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. 04Proprietor, 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
5. 05Which 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