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STARTING A BUSINESS -MAGIC 6 PROGRAM If you are the right person to start a business, have the business plan and the stamina to deliver it, then we are the accountants to support you to make you business a success. With 20+ years of profitability analysis, strategic reviews and business experience we can do more than just your accounts. Planning a business start-up can be a long and challenging process and everyone will approach it differently some will love the planning and others will not. Here are some key points to think of when starting a business. READY FOR STARTING A BUSINESS AND TO BE A BUSINESS OWNER? Being an entrepreneur is something that needs to fit with your character, personality and what stage you are in in your own personal development. The success of a business depends on many of the "soft" factors not just product, price and packaging. Understanding what comes natural and what is less natural based on your personality can help you bring in other people to compensate or use consultants of other people. If you want to find out what your strong points so that you can adjust your plans you can use something like entrepreneur scan. You can find an example of the results on their web-site. CREATING A SUCCESSFUL PLAN Many people focus on presentation rather then content. If you are after what should go into a business plan you will find many sources online that give you free template to create yours. Even Microsoft provide a decent template if you have MS Word 2007. Any business is about making profit and profit is a must to keep a business going, healthy and survive any downturns. No surprise the financials of any plan needs to stack-up. Having reviewed many business plans it is surprising how few are properly supported by thorough market or business research. The main point is that all your business activities should be supported by creditable data and your milestones can be measured to make sure you keep on track. A good financial plan will allow you see the business through the financial figures. Feel free to contact GoldOne® to review or help create your business plan. DELIVERING THE PLAN If you have worked out your business plan correctly it will include everything to measure your success criteria, your financial and operational budgets and a plan of milestones. One of the next steps will be to set-up your financial systems and controls. This is a specialist area in which much fewer people and accountants have real and up to date relevant business experience. With relevant we do not always means having experience in the same sector, because controls are based on the opportunities and threats ("risks") which are unique to each business. An expert in this area will have both theoretical experience of all sectors and a wide ranging experience of real experience across many sectors. They will be able to build a unique set of financial and business control systems from a set of building blocks. GoldOne® has tremendous experience in helping businesses create a competitive advantage by better controlling their business. |
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