TOP TIPS ON STARTING YOUR OWN BUSINESS PART II

4. Depend on yourself

Many businesses start in cooperation with partners, some do go well and at the end turn out to be very successful, but my own experience show that the less people that are involved in the development of your idea the better. Don’t get me wrong, you will still need advice and you can get really good ideas from them, but the final decision on how the business should develop in the future should be yours alone. I have seen many friendships ending on disagreement over a business.

Second thing on this topic is to minimize the dependability on external factors, like companies that give you franchise to sell or use their brand or companies that deliver products that you sell. The more things you can do yourself the better and if you do depend on external companies to develop your business, my advice is to have a solid contract with your partners and always have a lawyer check it for you.

5. Use expert help

If you have doubts about something it is always a good idea to get a consultation from an expert in the field. You are not obliged to know and do everything, some money spent on legal, accountant and ext. consultation at the start of the development of your company can save you money and a lot of nerves in the long run, so don’t be stingy.

6. Do not hesitate and do not despair

There will never be a perfect moment to start your own business and things will rarely go smooth. It takes months and years to develop a successful company. You need to be consistent, positive and have fate in your abilities and idea. There will always be setbacks, but you can look at them as lessons to be learned in the process, that will make you stronger and help you on your way to success.

Starting a business is not an easy thing and these tips, while useful, are not exhaustive. As those are some of the most important ones, from my point of view, hope they will help you on your way to success.

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