10 things i wished i knew when i started my business
TRANSCRIPT
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10 THINGS I WISHED I KNEW WHEN STARTING
MY FIRST BUSINESS
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1. PRESERVE YOUR CASH
$
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2. STOCK - START LOW, JIT OR ON CONSIGNMENT
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3. WORK FROM HOME Rent an office / facility only if & when you have to
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4. LOOK AT GETTING VIRTUAL ASSISTANCE
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5. KEEP GENERATING INCOME ON THE SIDE IF POSSIBLE
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6. LOOK FOR FREE ONLINE / LOW COST RESOURCES (bit like wedding shopping)
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7. GATHER REFERRALS FROM DAY 1
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8. SET UP CREDIT TERMS TO HELP FUND THE BUSINESS ie/ deposit up front, payment in advance, small discount for
paying on time or before due.
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9. BUILD A RELATIONSHIP WITH YOUR BANK MANAGER
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10. BUILD A RELATIONSHIP WITH YOUR ACCOUNTANT / FINANCIAL ADVISOR
Structure your entity at the beginning to ensure you are protected.
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