Become Your Own BOSS 

To set up your own  business you need a competitive advantage – you need a product or a service that is different, cheaper or better quality than your competitors.

What’s in it for me? What’s in it for the client – that is the question?

         The first thing to do is to identify a need and then aim to fulfil it.

         It’s easy to start a business but to keep it growing takes much work, skills and persistence.

         If you don’t have all the skills,  seek advice.

A handful of on tips on ways to set up your own business and become your own boss

* Can you turn your hobby or interests into a business?

        Make sure your new enterprise is a job you enjoy.

         (In the book “Secrets for Success” you will find over 30 suggestions of hobbies that could be turned into businesses.)

* Aim to fulfil a need

        Research the market so you know what is available and what could be improved and assess any competition.

         To succeed you must fulfil a need.

         After retirement I set up a small business writing and publishing books for the Asian and Pacific markets. I enjoyed the challenge. Eighty-six editions have been published by 31 publishers  in 18 countries and in 11 languages.

*  Realise you will need help

        You cannot do everything. You won’t have all the skills needed to set up a business. Before you start, consider working in  a similar type of business to gain experience and to make contacts.

         At the start of my business I employed a Australian designer, a Singaporean printer and a New Zealand distributor .

         Study the art of delegation and learn to delegate tasks to people with good quality skills.

         Often you don’t need new equipment to start a business,  so why not hire or buy used equipment. You could get products or units  made by specialists and get someone to handle your distribution and sales.   

* Quality and pricing are critical

        If you are producing a product or giving a service you must set high professional standards to compete with similar businesses.

         Employ a good accountant and financial advisers. Pricing can be critical! 

         Many small businesses can enter the lower end of the market because many large companies have higher costs for buildings, equipment, administrative staff,  and vehicle costs.

*  Prepare a business plan

        The main task when setting up a new business is to write a business plan.

         Your business plan is the most important thing to consider.  It doesn’t predict the future but it does help you cope with future contingencies. This will help you clarify your ideas and analyse the proposed project.

         Try to identify future opportunities, possible threats and the consequences of those threats.

         Your business plan is essential if you need to borrow money or buy resources.

         Keep it handy and monitor your progress regularly.

         Create a good image by giving an excellent service.

         Always be professional in your approach; maintain high standards  and at all times present yourself looking well groomed.

–Geoffrey Moss(mossassociates.co.nz)

“Minutes spent planning can save hours when it comes to execution.”

Source:   “Secrets for Success. This book could change your life”. Published by Moss Associates Ltd and Cengage Learning Asia. Also available as an e-book from Amazon.com.

            For those in need download our FREE book “NO JOB! WHAT NOW? from mossassociates.co.nz