Once you’ve got an idea, you need a business plan. This will help to focus your thinking and avoid the classic error of not understanding the numbers or your product properly.
Startups.co.uk has a top 10 list of things to consider, such as will you be a sole trader, in partnership or a limited company? Advice on what to do next is laid out in an interactive guide at the government’s Business Link website.
If you need further help, there are several options. Boggleit.com is a kind of online Dragons’ Den and an interesting entrepreneurial idea in itself. For £10 you receive a snapshot impression of your big idea. For £235 the service will consider your cash cow in full and, if it gives the green light, it will invest in your idea in return for a stake and help you to develop it (two projects are already under way: www.tungz.co.uk and www.mobilestats.co.uk). As an alternative, for £75-£295, the long established and friendly www.abettermousetrap.co.uk also offers an assessment service.
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