Business Start Up

Macers

Hi all,

I had a business idea whilst on holidays (you get them in the strangest of places ) and since I've been home, I've been doing some detailed research (mainly via net) I have realised that the service I want to provide is not available in Ireland but only in 2 countries worldwide and been successful.

Without giving my idea away, it would offer advertising in a way that hasn't been offered before and to whom I've been speaking to (within the industry I wish to offer it...) I have not gotten one false feedback but on positives...

With advertising this would obviously involve some sort of sales to which I have no real knowledge. Obviously I could do a demo and go company to company and showcase what I have to offer... However I need a bit of advice on that part.

The other part is the bare basics. I am qualified in business (of sorts) and would like to think I've a good head on my shoulders ie I don't rush into things and I'm rational however what would be the first steps in to approaching the setting up of this business?

Many thanks in advance...

fintan

Sorry, your post is very vague.

What is the first step in setting up a business?

Really depends.

Set up a web site first, get some business cards and get a product sample.
Sort out your pricing and start knocking on doors.

When you get a couple of orders, buy your stock.

My answer is as vague as your question im afraid.

If you want PM me and we can talk off-line.

Cheers
Fintan

cabla

I think i know what you mean. YOu gotta just do research and if you looking for a loan, makea business plan. You need to taget market get a market plan and marketing mix. Research is key though

antoinolachtnai

1. More research. If you've done your research mainly on the 'net, you've only scratched the surface. An awful lot of 'ambient' advertising things have been tried already! If you can find a way to speak to some of the advertising buyers or to to outdoor advertising specialists, you might get some insights.

Figuring out sales. I am assuming this is some sort of ambient advertising. Most ambient advertising seems to be either sold in big lots and exclusive deals, or else by specialist companies who control a wide variety of media. The reason is that the market often isn't that big. You need to be earning hundreds of thousands a year in gross profit to be able to hold on to a decent sales team.

Forecasting in financial form. Is worth doing some rough figures even at this early stage to see what sort of scale you would need to be to make this fly.

faceman

Get yourself a good solicitor who will advise you on how to go about setting up your business.

Bare in mind a good idea is a potential earner, but poor planning is a timebomb.

Sonnenblumen

and don't forget the customer in all of this nonsense!

faceman

Sonnenblumen wrote:

and don't forget the customer in all of this nonsense!

Dante: The customer is always right
Randall: The customer is always an asshole

stressedout

Just remember what works in one country may not work in another. Research and Compare your prices versus other types of advertising medium - billboard, radio, newspaper etc. Most people will give you favourable / positive feedback when it does not cost them anything. Try getting yourself a price point and then asking them would they be interested. You might get different feedback. Try work out some costs, qty's and margins/gp. You could find yourself working for a minimum wage otherwise.

Also remember you advertising must hit the clients target market - No point in advertising childrens toys in a pub! However nothing ventured nothing gained. best of luck with it.

Hitchhiker's Guide to...

best of luck with it - just remember that positive feedback from friends in the industry does not necessarily translate into guaranteed sales to those people.

if you can afford to wait for a bit, then could go into the Cork equivalent of Hodges and Figgis and get a good business start-up book, or your local Enterprise Board will offer training courses and may even be able to offer an office and financial support if they are convinced it is a good idea.