Starting Your Own Small Business? My No. 1 Tip

okay in this video I want to take a look
at something that comes up very regularly with people starting their own
business it’s a beautiful bank holiday weekend
here until there’s an unbelievable on believe you one day I don’t normally
wear the the shades was today and doing it because I was sprinting otherwise but
in this video I wanna look at something that people starting their own business
always in my view yeah hooked up on or get get tripped up on or obsessed about
without honey we need and that is the concerned of when they’re starting a
business so that you started a business and they’re in the very very early
stages but concerned about whether they should have a limited company or
partnership but concerned about perhaps registering a business name and feeling
of the correct forms the concerned about things perhaps like trademark or
copyright the concern that will go on to the bank has been able to open business
account first as a personal account but my advice to all of these people who are
starting their business for the first time or are in the very very early
stages of the business my advice is the same to all of them and
that is their focus their priority if you’ll really be on getting hunters
getting clients getting customers if you put your energies and your focusing
getting customers or clients getting sales then you’re gonna have a positive
cash flow and other things then will be easier to deal with and will be more fun
quite frankly you’ll also have a better idea of what you want to do in terms of
partnership or they were a company or sole trader or perhaps registering a
business name or whatever it is but people in my view tend to get the cart
before the horse I think that really good business
people entrepreneurs start off with essentially a good idea or a good
product for good service and they generate sales and cash is king
particularly when you’re starting off a business cash flow is absolutely vital
so my number one tip for anybody starting a business is to get clients or
get customers first and worry about the legalities the structure registering
with the revenue insert all of that stuff as you go along or a little bit
later on but don’t put the cart before the horse and end up spending a lot of
money that you should be using to generate sales instead you’re using that
money on needless things that you might never use or need like to live in a
company or a business name or whatever I’ve started a lot of businesses since
1986 the 6th of December 1986 was my first business and that’s a while ago
now and I’ve been involved in various businesses down through the years
including retailing convenience stores petrol stations property development
building online business I’ve been in the license to trade and obviously and
solicitor now so they’ve had a huge amount of experience in all sorts of
businesses in developing and redeveloping properties in obtaining
plan information in organizing subcontractors on my building site when
I was building apartments I bought sites bought homes both premises I’ve stripped
licenses out of premises a lot of places premises rather and sold them on bikes
of legal analogy so here amount of experience in the whole area of starting
and running a business and it’s much easier and you’re far more motivation to
look after various things the housekeeping stuff once you see that
we’re making some strides if you’re getting a bit of momentum that you’re
getting to be more and inside underneath that we’re getting sales so the key
thing in my views were starting the small business no matter what you’re
selling whether you’re selling crochet patterns or whether you’re selling a
service for you know entertaining with perhaps children are parties or whatever
it is every business is gonna start small by
definition the longest journey begins with a single step
but you should concentrate and focus your records your efforts rather on
getting sales rather than on employment contracts or registering companies or
the best structure for your business and so on and so forth hope you found this
video useful this is actually there on a beautiful sunny by family weekend and if
you do you might give her the thumbs up down below and you may be interested in
sharing it with somebody who you might know who would be interested in this who
may be considering starting a business and you might say give it the thumbs up
down below and subscribe to my channel if you haven’t done so already thanks
for taking the time to watch this

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3 thoughts on “Starting Your Own Small Business? My No. 1 Tip

  1. Thanks for the video Terry, we recognised ourselves when watching!… and thanks for the consultation recently. Antoine and Nathalie

  2. Great advice as usual! Positive Cash-flow is number 1 concern! Also worth pointing out that it's a mistake to spend several days trying to figure something out when a 1 hour consultation with a professional will sort it out for you! New Business owners, don't be afraid to invest in some professional advice from time to time! It will save you in the long run!

  3. Great video Terry! What do you think about YouTubers and people making money online – would that be candidate for registering a Ltd. company?

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