This is possibly the most exciting time in a business’s life cycle and is also the most time consuming! Your main thoughts surround getting your next customer, doing the work and then getting paid for the work, as well as trying to run a business, manage relationships with your staff, your bank, etc.
However, getting the structure of your business right from day one and understanding what will help your business grow are critical to the long term success of your business. Have you developed a business plan? Have you identified how much start-up capital you need and do you know where it will come from? Will you need staff? How are you going to reach your target customer base?
The most important thing to consider when starting a business, or when in start up mode is what you, the owners, want from the business. Is this just a lifestyle business which will allow you sufficient funds to live your life, or do you want to expand into something much bigger and maximise wealth? Once you’ve identified that, and come up with a well thought out business plan, you’ll be in a position to maximise the potential of your business.
Ward Goodman can help you with everything you will need to create a successful, sustainable business as well as dealing with all of your taxation and accounting needs. So give us a call and one of our experts will be please to help you.