Shoe Habit

1st December 2016

The business is 2 years old now, and began as a sole trader… it was the easiest and quickest way at the time…I had been asked to write a bid and the deadline was looming. So I concentrated on that first, and the business side afterwards.

It was pretty simple, I got some help from a great accountant and used a really simple excel sheet.  I found some accessible advice in a book “Starting your own business” by David Lester and just went for it. Remember, you can always change your structure at a later date.

My advice – keep records, and do “your books” each month. I have been really strict with myself about this – it’s important to know your business numbers – what you have in the bank, what you need to pay each month, and most importantly how much you need to earn. This is the beginnings of your business plan and financial forecast – it will keep you focused.

This is critical for me as I have so many plates that can be spinning at any one time, but you need to know your money. It doesn’t make you happy, but I do love a pair of new shoes…

 

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