Even if you're confident your idea can be turned into a viable business, you must carry out some basic start-up market research to find out more about your competitors and potential customers. You need to be sure your business can get a big enough slice of the pie. Market research will prove invaluable when it comes to promoting your new business. Naming your new business is one of the more fun start-up tasks, but you also need to address key financial matters such as setting prices and working out your start-up costs, after which you’ll be able to explore sources of start-up finance.

Before you start, find out how key laws will affect your business. You might have to protect your intellectual property and safeguard yourself in other ways by insuring your business. To help you, there are various sources of information and support. At this point, you will need to produce your start-up business plan, especially if you need to attract funding.

Now armed with the all-important business plan, you need to work your way through another set of key tasks to launch your new business.