Entrepreneurship: How to start a business in 2022
Last updated on the 23rd March 2022 by Lachie Hiriart
It will come as no surprise to start with the end in mind. So let’s start there. You know that you want to start a business by 2021, but what sort of business do you want to start, why and how are you going to start it? What is your goal for this business over the next 10 years? These are the types of questions that start to help you figure out how much work is involved, what resources are required and if the type of business you want to start is realistic.
Step 1 Find your niche
What is a niche?
A niche is a specialized market within the Industry. It’s important to make yourself stand out from other building companies and find your own unique style, whether it be more modern or traditional; Builders are all about creativity!
What niches would work for me?
We have put together a simple list to help young entrepreneurs pick their niche!
Step 2 Create a Building business plan
What is a business plan?
A business plan is a written document that outlines your company’s goals and explains how you will achieve them. It also serves as an outline for the
What should be included in my building Business Plan?
A business plan is a written document that outlines your company’s goals and explains how you will achieve them. It also serves as an outline for
What is the benefit of a business plan?
A business plan is beneficial because it helps you understand your company and what direction you need to go in order to succeed. It will also help motivate you in a clear direction to you short and long term goals!
For more information on business plans and how to create a business plan we have put together a simple how to guide: How To Write A Business Plan 2021
Step 3 Create a business/company Profile include?
Start with your Business Structure:
– Sole trader business
– Partnership business
– Company business
– Franchising business
– Trust business
– Joint business
For more information see our Business structure Guide:
Once you have decided your business structure, start by making yourself aware of all the different areas within your business that you will need to turn your attention to.
Below we have broken down all of the main areas of a business:
What is a business profile?
A business profile is a short description of your company that includes its mission statement, target markets and average project costs. It also provides information
What should I include in my business profile? Entrepreneurship – The worlds number 1 business start up blueprint (entrepreneurshipg.com)
In your company profile, you should mention the average project costs and who your target market is. You should also include your mission statement
How to decide a business name?
When coming up with a name for your business, there are many things to consider.
*Is the name easy to remember? *Does it stand out from the crowd? *Is it simple enough for people to say?
What are some examples of names that I could use?
Ideas for a business name include:
*R&D Builders *Building Heaven *Build-it Construction *R&D Building Solutions
For more business name ideas we have put together a how to guide on deciding on a name: Business name Guide
Where do I purchase the business name from?
There are many online platforms where you can purchase your business name. Some of the places to start include:
1. GoDaddy – Godaddy has a simple pay as you go pricing structure for individuals and small businesses who want to start-up
2. Namecheap – For start ups NameCheap offers one time payment packages that start at about $9.00
3. Freenom – Freenom is a start up friendly company that has a simple one time payment of €6,48 for start ups to get started
Step 4 Create a business Social media business page and website
Why would i need a business social media page?
In today’s world, it is vital to have a social media page for your business! Whether you choose Facebook, Twitter or Instagram; having an online presence is key. This will ensure that you are able to communicate with your customers and make sure they get the best experience whenever they interact with you
What do I need for my website?
Your website should include your business name, mission statement and a short description of what you can offer. It is also useful to have an “About Us” page where you can talk about who your business is and what you stand for.
What is the cost of a website?
The cost of a website varies based on the type of company, what it will include and whether or not you need to hire someone.
How much does it cost to create Building company social media page?
The cost of creating a social media page depends on if you are looking to develop your own or outsource it.
Step 5 Install Business accounting Software programs
Why do you need accounting software for a business?
In order to start a business, you will need some kind of accounting software.
How much does it cost to use accounting software for small start ups?
The start up cost of accounting software is around $10 a month.
Where can i find an online accounting program that I can start using right away?
There are many types of business accounting programs available. Some can be accessed for free and some will require a monthly payment if you want the service included.
For more information on available Accounting software programs we have put together a list of the best 8 accounting software programs available in 2021 December
Step 6 Business Payroll Management tools/Procurement Management Software tools
What is Payroll?
