3. Gather empirical evidence quicklyHow many times have we seen someone launch a business without having done the proper research” All the answers are out there – you just have to ask. Don’t guess.
Don’t be frightened of letting the cat out of the bag – letting people know what you are about to launch. The chances are that someone has already thought of your idea anyway. Talk to everyone you know and get their opinions, go and ask your potential customers whether they will accept the pricing you have planned, ask them whether they will want what you intend to offer. Once you have done so, go and do it again. If the real world tells you to change your plan, then be brave and do so. The key thing is to get to launch date a soon as possible with all the information you need to be able to take intelligent decisions. You can’t do that in isolation
This is the third of six short pieces on working with your accountant, written by Christopher Jenkins, senior partner of Wingrave Yeats (yes, they’re accountants). Wingrave Yeats was voted Best Medium Sized Firm of the Year and Chris was voted Best Business Adviser of the Year by the CBI. Contact him at [email protected] or go to www.wingrave.co.uk
For more on choosing and using an accountant, click here for our Start-up Guide.