Blast Off!

Well I think you're ready to go! Well done! But before I shove you out of the nest here's a couple of words of wisdom to take with you.

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There is a very steep learning curve to owning and operating your own business. Be prepared to learn something new everyday and be prepared to be wrong!

Ask for advice and help whenever possible. Use your lawyer, your accountant, your bank, other business owners within your industry, our free forum.

Make sure you take some time out for fun when you can, even if it's taking the dog for a walk or playing with the kids for half an hour. Time will be very precious to you, so use the free time wisely. Your biggest supporters will be your family, don't neglect them.

Don't bit off more than you can chew. You may be very tempted to take on an extra customer or two, but if you aren't prepared for the increase in business then your existing customers will end up suffering for it. Growth should be controlled.

Never lose sight of where the money is going. Analyse those profit and loss reports (which you should be seeing regularly, monthly at the least). Controlling costs is one of the most important jobs you have.

Keep an eye on cash flow. To start with, analyse it and update your cashflow forecasts weekly. Talk them over with your accountant if it isn't making sense or doesn't look right. These forecasts are liquid, not immovable objects, be prepared to modify things.

Lastly, enjoy yourself! Remember this is your dream, it's not just another job.


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