What you really need in order to start your own business #IOwnMyOwn 

Taking the leap into the world of owning your own business can be daunting. What do you need to do to start your own business? Here at Budget Insurance we have teamed up with our local entrepreneurs and asked them ‘From your experience, tell us ten things that you couldn’t have done without when starting your own business?’

Investment

“You don’t necessarily need a huge amount of money but enough to get you set up and on the map as a serious, professional business. It’s worth spending a little upfront on your branding and website as this is the first impression customers will have about you, so ensure it is professional, stylish and shows people what your business and brand is all about.” Helen Esposito - Magpie Vintage Crockery Hire

Experience

“Roofing, like most trades, is not a business you can jump into without learning the skills and having the knowledge that comes from years in the trade. A good apprenticeship or college course is always a good idea, you can then build your knowledge and experience from there.” Chinzi Esposito - Chinzi Esposito Roofing Services

Stock

“You don’t need warehouses full of stock, but forecast what you are going to sell in the first couple of months and make sure you have enough. Once you have a few months’ worth of sales under your belt you can re-order more efficiently.” Mark Pearce - MVP Aerials

Knowledge

“Make sure you are clued up on the essentials of starting a business, for example, go online and learn how to set up social media accounts, create a website and how to manage your accounts. Or even better, if you have any friends or family who run their own businesses, get them teach you their skills.” Helen Esposito - Magpie Vintage Crockery Hire

A thick skin

“Owning your own business isn’t all cups of tea and Radio 2, it’s tough, especially to start with. It takes precision, planning and above all a thick skin. Although you think you can, you will find that you cannot please every customer and there is going to be times where you get complaints which are hard to hear initially.” Amanda Owen - The Parlour Interiors

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Suppliers and contacts

“Finding reliable suppliers for the materials you need is essential in ensuring that your business plan runs smoothly. In my trade, for example, where some of the materials needed are quite sizeable, it pays to be economic and shop locally. True, I might be able to get my materials cheaper online, but could I just pop to the shop and collect more stock if I run out whilst on a job?” Mark Pearce - MVP Aerials

A van and the van insurance to match

“I had a cheap Escort van when I started out, it had lots of rust but got me going until I could afford something better! It was very important to me that I had the right level of cover with my van insurance; ensuring that I had a courtesy van as standard if something went wrong with mine and most importantly making sure I had separate insurance cover for my tools should they be stolen from my van.” Chinzi Esposito - Chinzi Esposito Roofing Services

The right tools and materials

“Don’t cut corners, if you need a specific tool, buy it! It’s vital to the future success of your business that you have the tools you need to do your job properly. For example, cheap paint really doesn’t give the finish and quality that my clients pay for! Remember, it’s your name that is on it.” Amanda Owen - The Parlour Interiors

Support

“Make sure you have the support of friends and family as you’ll need their support, understanding and advice along the way.” Helen Esposito - Magpie Vintage Crockery Hire

A love for the job

“You have to have the desire, the joy and love to do what you do or it will show in your work.” Amanda Owen - The Parlour Interiors

If you have any top tips for anyone wanting to start up their own business, please let us know by visiting our Facebook page and commenting on our post with #IOwnMyOwn.

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