Payroll refers to the process of paying employees. It involves both setting up a new company payroll and making sure that all paychecks are processed correctly, on time and accurately.
Why do I need a building business payroll managements tools? If you have multiple employees then it’s important for them to be able to check their own paystubs and see how much they will be receiving for the next paycheck, it’s also important that you can control your payroll expenses.
What are some examples of Payroll managements tools? There is an overwhelming amount of software out there so if in doubt look at reviews before purchasing anything! Some options include:
– ADP – Quickbooks Online What would i need a business accounting program or management tools? Basically all businesses have different needs when it comes to accounting software therefore, I recommend finding one that suits you best by looking up customer testimonials.
Procurement Management is the backbone of all businesses, budget, stock, lead times & cash flow.
Step 7 Set up the Business Shop/Warehouse/Store/Online store
How to start a commercial lease?
Depending on whether you start with a physical shop, online store or start an online business; different paperwork will be needed.
Commercial lease basics:
What is a commercial lease? A commercial lease is a legal contract between the landlord and tenant of an office space which specifies the terms of the tenancy agreement as well as what actions are either necessary or prohibited.
What will I need for my start up business? Depending on what you start, there are different start up costs involved. For example if you start a shop then you will need money for supplies and equipment whereas an online shop only needs the website itself(hosting etc.).
When should i start looking at commercial property? If you start looking for commercial property right away then you can start hiring your staff and setting up the business location.
When do I start negotiating my lease? Negotiations start when you have agreed with both parties on the terms of the worker agreement. If something isn’t agreed upon it will need to be discussed before signing anything.
LEARN HOW TO BUILD & SCALE A BUSINESS TODAY
Step 8 Scale The Business/Advertising for work
Best ways to create more sales and revenue:
– Google Adwords
What are some examples of advertising in the building industry? Some options include:
– Radio advertisements
Step 9 Hiring staff to run/Project manage the business
How to hire staff for the business?
In order to start a successful company you will need at least two to three people working for you. This is an important step as hiring the right staff is key in growing your business and being profitable.
How do i start hiring staff?
When you start looking for candidates start by looking at your current employees and friends,
What benefits do start up businesses without employees offer?
There are many benefits to having no employees for start up companies. For example: lower start up costs as there is no waiting period required, usually less time spent on hiring/firing etc.
How can i start hiring staff?
You start by putting up advertisement on websites or asking friends to help you find someone.
Staff management tools?
Here is our best Staff management software tools of 2022:
Have you got the best tool for the work load, managing staff can be one of the most crucial parts of a business.
Here is our best project management software tools of 2022:
Step 10 Maintaining a Health lifestyle to sustain business growth and long term success
Business Startups tend to be busy places where many employees work long hours in order to get the company off the ground. Eating regularly is important, but so is taking some time out during the day.
How to start a healthy diet/workout routine?
Start by eating small meals every few hours to maintain a constant supply of energy.
How can start up business owners start maintaining their health?
Start with something small, for example go for a walk or drink more water! start with goals that are achievable and achieving these goals will motivate you to keep on track!
Best ways to stay healthy when starting up your own business?
– start slow; start having 1 green smoothie per week. As motivation becomes easier, start working towards 2, then 3 etc.
For more tips on sustaining a health diet while be an entrepreneur see our Simple Healthy Diet guide for business owners 2021
How to maintain a healthy fitness routine?
start with something you love/enjoy. start going for a run, play a sport or start going to the gym.
How can start up business owners start maintaining their health?
Start slow, start by doing a little bit every day and you will find that before you know it your fitness program is in full effect! You can do anything you want but it has to be slowly increased over time!
Best ways to stay healthy when starting up your own business? start with 1-2 days per week of exercise. If motivation becomes easier add extra days until eventually you have built yourself a routine that works for you! For more tips on sustaining a healthy lifestyle while being an entrepreneur see our guide here: Maintain a Healthy Fitness Routine Guide
Here is our 2021 guide to sustaining fitness when your starting a business or managing a business: Entrepreneurship