Click me
Transcribed

Ten Tips for Small Business

QUICK OFF THE MARK TEN TOP TIPS FOR SMALL BUSINESS UNDERSTAND ʼWHY' YOU ARE STARTING A SMALL BUSINESS You must always remember why you decided to start in business yourself. Whatever your motivation, you must find a way to remember the reason 'why' when things get tough. 1. WHAT IS YOUR POINT OF DIFFERENCE? What is your main point of difference going to be? During your research stage, you must check out your competition to see if and where there is a gap in the market. Don't directly steal from them though, keep your integrity at all times, it is very important. HOW ARE YOU GOING TO STRUCTURE YOUR SMALL BUSINESS Make sure that you get the structure of your business right. A company, partnership, or sole trader all have benefits depending on what type of business you want to be. They all have tax implications and liability implications. (3, LAW, RULES AND REGULATIONS 4 Ignorance of the law is no excuse! You can be liable for something that you didn't know even existed. Make sure you are fully aware of all of the laws, legislation, rules and regulations in your chosen area of business. YOU ARE THE BOSS – ACT LIKE IT You are in charge of your own destiny now! If there are problems in the business it is up to you to sort it out. If the matter requires to put in an all-nighter, then you have to do it. You are the boss, you need to lead by example. 5, DO NOT ACCUMULATE DEBT (UNLESS YOUR ACCOUNTANT SAYS IT'S OK) 6. For every success story, there are hundreds or thousands of small business people and entrepreneurs who have lost the shirt off their backs, to banks and money lenders. If you can build your business without borrowing money, or becoming encumbered under debt or a bad lease, then it is probably better that you do. TAKE TIME OFF - IT IS REALLY IMPORTANT There is no point in taking some time off and then having your head at work the whole time. Be present with what you are doing right now, forget about work, it's not going anywhere, it'll be there on Monday when you get back. and (7) SURROUND YOURSELF WITH GREAT PEOPLE 8, It is really important in business to surround yourself with good people! If you treat people properly, you will get the best out of them and they are more likely to take some ownership of their role. GET BUSINESS ADVICE AND ONGOING TRAINING If you are not getting better, then you are getting worse! All of your competition could be learning new skills, developing existing skills further and broadening their skill-set. If you are not doing the same then you are dropping behind. (9) GET MORE ORGANIZED 10 It is really important that you use more than Outlook or Google email and calendars in your business. Doing the tasks long-hand that a good software can do can take up a lot of time, and you may end up not even doing them.

Ten Tips for Small Business

shared by Quickoffthemark... on Dec 30
90 views
1 share
1 comment
I have had a number of small business start-up’s over the years. I have had a lot of years of experience and I have learnt some hard lessons in business. The list below of 10 small business tips a...

Writer


Tags

None.

Category

Business
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size