Things you don’t want to know About Running a Business

Does your Business need to register for GST?
July 5, 2017
July 5, 2017


Running a business is not an easy task. The experience of running a business is full of highs and lows and includes variety of experiences, challenges and requires lots of creativity, motivation and enthusiasm. In the enthusiasm and passion, a business owner encounters realities they might rather not. However, some experiences cannot be avoided while one must prepare for others.

  • Delegation and trust enhance healthy company growth: With the growth in company business one must learn the art of delegation and imbue company culture with shared trust and this can be done by hiring the best candidates and defining their roles and trusting each staff to perform their role.
  • Plan your things: You must work for today and plan for everything else. Regardless of the things whether you business operation are running smooth or not, you should spent some time on your contingency plan. Spend some time with your administrative staff and find solution to what if scenarios and documenting them for future reference.
  • Be careful with partnership: You need to be extra careful while choosing your partners as choosing a right partners can bring a lot of opportunities, resources and capital for your business and poor partnership can leads to a great difficulty.
  • Learn from the failure: Every business encounter less favourable results at some point. When you do, build on the experience. Critically analyse everything that happened, look for solutions to the failures which led to failures and implement them in future
  • Record Keeping: A good record save time and reduces stress if a discrepancy in a transaction arises, good records allow its easy correction
  • Client acquisition continues even after a client is signed: You not only need to continue to court your clients once they sign, you must maintain an ongoing funnel of potential clients. Spare some time for the client maintenance and client recruitment.

Contact HS Bookkeeping Services at 1300 664 796 for all your bookkeeping!