With so many options out there in regards to business building, it is absolutely essential to know how to get started in business and where exactly to begin. There is nothing worse than being so overwhelmed with all the options that you are unable to focus on what is needed to be accomplished. Discover incredible recommendations on getting started in business in this snippet of an interview between Dale Beaumont and Wayne Burgan.
Wayne Burgan is the creator of the book-keeping software Cashflow Manager who has served on the Public Practice Committee, the South Australian Small Business Committee, and the Small Business Centre of Excellence for CPA Australia.
What recommendations would you make to someone who wants to get started in a business of their own?
Owning your own business can be tremendously rewarding, but it is not all beer and skittles. You will have enormous pressures from time to time, have to work long hours, possibly go without holidays, and it can be enormously stressful on you and those around you. So it is vital to do your homework first. Detailed questions are available in Starting a Business? How to Avoid Losing your Shirt! which is available on our website, but here is a summary of the questions you need to consider:
- Have you got what it takes? Owning your own business can bring a lot of extra pressures that an employee does not normally face. Will you cope when they come?
- How well do you understand the business? If you understand the business or industry you plan to go into then you will have a much better chance of success.
- Other than enthusiasm and the best of intentions, what will make your business successful?
- What will make you different and unique? Why should I buy from you rather than any other alternative available to me?
- Do you have, or can you access, the financial resources required?
- What sales will you need to achieve?
- What physical resources will you need?
- What human resources will you require?
If you are struggling with some of these questions, a good accountant can help you. And when you decide to start your business they can also help you with other issues such as the best legal structure for your business.
For more on Recommendations on How to Get Started in Business and this check out “Secrets of Small Business Owners Exposed!“