The Most Commonly Googled Business Startup Questions (& Answers)
Starting a small business can be an exhilarating venture, but it also comes with its fair share of challenges. Many aspiring entrepreneurs turn to Google for guidance (and now to ChatGPT, Bard on another conversational AI chatbot), seeking answers to their burning questions.
Analysing the most commonly Googled startup questions provides valuable insights into the concerns and priorities of those on the entrepreneurial journey. For this article we’ve explored the top 5 questions and provide useful links and answers to online resources to help you navigate the process of starting your own venture.
How to Start a Business (8200 monthly searches)
Starting a business requires careful planning and execution. To begin your entrepreneurial journey, consider the following steps:
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- Identify a profitable business idea: Research market trends, identify your target audience, and assess the demand for your product or service.
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- Create a business plan: Outline your business goals, target market, marketing strategies, financial projections, and operational plan.
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- Choose a business structure: Decide whether to operate as a sole proprietorship, partnership, limited liability company (LLC / LTD), or corporation.
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- Register your business: Follow the necessary legal steps to register your business with the appropriate government authorities in your country.
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- Secure funding: Explore different funding options, such as personal savings, loans, grants, or venture capital, to finance your business.
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- Build a strong team: Surround yourself with skilled and motivated individuals who share your vision for the business.
Top Tip: Leverage your strengths, passions, and expertise to identify a business idea that aligns with who you are. There are also some great startup incubator programmes that support businesses in their early stages. Check out this list: Incubator Programmes
Useful Resource: How to Start a Business Guide – Forbes
How to Register a Business (5600 monthly searches)
Registering your business is a crucial step in establishing its legal identity. Depending on your location, the registration process may vary, but it typically involves the following:
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- Choose a business name: Select a unique and meaningful name for your business and check its availability.
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- Obtain necessary permits and licenses: Identify the permits, licenses and insurances required for your industry and comply with local regulations.
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- Register with tax authorities: Obtain an Employer Identification Number (EIN) or Tax ID from the relevant tax agency. If you are a UK business you will need to register for VAT if your turnover is £85,000 or higher, or you can register for it voluntarily.**
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- Set up a business bank account: Separate your personal and business finances by opening a dedicated business bank account.
Top Tip**: If you do register for VAT, remember you can claim VAT on goods and services you’ve bought from other businesses, and your business will be eligible for VAT refunds if you sell zero-rated products. Voluntary registration can help boost you company’s public image as it will be make it seem bigger and more established.
Useful Resource (UK): Gov.uk – Set up a business
Useful Resource (USA): SBA.gov – launch your business
How to Write a Business Plan (3300 monthly searches)
While some businesses succeed without a formal business plan, having one can significantly increase the odds of success. A business plan serves as a roadmap for your venture, outlining objectives, strategies, sales and marketing plans, and financial projections. A well-crafted business plan serves as a roadmap for your business’s success. You may need to tailor the business plan depending on its purpose i.e. is it for your, or a potential investor? At a minimum, it should include the following elements:
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- Executive summary: A concise overview of your business, its goals, and how you plan to achieve them.
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- Company description: A detailed explanation of your business concept, products/services, and target market.
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- Market analysis: Research on your industry, competitors, and target audience.
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- Marketing and sales strategies: How you plan to promote and sell your products/services.
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- Financial projections: Projections of your business’s financial performance, including revenue, expenses, and profitability.
Top Tip: Keep it simple. Remember it’s about you and people buy into people. Read our quick guide of what investors are looking for in a startup to invest in: Linkedin Post – Startup Investment
Useful Resource: Simple Business Plan Template – Forbes
How to Build a Website (1800 monthly searches)
In today’s digital age, having a professional website is essential for any business. Follow these steps to build a website:
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- Buy a domain name: Select a domain name that reflects your business and is easy to remember.
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- Decide on its purpose: What features do you want? Is it to show clients a portfolio? Do you want to have a blog? Do you want to sell products or take payments?
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- Choose a website builder: Use a website builder platform or content management system (CMS) to create your website easily.
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- Design and content: Create visually appealing and informative content that showcases your products/services.
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- Mobile responsiveness: Ensure your website is mobile-friendly for users on smartphones and tablets.
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- Search engine optimisation (SEO): Optimise your website for search engines to improve its visibility and ranking.
Top Tip: To keep costs down use on e of the website builder platforms below. If you don’t have the time, it may cost a bit more, but hunt around for freelance web developers that specialise in designing sites for the industry you are entering.
Useful Resources: WordPress GoDaddy Wix Squarespace Zyro Zoho Shopify
How to Start a Business with No Money (1400 monthly searches)
Launching a business with limited funds is possible with creative strategies and resourcefulness. Consider the following tips:
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- Start as a service-based business: Offer services that require minimal initial investment, such as consulting or freelance work.
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- Bootstrap: Use your personal savings and resources to fund the initial stages of your business.
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- Partner with others: Collaborate with co-founders or partners who can bring in complementary skills and resources.
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- Crowdfunding: Consider crowdfunding platforms to raise funds from the public for your business idea.
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- Leverage free marketing channels: Utilise social media, content marketing, and networking to promote your business without spending on advertising. Linkedin can be a great source of information, guidance and link you to potential clients – make sure both your Company page and personal profile are set up detailing what you do and who you are!
Top Tip: Raising too much capital or raising it too early can have a negative impact on your startup. Although it is tempting, being patient and conservative with spending will teach you more in the long run and you maintain your control for longer. Test the waters yourself. You will learn as you go.
Useful Resource: Launch a Business with No Money – Entrepreneur.com
Conclusion:
The most commonly Googled questions reflect the common concerns and priorities of aspiring entrepreneurs. As you venture into the world of entrepreneurship, remember that success is attainable with careful planning, determination, and a clear vision. Identify your strengths, research your market, and continuously adapt to changing circumstances. There will be lows and struggles, but there will also be highs and wins. With the right resources and a resilient mindset, your startup journey can lead to a rewarding and prosperous future. Best of luck on your entrepreneurial endeavours!
We specialise in helping technology startups around the world grow their teams. When you get to this stage, reach out whether it’s for guidance, advice or if you’re looking for your next hire: Contact us
*These figures were found at novuna.co.uk which was last updated January 2022
