Know these 10 things before starting your business

Posted by ei2Aevai on August 15th, 2020

Once you have reached a point in life where you have identified that running a business is your life purpose, proceed to pause for a few critical moments. Take paper and pencil in hand, write down all the things you will need. You may need to consider knowing at least 10 things before you start operating this business. Take the opportunity to develop and gain a good understanding of the following steps to help you grow the business by leaps and bounds:

1) Write even a simple business plan - this will incorporate the "where, what, when, how, why" of your fledgling business.

2) Learn to understand the ways and why of accounting and finance: learn debit and credit, income statement, cash flow statement and balance sheet.

3) Understand Taxes - Minimize, but don't avoid paying your read this blog.

4) Know how to properly register your business at the local government office closest to your location.

5) Have fun doing customer service.

6) Get comfortable with multitasking to the extreme.

7) Learn to attract the best coaches and mentors who will provide you with wisdom on how to run your business.

8) Learn how to market and promote your business in the areas where your target customers (or customers) lurk.

9) Learn the many ways to raise funds to keep your business going, especially when sales are so low, and you feel like you're about to hit your wits' end, and ask yourself why you got into business.

10) Learn along the way about how to recruit and keep the best talent you can attract, given your limited resources.

There you go ... go now and start that business. More opportunities than one, it will open doors for you that lead to your eventual long-term success in life.


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Joined: May 8th, 2020
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