LISTEN NOW: EPISODE 6
Today I answer a listener question from Sam around the biggest challenges new business owners face.
If you would like to have your question answered on the podcast you can do that here.
Having worked with numerous small businesses over the years I have identified 5 key areas all new business owners should focus on before opening their doors and well into the first 12 months of operation.
What is covered in this episode:
- The 5 most common challenges and mistakes new business owners can face
- How the lack of proper planning can derail any new venture before it even begins
- Why it is important to start planning before you spend any money and how our Free Business Plan On a Page can help with that
- Importance in clearly defining the roles and responsibilities within your team and how a solo operator can cover all of these with good time management
- Why understanding your financial numbers and have regular access to them is so critical
- The importance of having a cashflow budget before you open the doors
- The struggle of having inadequate start up capital.
Links mentioned in the show:
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