3. How are your finances?
Every business has 2 fundamental realities; there is always a time lag between concept and delivery, and there is always a cost to be borne between delivery and payment received. A brilliant business that runs out of cash flow is not a brilliant business; build that fact into your business plan before you commit.
4. What skills and experiences support is available? Sales, Marketing, Accounting, Supply & Logistics, IT, Creative and PR are needed for any new business. Before committing to leaving your corporate life you should appreciate how many roles you might have to fulfill, or be prepared to pay others for, if you haven’t, or can’t, develop them yourself.
5. How will you know to action your backup plan? Some things just don’t work out. Most will wish you success initially, but will the honeymoon period last? There are arguments that if you are not committed then you might not invest 100% of yourself, but the sensible choice is to have a backup plan.
“Success does not come to those that wait, but to those that take the right opportunity and work” Good luck!
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December 2018
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