Top Tips for Running Your Own Business: Setting Up
So, you have a business idea but you need help getting started?
There are a number of options available to you especially if you are in the very common situation of needing financial support to get your business idea off the ground. There are companies who specialise in lending money to new business ventures as well as options with your regular bank.
Before you go any further ask yourself 2 questions:
1. Why do you want to start a business?
2. What is it that you want to offer?
If you do not have the answer to these questions stop now!
Do not pass Go! You are not ready to start a business yet!
If you are motivated and believe that starting a business is the next step for you towards financial freedom and not having to work for someone else for a salary then read on! Before you go one step further you will need a business plan to present to a money lender (banker or broker).
Key elements to a successful business plan:
1. What will you offer?
2. Who is your target market?
3. How much will you charge?
4. What will you do to make this happen?
You manage to secure finance - now what?
- Don't over capitalize - start out small with minimal investment, you can build on your success later.
- Run your business in an area you are familiar and confident with so you don't have too much on the job learning to do!
- Market your business - you cannot grow if no-one knows you exist!
- Read, research and learn from the mistakes of others - many have trod this path before you.
Be Your Own Boss
It's a great idea to quit your job and start your own business, earning your own pay cheque but it won't be easy and there will be tough days where you consider giving it all up. Only you can ultimately make this venture work. You have to be motivated, know when to ask for help and be able to reach out for support and advice. When you are self-employed in your own business you have to 'be your own boss', you set the work hours, the goals and the deadlines. If you don't work for them, no-one else is going to make you.
If you are dedicated to your success and follow your dreams then there is no reason you won't start up a successful business. If you put in the effort in the set up stages and then seek advice along the way you stand a much better chance of survival than trying to go it alone and struggling when times get tough.
Are you motivated, able to adapt and confident? Are you resilient?
Yes, then you have the personality and basic skills to succeed in a small business environment.
For business finance brokers in Waikato you should contact GVK finance who can offer assistance with: small business loans, commercial finance and capital finance loans. GVK Finance are an asset finance company in Auckland who specialise in: commercial vehicle & truck financing, business equipment & machinery finance, business plant and engineering equipment finance (Auckland) and earth moving asset finance. Visit www.gvkfinance.co.nz for more information and contact details.
Contact our friendly team to make a booking!