Starting out

From idea to first sale

For anyone with a skill, some savings and a city: how to pick an idea you can start, test it cheaply, cost it honestly, and set it up properly.

1. 01Choose an idea from what you already knowFind a first business idea in your own skills, contacts and neighbourhood, and check it against what you can afford to lose.5 min · ends with find an idea
2. 02Test the idea before you spend on itFind out in a week, for almost nothing, whether people will pay for what you want to sell.6 min · ends with test the idea
3. 03Cost your first months, honestlyBudget for the months before sales cover costs, and work out how many sales a month it takes to break even.6 min · ends with test the idea
4. 04A business plan on one pageWrite down who buys, what you sell, how you reach them and what it costs, on one page you will actually use.5 min · ends with ask anything
5. 05Proprietor, partnership, LLP or company?Know what changes between the four common structures, and which one fits where you are now.6 min · ends with ask anything
6. 06Which registrations come firstKnow which registrations a new business usually needs on day one, which can wait, and how to tell which apply to you.5 min · ends with registration checklists
7. 07Your first ten customersFind and win the first ten paying customers by hand, before spending anything on advertising.6 min · ends with test the idea