By Adrian Martin

1. Write a business plan.

The first thing you should do when starting off on your own is to write a business plan; this should set out the way you intend to operate your business, your financial forecast and your plans for success. Get your plan checked out by your local business advisor or Chamber of Commerce. Following a well-thought out business plan will help you avoid pitfalls.

2. Get yourself an accountant or financial adviser.

Having the right financial support is vital — running a business is difficult at the best of times, and trying to get a handle on complex financial issues and mandatory business returns is well-nigh impossible without the right people behind you. Don’t try and do all of this yourself.

3. Organize yourself.

Sounds simple, but generally when you’re starting a business. you’ll be all things to all men from managing director to salesman to secretary. By making sure you set aside time for all your tasks and prioritizing what’s important, you will ensure that you don’t sink under a mountain of paperwork.

4. Join your local business advice center or trade organization.

Joining your local business advice center when starting out will give you two things: one, being part of a peer group will provide the support that you’ll need — sharing concerns and advice with other business people who are going through similar challenges; and two, local business groups offer an excellent opportunity to network and find sales for your business.

5. Get the right legal structure.

There are a variety of ways that you can set up your company — each has its respective pros and cons. This requires careful consideration; seek some advice and research your options before starting out.

Adrian Martin writes for Bizbodz.com, which provides business advice, articles, and free business resources.

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