Business Sense: Feature 8/6/2017
Building a successful business can be a very challenging thing to do! There is a reason so many new ventures fail, so being able to build a successful business means harnessing certain skills.
@sheeshkababage - Accountants For Your Business ARE Worth It
As smart as you think you are, your skill set is most likely very focused or directed. You may be a genius inventor, but what do you know about marketing or finance? Make use of people that have the professional skills you lack...
Some things will count towards a business expense, like uniforms, tools and even white goods for your work premises. There is a lot that will be counted as a business expense that you would never think about.
Unless you want to devote many, many hours to finding out what you can and can't claim for, as well as learning how to fill out these forms then I suggest you get an accountant.
There are different laws governing taxes so being informed does not always mean you think about everything.
I am having a hard time deciding what kind of business should I start. I do not have a specific field that I am good at, tho I would say I am good at communicating with people and collaborating. Any advise on how to decide what kind of business should I start? Also, if I don't have the money, should I borrow it from the bank or just try to save up?
One thing I cannot do is tell you what kind of business to start. The best thing you can do is to first survey your potential market and then try piece yourself into the puzzle. Make sure it is worth it...
Avoid a bank loan as far as you can! If you have no other choice, never make a full loan. Being able to control at least half of your capital is a way of protecting your business...
If you really have no idea what kind of business to start but you do have capital, perhaps buying into a business is not a bad idea...
Thank you for the advice. The reason I am investing in cryto is mainly for starting my own business. And I do agree with you that having control of at least half of my capital is important. Will definitely consider buying a business, have not really thought about that before.
It's not just about buying a business. Consider your passion. buying a business you have no idea of or interest in may end up being counter productive!
How can you help folk. How can you effect as many lives as possible. It is about providing value to other people.
There's a very successful marketer by the name of Rich Schefren that suggests evaluating work on the basis of "Am I going to spend days or weeks learning a skill that I'm only going to use for a couple of hours?"
Sometimes it's a much better to idea to outsource.
That is the best way to possibly think about it!
In many cases, it should probably read, "...that I'm only going to use poorly for a couple of hours."
Not necessarily. I believe that with actual dedication and disciplined learning, it will not be poorly at all. But the problem is then compounded as that level of learning requires not only time but sometimes stress and conflict as well.
But I only have 28 hours in a day. ;-)
I know! Isn't it terrible? (I realise the sarcasm)
The pursuit of knowledge, and in my case obsession, requires more time than we have and has led to many sleepless nights...
Yes, there is an infinite supply of interesting things to study and learn about. And all just a few clicks away.
I can handle the occasional sleepless night.
My wife.......not so much. ;-)
Audio books are good.
Your business tutorials are easily become hotcake on steemit!
a coincise piece..interesting
Yes, knowing when to delegate and outsource certain tasks is one of the key skills needed for an entrepreneur or for someone in management. Following you now.