Published 3rd December 2018 by Anonymous
Do I have what it takes?
Running your own business can mean long, unpredictable days, with little respite until you start to make a profit. Reaching that milestone can take years.
You’ll need to be:
Passionate: If not, you’ll find it hard to keep going when you hit a hurdle.
Prepared to make sacrifices: You’ll have less money to spend and may have to give up hobbies and social activities, at least while the business is getting up and running. Make sure your family is prepared for changes, too.
Published 3rd December 2018 by www.momentumfinancial.co.nz
In 2006 ACC research showed that, of all the businesses that ceased trading, 67% did so because of illness or injury to a key person in the business. What that says is too many businesses are not applying a “risk management plan” across all aspects of their business.
Putting an effective plan in place requires a relatively small commitment by owners in time but can be instrumental in ensuring the continuity of a business following the temporary or permanent loss of a key person or owner.