Starting a Business

Starting a new business is a very exciting time – however, it is also very challenging. Luckily there is plenty of help at hand for those who are clever enough to look for it. Did I say clever? Yes, I did, because many entrepreneurs charge headlong into their pet projects without giving due consideration to […]

1. Introduction
In a world increasingly affected by globalisation, increased competitiveness and maturing products, the need for creativity and entrepreneurship has never been greater. Luckily, the attractions of becoming an entrepreneur have never been greater either, especially since a shift from a predominantly manufacturing- to a service-based economy has lowered the cost and barriers to […]

Starting a business is an incredibly exciting time for any entrepreneur; however it can also be stressful with so much to do in so little time. The start-up phase is also characterized by significant expenditures against a backdrop of uncertain income. However, there are a number of products and services that can help you […]

When I am asked to explain why business planning is so important, my first inclination is to quote Lewis Carroll. In Alice’s Adventures in Wonderland, Alice comes to a fork in the road and asks:
“Would you tell me, please, which way I ought to go from here?”
“That depends a good deal on where you […]

Developing your sales forecast isn’t as hard as most people think. Think of your sales forecast as an educated guess. Forecasting takes good working knowledge of your business, which is much more important than advanced degrees or complex mathematics. It is much more art than science.
Whether you have business training or not, don’t think you […]

The Dragons’ Den on BBC 2 pits entrepreneurs seeking funding for their businesses against a panel of celebrity investors. Aside from the entertainment, there are a number of valuable lessons that can be taken from the programme. Below are the Top Five Lessons to be learned from previous participants’ pitches.
1. Prepare a thorough business […]

How do you estimate specific costs for a new business? How do you predict expenses? Normally you need some experience. If you have no idea, then you might think again about starting this business. Maybe your team should add somebody who does have experience, and can make estimates. Here is why.
In the real world, […]

Is it possible to start a business without money or security? Anything is possible and most companies were started from someone’s ideas written down on paper and financed by those who saw merit in the plan.
Still, realism is important. This depends a lot on the specifics of the business. Some businesses are relatively easy […]

I’ve spent many years as an entrepreneur and working with entrepreneurs. I understand and sympathise with the urge to create something, to build your own and make it work. This is a fabulous thing when it happens. I’ve also seen the disaster of the business start-up that absorbs more money than it should, and optimistic […]

Businesses spend money before they ever open their doors. Start-up expenses are those expenses incurred before the business is running. Many people underestimate start-up costs and start their business in a haphazard, unplannned way. This can work…but is usually a harder way to do it. Customers are wary of brand new businesses with makeshift logistics.
Use […]