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Set Up a Successful Small Business: Starting up

Vera Hughes and David Weller

What are the initial things to do when setting up your small business? First, write a profile of your likely customers, including their age range, spending power, location and how your product or service would match their needs. Then consider your competitors and decide where you differ from them and your own unique selling points (USPs).
Now, if possible, conduct a small market research project, perhaps at networking meetings, with friends and family, or in your local community, to define your local market need. If at all feasible do a small trial run, with feedback from your customers or clients. Allow them to try out your product or service, perhaps at a discount. Ask them to complete a small questionnaire and follow up with a phone call, if appropriate.
Finally, ask yourself whether you are the right person to run a small business. You will need motivation, organizational ability, good communication skills, good health, plenty of energy and the ongoing support of the people around you. Seek advice from an organization such as Business Link, and join local business clubs to network and share ideas. Above all, believe in your product or service and in yourself.


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