With so many things to think about, setting up a new business can be a daunting process. But with the right advice, it doesn’t have to be. We’ve put together some key points to help guide you through the 12 Steps to start your new business, so you can start preparing yourself for what’s ahead.
With so many things to think about, setting up a new business can be a daunting process. But with the right advice, it doesn’t have to be. We’ve put together some key points to help guide you through the 12 Steps to start your new business, so you can start preparing yourself for what’s ahead.
Here at Lemonade Beach, we’ve had the pleasure of working with many small-medium businesses over the past couple of decades, from helping them to get their idea off the ground, collaborating on growth strategies, right through to helping to improve the value of a business and advising on exit strategies. There’s nothing we love more than seeing our clients succeed as business owners through each stage of their business lifecycle.
If you’ve been sitting on a great business idea for a while and you’re now ready to start the process of turning it into a thriving business, there are a few things you need to consider. We’ve organised these into 12 Steps to help you set up your new business. To make it nice and easy for you to navigate through the process, we’ve also broken these steps down into 3 phases. So, each stage covers 4 important steps, allowing you to easily focus on the stage you’re currently at, or to come back to the stages that may take you a little longer to work through. To ensure you haven’t missed any steps, we advise having a look through all three stages outlined below.
While setting up your new business may take a bit of time (and thought), this is an exciting milestone so once you’ve completed all 12 Steps, don’t forget possibly the most important step…. Step 13: Celebrate your achievement of becoming a new Business Owner and get ready to kick some business goals!
The Preliminary Phase covers Steps 1-4, including Idea & Research, Planning, Forecasting and Pricing.
The Get Ready Phase covers Steps 5-8, including Structure, getting The Basics right, Making it Official and Finances.
The Operational Phase covers Steps 9-12, including Legal & Risk, Insurance & WHS, Tax Obligations and Operations.
“We would highly recommend Cameo and Lemonade Beach to any SMB using Xero. Our experience has been very positive. We have transitioned through many key points in business that required Cameo’s assistance which has given us the confidence in taking extra risks to reap the rewards and grow our business.”
JASON TEBBEY, TFL STUDIO
