Saturday, August 21, 2010

Know These 10 Things Before Starting Your Business

By Jerome Baladad

Having reached a point in life when you've identified that developing a business as being your life purpose, then, proceed to take a pause for a few critical moments. Get pen and paper in hand, jot down all the things that you will need. You may have to consider knowing at least 10 things before you actually get to start operating this business. Seize the opportunity to develop and acquire good knowledge on the following steps to help you grow the business in leaps and bounds:

1) Write down even a simple business plan - this will incorporate "where, the what, when, the hows, the whys" of your fledgling business endeavor.

2) Learn to understand the ways and wherefore of accounting and finance - learn debit and credit, income statement, cash flow statement, plus the balance sheet.

3) Understand taxation - minimize, but don't avoid paying your taxes.

4) Know how to register properly your business with the local government office closest to your place.

5) Have fun doing customer service.

6) Be comfortable with multi-tasking to the extreme.

7) Learn how to attract the best coaches and mentors who will provide you with wisdom on how to run your business.

8) Learn how to market and promote your business in the areas where your targeted customers (or clients) are lurking.

9) Learn the many ways of sourcing funds to keep your business going, especially when sales go so low, and you feel you're about to reach your wits end, and question yourself why you got into business.

10) Learn along the way about recruiting and keeping the best talent that you can attract, given your limited resources.

There you go...go now and start that business. More chances than one, it will open the doors leading to your eventual long-term success in life.


I write mostly about changes, and issues revolving around moving-on themes. You may read more about them, mostly written in a personal but daring viewpoint, in these links.
http://www.jeromebaladad.com/
http://takingleadnow.blogspot.com/

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...