You have been inspired to set up your own enterprise, you have a vision in mind. Before you get too deep take the time to flesh out the idea. Creating a business plan is a useful format to follow. Consider the key aspects of your enterprise and get them down on paper; this will also highlight areas of research to be undertaken to evidence a viable market for your idea.

Considering how you set yourself up at the beginning could save you a lot of work later, and the organisational structure that you choose for your enterprise will affect finance streams available to you. It can be difficult to foresee the future shape, and inevitably this will change over time, but knocking ideas around with others with knowledge and expertise and exploring different scenarios will be invaluable. Resist assuming that because you have a good idea everyone else will think the same!

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Checklist

1. Planning Your Enterprise

Here we explore the following aspects of planning your enterprise:

1.1 Organisational Structure and Financial Implications
1.2 Fundraising     
1.2.1 Potential Funders & Investors     
1.2.2 Crowd Funding
1.3 Market Research
1.4 Marketing and Communications Strategy
1.5 Understand your Product, Processing and Quality Issues
1.6 Finding Advisors
1.7 Producing a Business Plan   
  1.7.1 Financial Forecasting
1.8 Relevant Legislative & Certification Obligations