A business starts with
an idea. Weaving a business around that idea is the core focus of business planning. You cannot make money unless you plan and execute the business in the
right way. Hundreds of small firms that die before they ever really get going
are because not enough planning went into the crystallization of the idea.
There is a large number of resources available for such planning. You may also
choose to engage a business consultant to help in the planning and execution
plan.
Once you start your
business and where most of the companies fail, is the area of record-keeping.
When you start a new business, the entrepreneurs become busy in marketing,
sales, innovation, product development, IT systems, and what else. An area that
is neglected grossly is record keeping. Proper record-keeping and internal
controls make solid foundations for business. But I want to tell you that it’s
not an easy or exciting task, but it needs to be done and to be done well.
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