Step 4 – The first two years
Finding new customers
Your marketing and promotional plan needs to be reviewed on a continual basis to keep track of your progress, if the market is changing and where you are getting the best results.
Things to consider are:
- Are you receiving calls as a result of recommendations from others?
- Are clients/customers asking about additional services or products?
- Do you have a reputation for excellent customer care?
- Have there been any political, technological or legislative changes that may impact your market?
Actively participating in networking groups can be a great source of information, support, ideas and leads. You will need to research different groups and formats to find ones that suit you and your business best. Please visit our Business Introductions page for more information on networking.
EDEAL can offer you access to associates experienced in marketing, promotion and sales. Please contact EDEAL on 0844 2640390 for more information.
Employing people
Fear of red tape and legislation can deter a young business from employing staff but your business is at risk of stagnation if you do not employ the right people.
For guidance on recruitment and employment, please visit our Frequently Asked Question’s or Business Links employing people page.
Managing your cash flow
As your turnover grows the demand on working capital increases and a growing business can often run out of cash. You can reduce the risk by:
Good credit control – make sure you chase your debts and get the money in
Forecast and monitor your cash flow to give you time to plan for any potential cash shortage. Our Frequently asked questions page has some guidelines on preparing a cash flow forecast.
Talk to your bank – if you have a plan and can show that you are in control of the situation, your bank are more likely to provide short-term support
Business Link financial planning page can also provide information to help you manage your cash.
EDEAL can offer you access to associates experienced in financial management. Please contact EDEAL on 0844 2640390 for more information.
Business Development
Business Development can encompass a multitude of subjects: developing new products; new markets; new skills; new partnerships and all relate to growing your business.
The need to access advice never stops and you may need to access independent advice at any stage. EDEAL has over 25 years experience of supporting start-ups with their business development. Please contact EDEAL on 0844 2640390 for more information
