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Posted: 2005-04-18 / Author: Ten Things You Need To Consider Before Starting Up In BusinessStarting and running your own business is an exciting challenge and can be financially and professionally rewarding. The most successful businesses are those run by people who have taken the time to plan their business, rationalise their reasons for starting it and who have conducted research and sought advice.Purpose of The Class There are very few legal ‘get rich quick ‘ schemes and the success of a business correlates directly to the efforts put in by the small business owner. Time spent planning and learning at pre-start up stage can maximise your effectiveness once your business is up and running. Key Points There is no-one to interview you for the position of owner of your business and no-one to determine your your suitability for the job – except you. Find out how to self-analyse to assess your abilities. An important part of self analysis should include what you want to achieve as a result of starting your business. You are the most important part of your business and you stand to gain or lose the most. A balance of both technical and management skills need to be in place so that your business can survive and thrive. A realistic assessment of strengths and weaknesses and strategies to overcome shortcomings will increase your chances of success. The quality of management (you and others), is key to the success of any new business. Surveys show that self-employed entrepreneurs, running their own businesses, on average, work around 60 hours a week. Income can be erratic – a pay cheque does not appear on the 30th of every month! These issues do not have to be a problem, but they do need consideration and planning. Five Questions This Class Will Answer 1. What criteria do you need to meet to succeed? 2. What are the main causes of failure for new start-ups? 3. How can you judge how your performance will impact on your business? 4. Where can you go for impartial advice and support? 5. How do you know what steps to take to start your business – and when to take them? Five Common Problems This Class Will Help you to Overcome 1. People underestimate the commitment involved 2. People don’t fully consider themselves, the impact on their family, or their reasons for starting their own business 3. People fail to learn, acquire or employ the full range of skills and attributes needed 4. People fail to plan financially for pre start -up and early start up times when income may be low – or non-existent 5. People cannot cope with setbacks or failures www.lenseseyes.com
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