So you’ve decided to ditch the 9-5 and start the next big thing? Look out for these costly mistakes.
Here are 3 things we’ve seen business owners often getting wrong.
Not having a properly thought out/managed business plan.
With no plan, starting a business becomes a walk in the dark. You might know where you want to be, but without well planned steps to help you get there, what’s the use? A famous saying from mountain climbers is “Focus on your boots, and taking each step, not the summit”, and I think this especially rings true with entrepreneurs. PLAN your goals, plan your steps and plan your business and the direction you want it to head in. Take small steps and focus on continuous growth.
Being poorly organised and ill-prepared.
This is an important point, and it goes hand-in-hand with A. Make sure you’re as prepared and organised as you can be before you launch your new business. We as business owners can never be 100% prepared for everything we might encounter on our journey, but we can make sure we’ve got the fundamentals laid down before we begin. Now obviously these differ for each industry, but it’s the small things: What am I going to post on social media and when? How am I going to go about paying tax and GST? What’s the best way for me to manage invoices and keep track of tasks?
Ask yourself before you dive in, and get organised!
Trying to take every task on your shoulders.
In an effort to keep expenses at a minimum, we often are guilty of lumping every single business related task into one big burden, and we let this burden overwhelm us. Becoming stressed with your workload and having poor day-to-day management because we’re stressed effects us more than you may realise. Find people to help you, whether it’s an accountant, a second employee, a house-cleaner, you name it, take the weight off your shoulders and you will soon realise how much more productive you can be and make the most of your time. Productivity is key, but that’s a blog for another day.
All 3 points here tie in with eachother; PLAN, GET ORGANISED, GET HELP, do your very best to organise these before you start or right at the beginning of your business, they're all equally important, so take note!
For help managing your business tasks or for more info, shoot us an email through our website, we love talking business.