One of the most exciting parts of running a business is the leadup to launch. Sure, it can be nerve-wracking. As a business owner, you’ll spend most of the time trying to find ways to stay calm and professional! But really, this is the time when your heart is racing and every part of you just wants the doors to open and for trade to begin.
We would suggest, however, spending this period in a constructive and strategic manner. While the excitement is natural, it’s important to focus on the groundwork that will ensure your business is set up for success from day one. With this in mind, here are X things you must do before your business opens, giving you all the tools and confidence you need to hit the ground running.
First Off, Invest in Insurance
The first thing you need to do is invest in an appropriate insurance policy. Still in 2025, a large portion of small businesses do not have business insurance, and this puts them in a precarious position where any claim of negligence, property damage, or even a minor accident could lead to devastating financial consequences. This is totally avoidable, especially since the top insurance policies for small businesses are customisable and cost-effective, ensuring even the smallest companies can access the protection they need – without breaking the bank.
Set Up a Solid Financial System
The next thing you need to do is establish a robust financial system. This includes opening up a business bank account, setting up accounting software, and creating a clear budget that will track expenses and revenue. One of the things that trip many new businesses up is failing to properly organise and record their financial movements, which ultimately leads to a confused cash flow and potentially devastating mistakes. With a clear financial system in place, you can make sure your expenses, tax deadlines, and financial decisions are all dealt with professionally and effectively.
Build an Online Presence
Just because you’re not trading yet doesn’t mean you can’t have an active online presence. On the contrary, in today’s digital world, getting in early and building up an engaged fanbase can be the difference between success and failure. The power of the pre-order cannot be forgotten, of course. Yes, you don’t have a physical product or service to offer just yet, but if you’re about to open for business, that means you have something waiting backstage, and there’s plenty of time to create anticipation. Leverage your online platforms to tease your product, sharing behind-the-scenes content to get people excited, while also highlighting the unique aspects of your upcoming business.
Secure a Winning Team
During the lead-up to your business opening, it’s likely you’re hiring employees and getting a team together. Once again, this could be the difference between building a business that works and a business that fails within the first five years. As a business owner, it’s your job to secure a motivated, trained team that is prepared to drive your company forward in those early years. Take the time to carry out an efficient interview process, and make sure you train your team before opening so that they’re prepared to provide excellent service, understand company processes, and contribute to a positive culture.
Take a Deep Look into the Market
The last thing we think you should do is take a moment to really look at the market. If you’re about to open for business, that means you’ve had at least a year or two of preparation. But one of the most important things to know about the business landscape is that it can change in the blink of an eye. The market you’re entering now might not be the same one you were preparing for a year ago, so it’s crucial that you take time to research and assess the current state of your industry, and adjust your business plan if needed. If you do this, you’ll make sure your company starts with a spring in its step!