As an established Finance Director, Governance Practitioner and with experience of Coaching & Mentoring teams, my journey from being employed to setting up my consultancy company was not without pitfalls, sleepless nights, huge doubts and sometimes abject fear about whether I could set up and run a profitable business with the business skills I had!
The transition from being employed with a monthly salary + benefits, to running a professional consultancy business & sourcing my own clients was a tough journey. Starting my business from nothing was a completely different scenario to previously working as a professional in a business, with existing structure, policies, procedures, resources and clients etc.
My learnings: both successes & failures have been an emotional journey, which is why I wanted to share my experiences & help support other founders, owners & CEO’s along their journey. Often, a little support, a critical friend & some sharing of learned experiences go a long way to ease the fear and lack of knowledgeable resources any new business faces.
You don’t know what you don’t know, right? You’re an expert in your own field but often that doesn’t include having all the business acumen required, whether financial, governance or people skills.
So, where to start?
Based on our profound belief that every individual has unlocked potential & the ability to learn, we have some short business guides that might be useful to you. Please read below for some of our thoughts before you start any new enterprise & click on the button below to sign up for more guides to get your business up & running. These guides are generally geared towards early-stage ventures but we invite you to contact us at any stage. We learnt the hard way, but you don't have to.
10 Questions to ask yourself BEFORE embarking on setting up a new business venture:
What is the business purpose & value to others?
What can we provide that’s unique in the market?
What problems are we solving for our customers?
How do we solve our customers’ problems?
How are we going to commoditise our service or product?
What is the business plan & budget & can we prove it works & is profitable?
Have we properly tested out the business plan with anyone else, i.e., a business partner, friend, colleague, etc
Are we prepared for a) setting up the business b) selling the product or service c) the marketing
Do we have the right advisors & support?
What further information do we need to consider?