Tips to consider when starting a business

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If you want to become a business owner, you have three choices. First is to start your own business from scratch, the second is to buy an existing business and the third is to buy the rights to a franchise. Regardless of the option you choose, being a business owner is a journey and not a destination. Here are some things to consider on your journey.

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Tips to consider when starting a business

  1. 1. Tips to consider when starting a business By Andrew Rogerson
  2. 2. A life plan and business plan • A good starting point is a life plan to understand the impact on your lifestyle when you own a business. • Also create a business plan
  3. 3. Price, Quality and Time • As you build your focus, you need to consider Price, Quality and Time. • You can only focus on two – which two are you going to choose?
  4. 4. Networking and Power Partners • When you start out in business you can’t do it all. • Find complementary businesses and refer work to them. • You find these people through networking. • The people you want to build strong relationships with are Power Partners.
  5. 5. Grow your business • To grow your business you need customers. • To find the right customers you need to create a sales funnel. • A sales funnel is simply a device that allows you to work through each customer contact you make to ensure they are helped, in a timely manner and for a price that works for both parties.
  6. 6. Buying capital equipment • If you need capital equipment for your business, make sure its affordable. • Look for alternatives before making such a major purchase.
  7. 7. Manage your finances • Managing the finances of the business is critical to its success. • If this is not a task you enjoy or have the skills, hire someone to do it for you.
  8. 8. Continuous improvement • Becoming a business owner is not a destination, it’s a journey. • This means being continually educated.
  9. 9. Questions • If you have questions about becoming a business owner send me an email – andrew@andrew-rogerson.com. • Remember you have three options: 1. Start a business from scratch 2. Buy an existing business 3. Buy the rights to a local franchise.
  10. 10. Sample documents • If you would like some sample documents to help you, visit my website at www.Andrew- Rogerson.com/sample-documents where you can download documents for free. These include business plans, Profit and loss projections, cash flow projections, break even analysis, bank loan request and more.
  11. 11. Thank you Andrew Rogerson Ph: (916) 570-2674 Email: andrew@Andrew-Rogerson.com Web: http://www.Andrew-Rogerson.com

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