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Welcome.

Once you’ve uncovered a great business idea, the first step is to bring it to life. You need to turn that idea into a healthy business that can survive and thrive. Your business needs to be able to grow. Here are our ten steps to starting a seriously healthy business.

To find out more, head to www.hiscox.co.uk/smarta


Start a healthy business.

1. Have an elevator pitch 2. Know your that grabs attention audience by name

3. Reach for the top of Google

Once you’ve got a killer business idea,

Your business idea is nothing without

No matter who your audience is,

you need to know how to sell it. It’s no

an audience willing to splash their

one surefire way of getting in front of

good mumbling when someone asks

cash on it. You can’t expect your

them is to put your name at the top of

what your business is, you should

business to make any sales if you

Google searches. Spend some time

tell them quickly and fill them with

don’t know who you’re selling to, so

on Google’s Keyword tool and figure

confidence that it will work.

get to know them.

out what your audience is searching

Your elevator pitch needs two

You should know dozens of things

for. Once you know, start creating

things: your idea and your unique

about your audience. Are they a

engaging content around those

selling point. People only want to

certain age? Do they have specific

phrases.

know what you’re doing and why it’s

hobbies? Are they likely to spend their

different, so give it to them as quickly

time looking at particular websites?

exciting because the more people

and simply as possible.

These things all matter for how you’ll

share it, the higher it will appear on

reach them, how you’ll sell to them

a Google search. Infographics are a

and how they’ll keep your business

great way to get people sharing your

healthy.

content, so look into getting some

It’s important to keep that content

made about the topics your audience cares about.

To find out more, head to www.hiscox.co.uk/smarta


4. Figure out your (realistic) numbers

5. Have an optimistic five year plan

6. Build up partnerships that will pay off

Getting your numbers right makes

Now you’ve got the realistic bit down,

When starting a business, you need

sure the brains of your business are

it’s time to dream a little. If your

to know the people who are going

healthy. You need to know when your

business is as healthy as you want

to keep it as healthy as possible.

business is flourishing and when it’s

it to be, where will it be in five years

Other businesses, mentors and

in dire need of a helping hand. Having

time? This isn’t something to measure

employees will make or break the

realistic figures for how your business

your success against, more a plan for

health, reputation and growth of your

will grow and how well you need

your branding and your business as a

business. Invest your time wisely in

it to do to make a living is the only

whole.

the people who will represent you

way to gauge the true health of your business. These figures are all about being

How many sales would you like to have made within five years? How many followers could you have? Will

well and open the right doors for your business to grow. Write out a list of people who could

completely realistic. There’s no use

you expand? These questions will

help your business. Feel free to dream

kidding yourself and predicting

help you work out what’s coming next

big and be specific. Once you have

a million sales two months after

and remind you of the benefits of

a few dozen people who can open

launching a product, you’ll only end

creating a healthy, growing business.

new doors, increase your audience or

up wondering where it all went wrong

bring in new sales, write down how

when the time comes. Be conservative

you can reach them. Start with the

and celebrate if you outperform your

easiest connection and make those

estimates.

partnerships happen.

To find out more, head to www.hiscox.co.uk/smarta


7. Keep up with the tech trends

8. Don’t forget the email list

9. Get to know the competition, all of it

For your business to stay healthy, it

A mailing list is a hidden goldmine of

You may have an idea of who the

needs to stay up to date. If you fall

any business. It may not provide much

competition is, but do you know how

behind on what tech you could be

at first, but once your business has

they are doing? Are they expanding

using, the growth of your business

grown into a healthy size, it’ll start to

into new markets or are they fading

will suffer. Make sure you’re reading

provide huge returns and keep things

into the background? Is their brand

the right blogs for your industry

growing. With a mailing list that grows

similar to yours? If it’s too similar, it

and keeping an eye on what your

as you do, you can turn browsers into

could harm the health of your own

competitors are doing.

buyers and keep customers coming

business.

From saving you time to helping you reach a larger audience, new tech

back again and again. Start capturing data with sign up

You’re probably not psychic, so knowing exactly what you’re

can keep the heart of your business

forms on your website. Offer your

competition is up to will be difficult.

pumping as quickly as possible. One

audience an interesting ebook in

But spending some time investigating

quick win is to start using Evernote,

exchange for their details, like we’ve

their websites, their blogs and their

the software that lets you and anyone

just done! Once you have someone’s

Twitter feeds might tell you more than

in your business create, proof and

email address, make sure you don’t

you expect about what’s going on.

edit documents from anywhere at any

send out too many updates or email

Make sure you check them out on

time.

your audience with information that

DueDil too to get a picture of their

won’t interest them. Keeping your

financial performance.

mailing list healthy is a big part of keeping your business healthy.

To find out more, head to www.hiscox.co.uk/smarta


10. Get the right insurance. Many small businesses start out as just an idea, as your business grows so will your insurance needs, here are a few of the insurance policies you might need to consider.

1. Professional Indemnity Insurance

3. E-Risks Insurance

or handle their data, professional

cyber-related dangers such as

If you provide a service, advise clients indemnity insurance can help

E-risks insurance protects your business against many of the

damage caused by viruses, hackers

protect you. It will offer cover for compensation you may need to pay to correct a mistake or cover any legal costs due to negligence, such as an allegation of incorrect advice or making a mistake in your work.

or electronic identity theft. Most businesses rely on their IT systems to operate and communicate with their clients and therefore may want to consider this.

2. Office Insurance

4. Public Liability Insurance

separate business premises, having

the case of injury to a member of the

Whether you work from home or the right insurance cover for your

As a small business you do your best to limit the possibility of injury or illness to your employees resulting from their work, but if they do have an accident or become ill, your business could be sued for compensation under your employers’ liability insurance. As a result, businesses in the UK that employ staff are legally obliged to have employers’ liability insurance to provide cover against a claim from an employee.

public or damage to their property as

office is important. You can also extend your policy to include business interruption to insure against a reduction in your income levels as a result of an unforeseen events, such as a floods.

Public liability insurance covers you in

5. Employers’ Liability Insurance

a result of something your business has done. It can insure you for compensation costs incurred when a client, contractor or member of the public, is injured and your business is at fault. It will also provide some cover for legal fees spent in defending a claim.

To find out more, head to http://www.hiscox.co.uk/smarta/


Business insurance offer for Smarta Members. If you want more information about how to protect your business we have an exclusive offer with Hiscox for Smarta members. Hiscox insures more than 130,000 small businesses and has won ‘Best Small Business Insurer’ in the Start Your Business Awards for the last four years in a row. They work hard to understand the risks your business may face, so you can choose insurance that’s right for you. To find out more head to.....

www.hiscox.co.uk/smarta or call 0845 512 0746

Mon – Fri, 8am- 7pm excluding bank holidays

To find out more, head to www.hiscox.co.uk/smarta


10 steps to create a healthy business  

Once you’ve uncovered a great business idea, the first step is to bring it to life. You need to turn that idea into a healthy business that...

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