Steps to create a creative business:
- Why do you want to be your own boss- Action- Pros and cons of being your own boss
- How can you improve- (do you need to improve your business skills, building confidence in areas such as networking)- Action- list areas where you need to improve, take yourself out of your comfort zone
- What is your idea- (what is the product/service that you want to sell, something that you will make money from, do something that you are passionate about)- Action- Think about creative skills and how this can become a product/service
- Research your market- (who do you want to sell your product/service to- list 20 potential clients- Action- Profile your ideal customer, business or people. "If you have never failed you've never tried anything new." (Albert Einstein)
- Your business structure- main legal structures include: Freelance/soletrader, Partnership, limited companies, CIC (Social enterprise)
- Choose a name, create something completely different, make sure the name you choose is as unique as possible, you can also change your company in the future- Action- Consider the benefits of using a good business name instead of your own.
- Creating a brand and then promoting it- It is important to have a visual identity for your business Action- Develop a 10 step plan to promote your business "There are no secrets to success. It is the result of preparation, hard work and learning from failure."
- Lock down the legals- (Register with the HMRC as self-employed or companies house. If you plan to create a limited company, get correct insurance, understand the tax you will be eligible for e.g. National insurance, safeguard your idea.) Action- Contact Patlib Plymouth to discuss IP issues
- Get your numbers right- (Before you start think about start up costs) Action- Speak to Paul about creating a cash flow
- Get used to juggling- (Most professionals combine a variety of income streams especially in the beginning, learn to manage your time effectively) Action- Think about your own time management skills "Great things in business are never done by one person, they are done by a team"- Steve Jobs
- Be inspired by your fellow creatives Action- Find a creative network to join
- No room for being shy, get out there and do it! Action- Contact 10 people a week that you want to work with, sell to and work with.