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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

Advice on protecting your wellbeing, self-confidence and mental health from the pressures of starting and running a business.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

How I produced my marketing plan

Jake Xu of Bath-based creative agency Ready explains the benefits of planning your approach to marketing

"We formed Xcetra Media in 2007. In less than three years, we grew from a two-man band with a couple of clients to an experienced design and brand communications agency.

"Now rebranded as Ready, we have more than 30 national and international clients, including Universal Studios, Soap & Glory, Fish4, UKTV and five of UK's biggest magazine publishing houses - Immediate Media (formerly BBC Magazines), EMAP, Future, IPC Media and Bauer.

"We specialise in graphic design, brand development, email communications, web design, customer publishing and design for print.

Taking control

"Marketing plans are a great way for a business to ensure it makes well-informed decisions throughout its growth. They help organisations understand where they are before deciding where they want to be, and how they can achieve that. Ideas expressed by everyone in the business can be structured to create a coherent, detailed plan of action.

"If you treat producing a marketing plan or business plan as a mere box to be ticked, you're missing an opportunity. Before you start work on your marketing plan, you need to truly understand why you're doing it and how it can benefit you.

"When we set up the company, we already had tons of work lined up. We didn't have time to write a business plan; we kind of thought we knew what we were doing and where we wanted to go. We've always been self-funded, so we didn't need to borrow money or attract investment.

"As the business grew, we realised that without a business plan, we weren't properly focused and ultimately we weren't in control of our destiny. After we'd put enough time and effort into producing our business plan, we had a much better understanding of our business and our market. And because the information was based on actual events and experience, the plan was more reliable.

Reaching our target market

"After helping many clients to achieve their marketing objectives, ironically, we realised we'd been neglecting our own. We weren't shouting about our own achievements - including several notable contract wins. We decided to devise our own detailed marketing strategy, set out in phases, with clear objectives and estimated budgets.

"We began by looking at what we did, and - perhaps more importantly - what we did better than our competitors. We also carried out a full SWOT analysis, which meant looking at our strengths and weakness, to see what our opportunities and threats were.

"We spent a lot of time establishing a much clearer idea of our target market, too, which enabled us to think of how best to reach potential customers with our key messages.

"Once we had fortified our own brand identity, we created a communications strategy, which covered media usage, creative approach and message strategy.

Realistic ambitions

"We set objectives that were ambitious, yet realistic and achievable. Having vague aims doesn't help - they must be specific and measurable, otherwise how can you know if your methods are successful?

"We measure our objectives by using quantitative data, for example, monthly sales figures, as well as qualitative information such as client feedback.

"There's no point in having a marketing plan if you're not going to use it. We've tried to fully integrate ours into our everyday activity. That doesn't mean we consult our marketing plan every day; but before any major decisions are made, we most definitely would consult our marketing and business plans.

"This ensures our actions are consistent and in tune with our overall marketing and business development strategy. If you deviate, then you risk going off in the wrong direction.

"You've got to update your marketing plan if it's going to remain effective. If there are important changes within your business or market, you should revisit your plan to see what effect this could have. It also gives you the chance to reconsider your objectives and strategy, which you might need to change."

Jake's three key lessons

  • "Make sure your marketing plan is tailored to your business and its landscape."
  • "Keep it specific. Don't waste time with broad assumptions and statements. Your plan mustn't be vague; it must address each area of your business precisely."
  • "Integrate your plan. Keep it front of mind when any major business decision needs to be made - even if it doesn't appear to be explicitly related to marketing."

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