Starting a small business may be exciting. You get to be the boss; have flexible timing, you get out what you put in. You get more me-time. You’re doing this all for yourself. More time, more money.
Dreams are great, but I’d say, proceed with caution.
A simple rule of thumb; if you’re still struggling to make ends meet, starting a business might not be right for you right now. Make sure you have enough. It is important that you are mentally ready to pinch off your personal savings. That might be a big ouch.
Then, make sure you have a crystal clear understanding about the field you want your business to join. Be certain of your demographic and always consider if your product or service has an outlet to grow among your target market. Also, know your competition. I would recommend an extensive research with your SWOT analysis.
I’m no philosopher, but I’ll try explaining it like this. Imagine you’re growing a tree. You might need to try out different fertilizers and conditions before the tree shows any signs of blooming. Understand that the nature of business might take a while before it shows you its value. You might have to go through the process of trial and error. It might take a while before you start making sales.
My next point, is where the money’s at. Now hear me out. An aspect often forgotten for all businesses is having a book keeping system. Always know where your files are and how to access them. You’re going to hate this but you need to sort out the junk icons on your desktop and create a system to keep the records.
But here’s the bomb. Financio is perfect for you and takes most of your accounting headaches away. Once you try it, everything else will seem like a piece of cake. And you free your hands to do what you do best, all you want.
When you are making a business decision, always get a third party opinion. What you do with the opinion may be up to you. Always listen to good advice to inspire you, or raise some sort of a red light in the call you’re ready to make.
Now go forth, and make it happen. Remember, Financio is here for you.