STARTING AND MANAGING YOUR OWN BUSINESS

Starting and managing a business of your own, and the freedom and life style that it entails, is a long held ideal for many people, especially as increasing numbers of people choose to opt out of corporate life early. With the new millennium it seems more people than ever are looking very closely at starting a business of their own. In our experience we find that the reasons are many. A great number of people are experiencing retrenchment at a far earlier age than they ever imagined. With bleak prospects in finding another job they look to start their own business to gain a new independence. Many other people are simply rebelling at what they consider to be a strict corporate culture and structure, as well as the business politics and back-stabbing. which leaves them unfulfilled and in many instances stressed. Other people commence a business of their own to develop products and services which they feel constricted in furthering in their current employment. Another group of people are ‘buying’ jobs for themselves and their families. However the reality can be vastly different. The increasing corporatisation of business (what happened to all the suburban high street hardware stores and butcher shops, to name just two) makes it even more difficult for small business operators to compete. How can small businesses compete with stores that offer interest free terms extended over long periods for example? As we progress into the new millennium petrol prices and interest rates are major factors facing all business operators, particularly those in a small business. Of course it is essential for small business operators to understand and overcome these problems and countless others in order to succeed. This book is targeted at these people concerned with starting and managing a business, and will also be of assistance to anybody who is already running a business of any kind. In the eight chapters of this book we cover a great many issues and wide ranging tips and advice on how to win and maintain market share. Your new business should concentrate on establishing a point-of-difference to other similar businesses and position your business to give it that essential point-of-difference. Starting a successful business of your own is very exciting and stimulating. At the same time it can be fraught with untold perils and dangers. The results of success can be great, even immense, though the risk of failure is always very close at hand. A key factor in any new business is careful and detailed planning - where do we start and where do we want to be in five, ten or twenty years time. And your business must make a profit! Always plan to build a business which can be on-sold at a profit in the future. We find that many people starting a new business have limited business skills. This book sets out to address a great many issues involved in starting and running a successful business, from planning and budgeting, to marketing the business,