Tips for Surviving Business Problems

Advice for Survival
Here is some survival advice for Small Business Owners
  • Before you start, make sure you know exactly where you stand financially before you commit yourself. This will require work on budgets and planning.

  • When you're making plans for success always make plans of what to do if it fails. It was Franklin D. Roosevelt who said that “When you get to the end of your rope, tie a knot and hang on”.

  • In business watch your enemies (competitors) close and your “friends” (directors, managers etc) closer.

  • Before signing a lease for premises or assets always read the terms thoroughly and discuss with your lawyer before signing.

  • Generally buying into a good ready made business with your own cash is the safest way to start

  • When buying a business there is a tendency for the seller to overvalue his proposition so a cynical mind is the safest approach for you as a buyer.

  • If has been said that the chilliest draft is the overdraft because while many businessmen owe their success to the assistance received from ...

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