What are you spending money on?
You need to keep a record from the outstart, I started simply using Microsoft Excel but there is a large a growing number of accountancy packaged that wouldn’t break the bank and will help you to plan and grow your business from the start.
Many packages allow you to take photos of your receipt and store them electronically however I have found it best to keep your paper receipts just in case.
You are not alone
When you start out running your own business it can feel like you are on a journey on your own, but you are not people have sailed the path before and there is a lot of help and support out there to guide you towards achieving your ambition. For example, I found the federation of small business of great support, but there are chambers if commerce up and down the country who are keen to help and advice. Some councils even offer one-off advice drop in points for budding business owners. The help is out there you just need to find it.
Stick to the absolute essentials
It can be very tempting when you start a business to ‘splash the cash’ and invest in offices, bespoke stationery and evening expensive swivel chairs however starting any business can be challenging. It can be easy to underestimate how difficult things can be. By starting small and becoming an expert in what you do and how to run your business allows you to keep control and expand easily.
It is said that ‘learning is what keeps you young’, always try new things to learn from your mistakes and reflect upon them and use your new knowledge to benefit and develop your business. These are key cornerstones which have allowed me to develop my business. You will make mistakes, you will have setbacks but treat all these as lessons.