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24 May 2025

Three key things to do before starting a business

For articles on the legal steps you need to take to start a business, Google 'starting a business'. There is loads of good stuff out there. We give this advice too and know it like the back of our hands. But what you won't see is the advice below.

 

Do this before starting a business:

 

Get lots of rest because it is a warzone for three months at least. You will be peppered with admin, costs, naysayers, supporters, revenue, GST, PAYE, things you forgot to do, things you did twice (wrong) and you will wake up at 3am most mornings reaching for a note pad… but my goodness you will love it all!

Make sure your family is 100% on board. The joy you will get from talking about your successes and the support you will get when you drop a ball or something doesn’t quite go to plan will be enhanced if everyone is on the journey. Take your family with you and, as much as you may not want to share all that you faced in a week that had you bloodied and bruised, tell them everything and answer their questions; even the ones from your youngest that seem benign but allude to their love and care for you and what you are doing.

Gather your resources. Whatever you think you need to start a business (moneywise) will not be enough. Forecast all you like, but you need to be prepared to make decisions on the fly when it comes to spending in that first few months. Get the cash in the tin and treat it like gold dust.

 

Then get on with it with your lawyer, accountant and bank by your side.