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Start a business the right way

Start a business the right way

Dissatisfied with your job or can’t find one that fits you? Then create your own! Starting a business isn’t easy, but the self-empowerment of taking the initiative is incalculable. Creating your own company is one of the most concrete ways of turning dreams into reality. Not only will it generate cash for your own pocket, but if the business grows it will provide livelihoods to others who work for you – that is until they start their own companies, for which of course you will have been the inspiration (keep telling your ego that).

But what are the actual building blocks of turning a dream into reality? Oh, little things like market research, funding, budgets and cash flow, marketing and advertising, branding and intellectual property, legislation, regulation and permissions, accounting, record keeping and taxes, insurance, staff, motivation and training, business plans, time management, networking, payment technology, software, health & safety and who buys the coffee. And that’s just for a hot dog stand.

Trying to take all this on in a piecemeal fashion with a cross-that-bridge mentality will probably lead to chaos. A business plan is a detailed blueprint for a machine, and it needs to be drawn up with care and attention before the machine is set in motion. You need ‘ready, aim, fire’ rather than ‘ready, fire, aim’!

Entrepreneurs are some of the most driven people out there. Even if the first business fails, they will start another, and another, and just keep going until they find a winning formula. So entrepreneurship is both a skillset and a mindset. The skillset is useless without the mindset, which is why IOA’s course Start Your Business begins with a self-assessment to check that you have the right kind of desire, focus and drive to get a business off the ground and make it fly. It’s a safety valve designed to avoid months or years of effort followed by the sudden realisation that you are actually better off as someone else’s minion. Entrepreneurs don’t think like that!

IOA’s course is a comprehensive checklist of the basics of setting up, running and growing a money-making machine, including how to plan a successful business launch, personal development, strategy, structure and a bunch of legal things you need to know about. That way when you launch the ship, you’ll have the charts and the navigation tools to get you out onto the high seas of business. Oh, and a lifeboat too, in the form of a disaster recovery plan and good insurance. Don’t forget that.

Bon voyage!