How to start a business

1. Know your “Why” and “Who”
Starting with ‘why you are doing it?’ is one of the most essential things to consider apart from the strategies and plans. It helps you to recognise your initial motivation and final mission. Also, don’t forget to consider your targeted market and your competitors.

2. Start with a business plan
A thought-out and comprehensive business plan is a solid foundation for staying focused on your goals and objectives. You can refer to our previous post about Business Model Canvas for some insights.

3. Build a strong network
Building strong support for your business is one of the determining factors for your business health. Don’t be afraid or reluctant to build a network with outside professionals who can help you.

4. Manage your cashflow
Cash flow is crucial to your business growth. Good cash flow management helps you understand your financial picture to forecast and prepare for challenges and changes and make proper plans.

Source: CHRON

𝗢𝗽𝘂𝗹𝗲𝗻𝗰𝗲 𝗖𝗼𝗹𝗹𝗲𝗴𝗲

CRICOS 03878K | RTO 45644

————————

Phone: (+61) 261 018 650

Email: enquiry.act@opc.edu.au

Website: https://opc.edu.au

Canberra campus: Mezzanine Level, 15 Moore Street, Canberra ACT 2601

Melbourne campus: Suite 802, Level 8, 474 Flinders St, Melbourne VIC 3000

No Comments

Post A Comment