This stage focuses on setting your ideas into motion and establishing the correct business model. Perhaps you have invested substantial private funds in order to start up your company, which may involve bank guarantees or interested shareholders? This alone will focus your mind on creating the best possible environment for showcasing your new business. At this stage you will have completed your Research and Development and are now ready to offer your services or products to the trade or public. We can ask the right questions to help you to develop your business model and ensure you are heading down the right track.
Some of the Challenges you are likely to face are
- Managing your Cash Reserves
- Appropriate and relevant Budgeting
- Managing your Sales Expectations
- Recruiting experienced Staff
- Management Accounting
- Establishing a good Customer Base
- Establishing your Market Presence
In order to improve efficiency and capitalise on the hard work you have put into starting up we would meet regularly to discuss things like what actually happened in reality compared to the proposed business you outlined in your business plan; who is running the office and accounts function, are they being effective, what would you consider to be your biggest mistake during start-up and does it need rectifying? All of which will serve to give us a greater understanding of your needs and you a better idea of how to take your business forward to the next stage.
Now click on Stage 2 below: