Start Up

Marketing is probably the most misinterpreted area for start-ups. Many people think marketing is all about advertising and selling. In fact, it is a lot deeper than this. Before you launch into your new business, it’s important you fully investigate whether a market for your product or service exists at all.
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Often the first step in taking your business idea from thought to reality is getting financial support to make it happen. Whether you’re talking to a bank, government agency or investors, you will need to sell them your idea.
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The Galway County and City Enterprise Board (GCCEB) offers a range of financial supports for new and existing businesses. To qualify for these supports, your business must be operating in a specific area – be innovative and creating employment in the Galway area.
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The Galway County and City Enterprise Board is the first point of contact for all start-ups. Whilst the current structure of Enterprise Boards across the country is to change, budgets and supports are confirmed and still being delivered in 2013.
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The Christmas and New Year season traditionally indulge our sense of nostalgia and the holidays allow us the time to reflect on what we have done and achieved during the year. Since this series of articles started in January, I have explored the pre start up planning that you should complete before starting up a business and it’s a good time to review and capture the key points made during the year.
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Once you have supplied all the information requested by the bank to process your loan application, you should get a decision within 15 working days. If your application has been successful, you will receive legally binding documents.
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You need to explore all available sources of finance for your new business idea. You have three main sources (see previous article on 10 October): 1. Your own investment (equity) 2. Loans (debt) including bank finance  3.
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Last week I introduced you to the technical term for types of finance available to business – debt and equity. This article explores the different types of business loans (debt) available to start-ups.
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Getting enough money together to properly finance a start-up business is difficult in any environment. In the current environment, it is even more so.  Getting enough of the right type of finance together will be one of the most difficult tasks you will face as a new business start-up.
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Getting enough money together to properly finance a start-up business is difficult in any environment. In the current environment, it is even more so.  Getting enough of the right type of finance together will be one of the most difficult tasks you will face as a new business start-up.
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Training is not always necessary but relevant training is always a benefit.  We all have a set way of doing things when it comes to work or business, and we regularly find ourselves too busy to take the time to find out if there is a better, more efficient way of doing things.
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Apologies if I have used too much jargon or have been overly technical in the last few articles on business planning. Sadly, the production of a business plan requires just that level of focus. If you feel overwhelmed, all is not lost as you can get help and advice.
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Questions your business plan should answer The business planning process for start-ups can be formal or informal. You can do it in a weekend or it can take several months. What is important is that you consider, and can answer, the following questions: Do I understand the process of business planning? Am I the right person to set up and run a business? Have I got a feasible idea? What formalities should I complete before I start my business? What sales do I expect and how will I generate them? How and with what resources will I meet my planned sales? Can I describe the peo
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Structure of a business plan – Part 3 of 3 Sales management   Who will conduct the selling for your business and are they trained to sell? Not everyone is a natural sales person, but, if your business doesn’t have a sales strategy, it won’t achieve its goals.
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