Starting out in a new business and being your small business startup journey
I remember many years ago how exciting it was to begin the small business journey.
It has been a journey twenty years later that’s is full of ups and downs, fun and pain and plenty of laughs.
Twenty years in and I have no regrets. In fact, anyone that can do it, should. Yes like all of us I have made some dumb decisions but I don’t have any regrets? No way, in fact, I have also made some good decisions too.
There have been a lot of characters I have met in my business career over the last twenty year’s. Some shady ones, some terrific ones and some that have become lifelong friends. Yes, I have been used, abused and ripped off but I have also been supported, encouraged and led to opportunities.
Starting out needs support
Your business startup relies on lots of support from friends family and associates. You really know who are your friends and where your support comes from. For me, it was my wife and kids who have driven me to success. There have also been many friend’s who have looked out for me along the way.
You see as an accountant many don’t see you as a small business person but there to help others. It took me a long while to accept that I too am a small business owner with the same pain, enjoyment and problems that you too have in small business.
Tips for business startups
So what advice can I give you as a new budding small business owner :
1. Just go for it! Have no regrets and enjoy the ride. Believe in yourself! Destroy the non-believers and the dream stealers. If you make strategic decisions based on evaluation then your business will grow.
2. Set goals. Set a road map don’t amble along in business with no direction. A person who knows his direction might get lost along the way but will always find the way to their final goal or destination.
3. Celebrate success, acknowledge others and enjoy the ride. Failure will happen but pick yourself up learn to understand what went wrong. Remember the sun shines tomorrow and you can do it all again. Don’t give up and follow the plan.
No matter at what stage you are in business a big congratulations It’s not easy to run a small business and the statistics say many don’t succeed in the first three years.
Live life to the fullest and grab every opportunity with no regrets. All the best.
Many of us launch a new business based on an idea or a need to sell our professional or trade expertise.
Business startups offer challenges
Starting a new business will provide you with new challenges and opportunities! It’s fun, it’s exciting and it will be rewarding.
Whatever your reason for starting your new business, your future will be an exciting time. However, it requires careful planning, lots of energy and the ability to follow through with the journey during times of toughness.
Geoff and his experienced team of professionals can guide and advise you on launching your new business and making it successful from day one!
Whether you are yet to start or are in the early stages of launching your new business, we can help you to work through the logistics and questions that everyone has.
Practical startup tips
Here are some practical tips that can help you start your new business:
- Talk with us so we can gain an understanding of what you are trying to achieve, your dreams and business aspirations.
- If you are buying an existing business, we can help make sure it’s the right one for
- We will discuss and explain the different structures available (sole trader, partnership or company).
- We can set up your company or family trust if that is the right structure for you.
- We can clarify what you need to do to meet ATO regulations when getting started and applying for an ABN.
- We will help you establish a practical business plan, cash flow projections, budgets and trading forecasts. We will help you set a 90-day action plan.
- We can help you present your program to your Bank manager if you’re looking for finance.
- We can also advise on the best sources of finance.
- We can work with you to ensure that you set up the right accounting systems in place to manage the financial paperwork.
We have helped lots of small businesses start out. We know you will have lots of questions such as dealing with government red tape and other businesses as this may be something you haven’t done before. We can help you determine what are the essential tasks in the first few months to get your business off to a flying start.
We welcome you to contact us for a FREE initial consultation. Please call us on 03) 9597 9966.