BLZ Gaming

19/04/2025

13/06/2024

23/02/2022

10. The structure

Will you form a limited company, a limited liability partnership (LLP), a traditional partnership or will you be a sole trader. Each option has pros and cons and you need to determine what will work best for you.

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9. Write a business plan
This is essential. It’s your roadmap. Remember, it’s not set in stone; it’s always evolving, with your business and should include longer-term objectives, estimates and forecasts. Each step should, if possible, be measurable so you can gauge your success and so you can access funding and investment, if you need to.

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8.Know your market better
Carry out as much research as you can. Find out about your market, the demand, your competitors. Talk to potential customers, suppliers, competitors, distributors and ex-employees of competitors. Test your idea and test the market. This is a vital step before you write your business plan.

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7. Make sure your product or service is a must-have
Your idea doesn’t have to be new but it does need to differentiate you from your competitors. You also need to know that people will want or need it enough to buy it.

23/02/2022

6. Make sure it’s right for you
Be brutally honest with yourself: are you the right person to start a business? Can you work long hours? Can you take pressure and criticism? Can you cope with financial insecurity? If your business struggled at first, would you keep going? Write down the reasons why you are starting a business and decide whether it’s right for you.

21/02/2022

5. Seek help

Even long- established, successful businesses need help to bounce around new ideas and growth plans so new businesses should never try to go it alone. The right advice, mentoring and support can help you with business planning, legal issues, IP and patents, funding and investment, research, design, prototyping and product development, premises, HR and employment issues, marketing, sales and much more.