I set up my own business a few years ago now, and back when I was doing my research it would have been nice to be able to read an article published by someone giving the best advice they can. So I decided to take it upon my self to get my article posted on as many websites as possible to help people who are thinking about starting up or even expanding. I’ve been in the boat of starting up and I no how difficult it can be if you don’t have any advice at all. I would say that I’m lucky as I got a lot of advice of my mum who runs a business. Anyway back to what you’re reading this article for, advice on starting a business.
There are many things with in a business set up that will help your business to thrive, or survive. At the moment times are difficult with the recession in order. And there are ways around large cost that come with running/starting your business.
For me to start up my business I spent at least 6-7 months researching. The reason for this is no matter how good your idea, or how unique your idea is, there will always be some one not far behind you or someone just in front. The reason research is so vitally important is the smallest of details that could be misted could have most catastrophic of out comes… There are a few sayings that I’m sure, have helped me through some hard times. And they are:
Live by the sword, die by the sword, this means if you carry out an action, you have to have the convictions to see it through. This is vital for a business to work
Knowledge = power and power = money, the more research you do the better, you never no who is around the corner and its better to be prepared than to have try and prepare under stress or pressure. Take the time to get to no and you will be able to make better decisions for yourself and your business.
Every action has an equal and opposite reaction. This is the way to balance out your business. Apply this saying to everything. For example, you are relying on a company to deliver equipment but you don’t make the time to meet the delivery. Equal reaction is you don’t get the equipment you need to meet your customers request’s opposite reaction is your customer will go else were. And you loose revenue. I apply this saying to every thing I do with in my business. Never forget there are to sides to a coin… be prepared for anything that comes your way.
It doesn’t grow on tress. This is saying my mum us to use when I was a child asking for sweats. Money unfortunately makes the world go round and it doesn’t grow on trees. Spend too much and you could have a problem, don’t spend enough and you may buy faulty goods. Research what you spend your money on to get the best price.
There are many requirements that your business needs to meet in the eyes of the law. This is so myself and you can receive or deliver a service, and feel like are rights haven’t been affected and that the product we are buying is safe… If you’re trading in the UK and you don’t meet legal requirements you could find your business being fined, or closed down. This is never good for bringing in the money or your business reputation or even your personal reputation. … Remember every action has… there is a website available to English views that is called business link. This is well worth checking out before throwing your self into the business world.
There are many things within a business that can cost or make money. Both are equal to each other. Sometime’s you have to spend to gain. For my business I need an office as I trade in website designs, website building and website selling/buying. I need for my business an office to work from as it is not possible for me to work from home due to the requirements of my business. Does this apply to you? There are ways to save money, do u need an office? No… Work from home, and you save yourself money on rent or a licence for the building. Yes I do need an office or a focal point in which my business is run from, then this is where your research pays of. I spent around 3-4 months reviewing were I would go to rent an office. I wanted the best my money could get. I reviewed many many websites for this. My research led me to a website called businessroute.co.uk. They had many categories in which to search, that were specific to different business types. I simply scrolled down, clicked on the appropriate link for my business and all the business they had for sale came up. All listed with in-depth detail about what you could buy, with clear labelling at the top of the advert for the asking price, turn over and profit made by that specific company. Whilst looking through the internet I found businessroute.co.uk to be the most user-friendly and competitive with regards to pricing that there was available on the net. I looked through the site and found the articles link very useful. They offer a substantial amount of advice covering a wide range of question types and advice about how to go around buying a specific type of business, For example an estate agency. The most handy and time saving feature of businessroute.co.uk was that whether your buying or selling a business, they will filter through the business available for both sides and send you the advert which applies best to the preference you set, whether location or business cost or annual turn over. There are many preferences’s to choose from. And if you were looking to sell your business there is no charge for having your advert on the site and the site is also free to sign up to. And a bonus the site offers plenty of admin support so if you’re having a problem there’s some one to talk to not just an automated service.
When it comes to money with your business the only advice I can give is be tight with your cash. It doesn’t grow on tress.
Decision making: if you have a want to do something, this will drive you to do well in your chosen subject. But running a business doesn’t work alone on passion. You need the right mind set to run the business and make the necessary decision’s to aid your business’s growth. When it comes to making decisions, decision that benefit the business are the only ones to make. This is difficult as this may lead you slightly in a different direction from originally planned. For example, if a member of your team needs to be dismissed for misconduct, its hard sacking some one, but if they are breaking regulations it’s either your business on the line or its there job.
For buying your business it’s always best to look around and research your options. Then make a decision on the pro’s and cons. to buy my office I used the website http://www.businessroute.co.uk/ as it had the best to offer for my business as free sign up, advice if needed, and competitive pricing. With decision making it’s also a good idea to seek a second opinion, never go to someone close to you as there view maybe similar to yours and or may not be the best for the business
Setting up shop:When it comes down to accepting an office or a place from were you base your business, looks are not important until it is being opened. Depending on the nature of the business will determine how much money needs to be directed towards a renovation. If possible work from home as much as possible in the beginning and put in as much self manual labour as possible to save money..
Keeping on the straight and narrow: I am of the belief that there are many key factors in keeping your boat a float. I always base my decision on priority that benefits the business. Even small things, like buy extra equipment, such as electricity monitors to help keep the spending down on electric helps. Always remember that research is the key to staying ahead. Even though your business is personal to you; there’s going to be some one who try’s to do better. Research keeps your business in the modern world, and gives you the best opportunity of thriving. If you act with honesty and professionalism your business will reflect this. And theres nothing wrong with asking for advice, I would always advise that money spent on professional advice is always money well spent.
Tips: Be the best that you can, making the right decisions are extremely important, and when it comes to fixing a problem, NEVER go for the quick fix as this will cost you more in the long run.
I hope this has been of some help to you. I only wish there was something like this to read back when I started.
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