Setting up your own business is easier and cheaper than you think. Friends and colleagues often ask how much it cost - in time and money - to set up Seagreen. The answer was two weeks and surprisingly little. Here’s how I got up and running:

Pick a name
The first thing to do is to come up with a name, and the story behind the name, for your company. It must be unique to register it, so check on Companies House (or similar if outside of the UK) and then do a thorough search on Google. Once you’re sure it’s registerable, test it out - name and story - on some people you trust. Did they like it? Did they get it? If yes, you are good to go!
Get an accountant
Unless you are genuinely looking forward to managing your own accounts, get an accountant. They will help you decide on the best trading vehicle to choose, explain all of the taxation, payroll and accounting procedures you must follow and register you with Companies House and the HMRC (or IRS, or equivalent in your country). My accountant also set me up with Quickbooks, a cloud accounting platform, so I’ve been entirely in control of invoices, payments, expenses and 100% paperless from the start.
Apply for a business bank account
Once you have your company registration number, you can apply for a business bank account. The usual financial comparison websites will tell you about any current deals such as getting your first 12 months banking for free. Remember to check your country’s laws. In the UK, for example, it’s mandatory to have a dedicated business bank account if you are a limited company, but not if you go the sole trader route.
Develop your pitch
Next up, I would recommend drafting your purpose and pitch. By purpose and pitch, I mean a short statement that explains why you set up your business, what you will be offering, who your customers are and how your product/service helps them. Now go out and meet a bunch of potential clients and collaborators and start talking. Each meeting will help you to refine your pitch and build your story.
Set up your CRM
Make sure you’ve got a system for storing customer data and tracking your interactions. You’ll be surprised and delighted by the number of people that contact you once they hear you’ve set up on your own. Particularly when you change that LinkedIn profile! Some of these people will have great advice. Some may be potential customers. Some will be potential referrers. You will want to keep notes of your conversations, track any actions and set yourself reminders. So start as you mean to go on and develop a CRM process that works for you. That might just be an excel spreadsheet, or you might want something more advanced. HubSpot is a fantastic free CRM tool, with excellent training content.
Get out there
Don't make the mistake of thinking you need a beautifully-designed logo, complex website, and glossy brochure before you can start prospecting. As long as you have a compelling story to tell, get out and start talking to customers and see what they think. You’ll be amazed at where these conversations take you.

Good luck with your own new business set up.

If you’ve got any additional tips to our top six above, let us know in the comments.