OnlineCapital Consulting News and views from OnlineCapital
This could be the ultimate list recently published by News Ltd. We have discussed some of these ideas (and others) here before, but we believe the key is to get advice and get it early.
WHEN you are thinking of starting your own small business it is hard not to get carried away by all the excitement.
But for every entrepreneur that makes it look easy, there is another who fails, in fact almost half of all new businesses in Australia close within three years, according to the Australian Bureau of Statistics.
So what are the things that you should consider before taking the plunge to give you the best chance of success?
Andrew Griffiths, author of the best-selling book The Big Book of Small Business, gives you his top 10 tips:
1. Be clear about your “why?”
2. Know who your customers are
3. Check out the competition (and work out how you are going to be different)
4. Do your homework on the rules and regulations that might affect you
5. Get some help to develop a realistic set up budget
6. Make sure you are going to be charging enough
7. Work out how you are going to get customers
8. Get your advisers in places
9. Make sure you have your insurance in place
10. Look for a mentor
