10 Simple Startup Business Ideas

So, you want startup business ideas to get you going? Whether it’s your first or your fifteenth, either way, it’s important to get the basics right to help the business thrive in the future. There’s more to starting a successful company than just having a brilliant idea, so get going with these ten ideas.

Define your business 

Getting the essentials clear in your mind is key. Ensure you know your product, service, or concept so well that you can deliver an elevator pitch in a minute to anyone. If you find this difficult initially, write it up on a board and ensure you keep developing it. To run a successful business, you need to know what you’re creating and selling, which means defining your business idea. So, get this straight from the start, and you’ll set yourself up for a win. 

Write a business plan

A business plan is essentially your guide for running your startup business, and it’s crucial. A company must have a comprehensive written plan, not just for you. Still, it can be used to hand out to investors, management, and even financial institutions to understand your business and assess whether they will get involved. If you have some know-how (and you’re happy to do online research), you can go ahead and do this yourself. If you could do with a bit of help, there are online tools that you can use. 

Register your business

It’s all well and good having a business in theory, but you’ve got to make it official. To get everything in order, do your research on business registration and discover how to register your business’s name. 

Know the market

Even if you have a fantastic startup business idea, a great product, or a groundbreaking concept, it’s nothing if you don’t know what else is going on in the market. There are so many great businesses out there. You want to know whether there’s anything similar to yours on the market, what you can do to set your business apart, and whether you need to take a slightly different route to succeed in your specific area. 

Network, network, network

In a startup, you must network with other business owners and professionals who can help you and who you can add to your network. Those connections you make could be the difference between success and failure, as you can learn from them, swap favors, and, more importantly, they can tell other people about you. As you’re just starting, you’ll need to be your own publicity and gather momentum for your business by getting out there. You can find potential new business, and maybe even a mentor. 

Depending on your business, you can join online groups on social media platforms such as LinkedIn, as well as networks, trade shows, conferences, or meet-ups. First things first, you’ve got to get yourself out there! 

Plan funding for a startup business idea

Will you self-fund your business startup? Will you require investment? If so, will you go to a financial institution, find investors, or look for potential grants? These are just some of the questions that you need to ask yourself when you think of funding. 

There are many ways to fund your business. You could do so yourself with your own money or credit, or with money from family or friends. Implicating your own money and that of your family is high-risk so you could consider alternative options such as: 

• Crowdfunding 
• Investors (angel and venture) 
• Grants 
• Loans 

You can use a combination of the above to get to the right level of funding to offer your business the chance to flourish. 

Get marketing 

While you’re nurturing your startup business idea, it’s essential to get the basics right. That doesn’t mean planning a huge media spend and rushing something out before it’s ready. Instead, take stock and write a considered media plan (tools such as Media Tool can help) and then focus your efforts on creating a solid website or online space (such as an online marketplace) where you can sell your products or services online. Having an online presence is key. 

Secondly, you can leverage social media to help launch your business. You can also consider SEO (search engine optimization) to push traffic towards your site.

Keep your finger on the pulse 

While you may feel bogged down in the details of running a startup business, to stay ahead of the curve (and the competition), keep looking ahead at what’s to come. As a small business, you have the bonus of being agile. You can see future trends or challenges, and pivot your business to respond in the best possible way. Keep abreast of the news, keep your finger on the pulse of the business world, and stay engaged with networks relevant to your field. 

Look after your work-life balance

Many entrepreneurs make the mistake of burning the candle at both ends, thinking they can do everything, and burning themselves out before they’ve even fully succeeded. Make sure that’s not you by building in good practices early. 

You can’t pour from an empty cup, so make sure you’re getting enough rest, enough time away from work. You need to continue seeing loved ones, and eating well and exercising will keep you mentally and physically healthier, which is crucial. 

Keep the dream alive 

Starting your own business can be hard, so keep focused through awareness. It could be a mood board stuck up in your house, or it could be a simple screen-saver or monthly progress report to remind yourself how far you’ve come, and how much further you’ve got left to go. 

Hopefully, our top ten startup business ideas tips have provided you with some inspiration for when you’re starting your business. It’s one hell of a ride – good luck and remember, it’s a marathon, not a sprint.