Running a successful small business
November 8, 2017
It’s the ambition of many to run their own business, either they’ve always dreamt of it or opportunities have arisen due to changes in circumstances.
However, setting up in business isn’t necessarily as easy as you may think and there are many things that must be considered beforehand.
In this video, Corporate Services Director, Judith Dugdale, is going to look at some of the non-financial aspects that you need to take into consideration if you’re thinking of setting up your own business.
Judith looks at some of the desirable skills and traits entrepreneurs need to possess, as without them you may find running a successful small business difficult.
She then goes onto discuss the essential elements that make up a good business plan and the importance of having one in place. Again, this is something that is often overlooked but is essential in ensuring your start up business is a success.
In the final part of the video, Judith then goes on to look at how an individual’s personal circumstances can impact whether you’re able to run a successful small business, for example: Do you have dependents? Will you be earning a sufficient income that’s enough to fill any requirements you may have? Do you have full support from your friends and family?
Part two of running a successful small business will look cover the financial aspects of running your own business and the importance of setting up correctly and choosing the right structure.