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.

How we started our own micro-brewery business

Many people start their own business because they dream of riches, while others simply want to earn a living from something they truly love. The latter is true of Liverpool-based Grateful Dead fan John Marsden and his wife Julie, who set up The Melwood Beer Company in 2013.

“For many years I’d dreamt of running a microbrewery business with my wife, Julie. I’m passionate about beer, but I don’t like the mass-produced, watery, gassy stuff you get in pubs and supermarkets.

“In March 2013 we opened The Melwood Beer Company. We make high-quality beers that taste great and are totally natural – we don’t use chemicals. To start the business, I used earnings from my work as a self-employed hospital operating theatre technician and Julie worked as an administrator at Alder Hey Children’s Hospital.

“Our premises are special. I’d mentioned to a patient that I was looking to open a microbrewery and she told me about an old dairy near her house” John Marsden

Ideal premises

“Our premises really are special. I’d mentioned to a patient that I was looking to open a microbrewery and she told me about an old dairy near her house, which until recently had been home to one of the North West’s first craft breweries.

“After seeing them, we just had to have them. They were perfect, and in such a beautiful setting near to Knowsley Safari Park – some days you can actually see the rhinos and zebras. Our offer was accepted and as a result we started the business sooner than anticipated. It all happened so quickly.

“We fitted the place out with all the necessary tanks and equipment and worked with a brilliant local welder. We also had to source supplies, create our website and develop our branding, as well as try to win our first customers, but come the end of March our first supply of beer was ready.

“We installed a five-barrel system, which enabled us to produce up to 800 litres per brew, which is 20 casks, each containing 72 pints. We had four fermenters, which gave us the capability to brew up to four times a week [ie 80 casks], providing the demand was there.”

In December 2015, John and Julie moved into The Kennels – a larger building which used to house the estate’s gun dogs. The extra space enabled John and Julie to finally do everything they were planning – with dedicated rooms for bottling, kegging, casking and tasting. In May 2016, they were visited in their new premises by the crew of Food Unwrapped who filmed the brewing of a special beer.

“All our beers are single malt varieties and their names are inspired mostly by bands, singers or songs” John Marsden

Grateful Dead

“Music is my other great passion and I play Hammond organ in a Grateful Dead tribute band. All our beers are single malt varieties and their names are inspired mostly by bands, singers or songs.

“We do an ‘Icons of Rock’ series and our first was Mojo Rising [The Doors/Jim Morrison], then there was Fools Gold [The Stone Roses]. Julie also developed an ale called Knowsley Blonde. A while ago, she made a beer called Father Ted, in honour of her late father. We also produce one called Citradelic, which is very popular.

“Our branding incorporates the famous Grateful Dead lightening bolt skull logo, which was originally created by the band’s soundman Owsley Stanley in the 1960s. Sadly, he died in 2011, but I emailed his family to ask permission to use the logo and they said yes.

“We plan to start selling branded clothing through our website, which will hopefully help to raise our profile. I used our home-based computer to create our website and branding and I produce all of our pump clips, stationery, labels, etc at home. As well as saving money, I enjoy doing it. I get a real buzz from seeing the pump clips in public.

“Brewing beer involves a lot of hard work, but it doesn’t feel like it because I love it so much” John Marsden

Labour of love

“The name of our business is inspired by Liverpool FC’s [former] training complex, which is close to our home. Brewing beer involves a lot of hard work, but it doesn’t feel like it because I love it so much. It’s not like a job. Our beers are very good – the reaction has been brilliant – and with our passion and commitment, I’m confident our business will do well. We’ve sell to wholesalers in Yorkshire and Greater Manchester and our sales in Merseyside continue to grow.

“I don’t know whether the business will make us rich, but I’d be happy if it generated a wage for us both. If it does make us rich, that would be the icing on the cake, but just to be able to walk into a pub and see people enjoying our beer means we’ve already achieved a long-held dream.” 

“Find a way to be special – that way people will buy your products rather than someone else’s” John Marsden

John’s three top tips

• “Base your business on something you love. That way it won’t seem like work and it will drive you on when the going gets tough”

• “Ask for help from other businesses. We’ve had some really useful free advice from other brewers on Merseyside – you really wouldn’t believe how helpful people have been.”

• “You must set yourself apart from your competitors. Find a way to be special – that way people will buy your products rather than someone else’s.”

• This profile appeared originally on the Start Up Donut website. John and Julie went on to open their own successful micropub, The Bard, in Prescot on Merseyside.