#1 – Business Tips – Why Run a Business – By Pat Hoey
This is the first of a six-part series of tips about starting up and running a business by Pat Hoey
#1- Why run a business
- Note down why you want to run a business, and write a simple business plan of ideas, operations, etc.
- What is the 3–5-year vision of the business
- Complete a simple SWOT analysis. Know what the business risks and rewards are
- What is the business idea, and how will it make money?
- Note what things you will be good at or like to do
- Note down the things you won’t be good at, so will need help with
- What staff do you need?
- What marketing will you need to get enough work? Website, social media, advertising, customer feedback, etc
- Who is your competition, what are they doing well/unwell and how will you differentiate price/product/service
- Discuss this business plan/idea/notes with your spouse/partner so they understand what your plans are
By Pat Hoey