Business Planning

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Old 03-10-2010
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kezcol kezcol is offline
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Company name: Kezcol Solutions
 
Join Date: Mar 2010
Location: England, UK
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Default Learning form other people’s mistakes
Hi everyone

As you may or may not know I am very close to starting my own VA business.

What I am aiming to discover in this post is what first steps I should take, as well as things I should avoid doing as I start my fledgling business. A kind of one-stop-place to find does and don'ts when taking your first shaky steps as a VA and a business owner.

I am looking for tips and suggestions about things you wish you had known when you first started your own business.

For instance, how important did you find preparing a business plan? I am not looking for funding from the banks but I figure working on a business plan will help me focus on exactly what I am going to be doing.

Also at what point should I be taking on the services of an accountant or financial advisor? I have little or know knowledge of the financial requirements of running my own business from home. I am wondering whether having an accountant from day one will allow me to save more money than they would cost. I know things can get pretty complex (and scary) when dealing with the tax man so I guess a professional on the payroll would be a sound investment.

I am in the UK so replies from UK VAs would be greatly appreciated but info from anyone kind enough to offer advice, suggestions and tips would be more than welcome.

I am so excited at the prospect of doing some work I could really excel at as well as being my own boss working from home I want to give my fledgling business every possible chance of succeeding. So I would love to learn from the mistakes of others as well as making my own.

Thanks guys.
Colin
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