8 Points to Cross Off Your Checklist before Business Setup
Starting a business in a glorious, future-facing and ambitious country like UAE is any entrepreneur’s dream. But there is a plethora of questions attached to the ambition of establishing your own company in Dubai. Many of them revolve around the business setup itself, like “Where do I start and how do I go on about it?” and “What licenses do I have to procure?”
Well, these questions can be laid to rest by business setup consultants like these, who will take care of the entire company formation setup with minimal involvement from the entrepreneur.
However, if you’re starting on your business setup, the following checklist of 16 points must be crossed off in order to successfully establish your brand.
Choose your risks. Entrepreneurs are renowned for stepping into the unknown to assess the risks that come with forming your company. However, only those that succeed know that the risks they bear are diligently chosen. They often rely on heuristics and best practices to narrow down solutions that work best.
Don’t be dispirited easily. The difference between successful people and others is the ability to stay positive in times of despair and failure. Successful people have the capacity to put the past behind them and think about the future. They don’t attribute their failure with their fate, the economy, ill-fate, or people. Come hindrance, they remain resilient and try to circumvent the problem. And if that’s not possible, they choose a different, achievable goal.
Learn from others. In order to stay dynamic and get to where you envision yourself to be, you need to find the right mentors and join groups that are conducive to entrepreneurial growth. Take up training courses which upskill you. You will save a lot of time and resources when you learn from people that have had faced a certain circumstance before.
Think business every moment. The impact you make won’t be serious if you do not take your business seriously. And that includes keeping track of income and transactions, and understanding that personal money and company funds are two very different things.
Understand the difference between working for the self and establishing your company. If you’re out to setup your business in Dubai, you’d need to develop business models and hire business setup professionals to implement them. If you do not outsource a specific task to professionals, you are limiting your company’s potential.
Get to know your investors. A large establishment will likely need a lot of investors to grow. Hence, a good practice is to understand your investors’ focus, and what industry they are willing to wager their money against. Angel investors and venture capital groups are some of the most sought-after investors. You can attend their meetings (or hold them) to get to know them more. Create your own unique pitch so you can get the most attention out of the investors.
Make yourself known. The easiest and best way to do that is getting your business online. Everyone is on the internet. If your business isn’t on social media and on search engines, you’re definitely missing out on a huge chunk of audience. If you’re carrying out digital marketing, you’d at least need a mobile-responsive website and an email list that you can use to interact with your customers. Traditional marketing like word-of-mouth is still popular and occupies a huge part of marketing, but if you’re not marketing digitally, then you aren’t prepared for the future. The regular customer will look up for your business on the internet, read the reviews and decide whether to go ahead with your services or not. Hence, it is important to maintain a positive review space online. Moreover, if you have coupons and special offers to offer your customers, then emails and social media is the way to disseminate them.
Never stop learning. What’s lucrative now doesn’t necessarily have to be so in the next decade. So, never fall under the notion that a particular idea or way of doing something is a long-term solution. Always keep an eye out for the latest trends. Constantly keep working on newer ideas. The market is dynamic and you cannot afford to be complacent with the present. Always listen to your customers and only then will your business flourish.
Start Here
If you have these tips crossed off your checklist, you’re good to go! Get in touch with us at +971 4321 6631 to setup your business in Dubai!
