people aren’t willing to buy it to cover your costs and generate enough profit – you have no business.”

Asking potential customers as early as possible what they think of your business idea – and how much they would pay for it – is essential. “Before starting up, the founders of Innocent set up a stall at a jazz festival with ‘good’ and ‘bad’ bins. All people had to do was lob their empty smoothie container into one bin or the other. Easy, fast, reliable market research.”

“Many advisers say you should ‘always be in beta’, but I disagree. Get it right at the beginning and get on with it.”

Promising ideas can be refined, says Duncan, who believes you should test fast, then decide. “Many advisers say you should ‘always be in beta’, but I disagree. Get it right at the beginning and then get on with it.”

Duncan also believes in speaking to experts if you lack technical knowledge, because their input can make a big difference. “When testing business ideas you must be brutally honest,” Duncan stresses. “If it’s rubbish, start again. And again. If your ideas are never good enough, admit it and give up. It could save you a lot of time, money and grief.”

Recipe for success

“I came up with the idea while sitting at home thinking there had to be a better way to cook great meals without all the hard work,” recalls Timo Boldt. “Having to find recipes, go shopping, and weigh ingredients was painful, while inevitably you end up wasting food. I thought if someone could fix this for less than the supermarkets charge, it would be insanely amazing.”

Boldt started London-based Gousto in 2012 with friend James Carter. Customers can visit the website, pick recipes and then order pre-measured ingredients to ensure no waste, which soon arrive at their door. “We made many small changes before launching, but our first real customer feedback triggered much bigger changes,’ Schmidt confesses.

“Customer feedback is vital. We still obsess about listening to our customers – they drive our product roadmap.”

Soon they were testing their recipes from market stalls, where reaction was overwhelmingly positive, but they were still able to learn. Boldt says it’s essential to test a business idea thoroughly before committing time and money. “Customer feedback is vital. We still obsess about listening to our customers – they drive our entire product roadmap,” he says.

In less than four years Gousto has scaled to now support more than 200 jobs, selling millions of meals per year. It has attracted £20m of investment, while ex-LOVEFILM CEO, Simon Calver, now sits on the company’s board. Always seeking new ideas, Gousto has launched apps to make ordering even more convenient, while introducing more choice to the menu (which now features dishes created by Theo Randall and Mary Berry, as well as wine and desserts). “You must take time to develop ideas – but sometimes it does take a leap of faith,” Boldt smiles.

“While enjoying food and drink with friends, Kahana lifted up his feet. He wondered why most socks looked so boring.”

Socks appeal

Gil Kahana and Humberto De Sousa became friends while studying communication design at Central Saint Martins. One day they were enjoying food and drink with friends and as Kahana relaxed he lifted up his feet. He wondered why most socks looked so boring. Then he got around to thinking how much better socks could be if animated with characters (“almost like wearing sock puppets on your feet”).

“I suggested the idea to Humberto and asked if he would like to collaborate. Then we started to meet up once a week to progress the idea, because we both had full-time jobs,” he says. “We drew quirky faces onto white socks, to see what worked best. At first we didn’t really have any business ambitions, but it grew. We then asked people on the street in London for their views on personal expression through clothing. It confirmed our thinking: the characters on our socks should only become visible when shoes were taken off.”

Chatty Feet launched in 2012 and feedback was mostly positive, says Kahana. “One blog made a negative comment, but it didn’t stop us,” he adds. Now with such characters as Kate Middle-Toe, Prof Brian Sox, Andy Sock-Hole, they sell socks in 27 designs in nine countries. “Last year we doubled our unit sales and we’re currently looking to open up new overseas markets,” Kahana reveals.

When seeking feedback, Kahana recommends having a prototype. “Then people can see exactly what you’re talking about. Also carry out research to make sure someone hasn’t already got there. Discussing your ideas with others can be beneficial, but make sure you’re in a stimulating environment. You should feel able to express your thoughts. Some people see the world in strict paradigms; they struggle with new ideas. Don’t listen to them,” he advises.

“The Dragons abused me in their typical style – even saying that my product was dangerous. Afterwards I was angry, but determined to show them.”

Buoyant sales

Kevin Moseley was a swimming instructor in Lancashire in the late-1980s. For a fun way to end lessons he would pretend to be a shark and swim around the pool wearing a fin made from two polystyrene kickboards. One day a child asked if he could try the fin, because it looked fun. Moseley experienced his own eureka moment, realising the commercial potential.

“Over some years I created, tested and improved prototypes,” he remembers. “I’d taken out a trade mark and had patents pending when I was invited to appear on Dragons’ Den in 2006. The Dragons abused me in their typical style – even saying that my product was dangerous. Afterwards I was angry, but determined to show them.”

Kevin remortgaged his home, borrowed from the bank, cashed in his life savings and sold his swimming school business to raise start-up capital. “It was a huge gamble, risking everything on an idea seeking to change the way swimming is taught around the world. I could never have been 100 per cent sure it would succeed,’ he confesses.

Moseley modified his product, had it tested rigorously against international safety standards. “I spent 18 months on R&D. You can’t launch a swimming aid without thorough testing – parents must be able to trust your products.” Then he found a manufacturer and launched Northampton-based SwimFin in 2008, running the business from his garage.

“In our first year we sold about 70,000 units in 46 countries overseas – a promising start. Now we export to more than 100 countries, have 44 exclusive international distributors and in the next year we hope to sell our one millionth SwimFin. We have a range of products, but the pioneering SwimFin is still the bestseller. I’m very proud of my idea and the business.”

• Written for The Guardian Small Business Network by Dead Good Content founder, Mark Williams.