Starting a New Business

How to set yourself up for success

Knowing the industry you are starting a new venture in means scoping its legislative, ethical and other regulatory requirements. These are important statutory factors to consider when building a business. But to start with don’t let it bog your creativity and flare. I said this first to keep you grounded that it’s coming and, it needs to nurtured as part of the whole baby.

To start with let you imagination go overtime with ideas, just remember to write it down. Unless you have the best memory thoughts can just float away even the really good ones.

I have included links below to help make is easier to start to writing things down.

Mind Maps

See a quick example and definition

I love mind maps. It’s a method of brain storming invented by Tony Buzan and builds ideas using radiant thinking.

Mind maps supports a process of not thinking linearly. What ever comes to mind in this rapid fire thought session can be added without consideration to process or other thoughts except it leads from a noun, or the name of your business.

Analyse Your Business Idea

Don’t be worried about feeling naive when starting a new business. Naivety has it’s advantage that if you can’t see all the obstacles ahead then your are not going to fret about them.

However you do need to start formalising your vision and begin the planning and marketing process.

Click to download a simple questionnaires you can fill out to give you a start in the direction of a full business plan.

30 Minute Plan

The 30 Minute Plan is a little step I do before I start every single project. It’s called 30 Minute Plan because that’s the most time you should take to do it. It’s a brain storming technique that is focused and outcome driven. I always do mine with pencil and paper, it’s really just an exercise to get you into see the full scope of the enterprise pictorial. I do keep my mind maps to refer back.

Click to download an outline for a quick plan.

Government Guide

The Australian Government provides a great guide to help you start thinking about your new venture as a business owner. It is worth checking out even if you already have an existing business. There are plenty of resources available for the Aust government for free.