Commit to ‘doing things right’ from the get-go by making use of all the available resources aimed at getting your business up and running (and registered!), and make use of the various support systems in place. The Small Enterprise Development Agency (SEDA) is a good place to start, and it’s also worth checking the Department of Labour’s tips for self-employment, which you can find on our government’s website.
You can never do too much research before you start your own company. Who is your competition, and what can you learn from them? Who is your market, and how will you reach them? How much capital do you need to get going, and what will your expenses look like? Will you require staff, and what does that entail? Will you be able to operate from home, or will you need to rent premises?
Now that you have all the info you need, it’s time to put a plan on paper. It’s not as difficult as it sounds, and luckily today there are tons of online resources to help you do this. Thanks to the Internet, you no longer need a business degree to pull this kind of thing off.
Find out as soon as possible whether or not you qualify for a microloan. As the name implies, the loan won’t be huge, but on the plus side, you need very little to qualify. Alternatively, funding for some businesses is available through the Industrial Development Corporation or the Department of Trade and Industry’s Government Investment Incentives, so find out if you qualify.
Talk to people who’ve made it in your industry, and ask them to share their experience with you. If possible, mentor someone who works in the same field, and see if they’d be willing to walk a road with you as you figure things out. It’s always good to have a sounding board, and your connection may even be able to lend a helping hand or point you in the right direction when you feel lost.