When thinking about starting a business, should you consider whether your specific skills are sufficient to see you through or, should you concentrate on being a businessman first?

Many people are put off running a business because they believe doing so is more difficult than working the skill they have acquired over years of diligent training and hard won experience in their chosen field. This gives them the feeling that despite being an expert, that they lack the ability to run a business on their own. As a result they often shy from making the move form employment to self-employed for fear of failure.

However, this really should not be the barrier to being self employed or building a company as there is so much to be gained by out-sourcing the skills you lack. There are many people these days who will work a few hours a week up to as many days a month as you need them to and in all areas of work and business from telephones answering to company secretaries. So, firstly have the desire to achieve your ambition and then aim really high with the expectation of falling somewhere short but, not without putting your 100% into it all along the way and you will be amazed at what you can achieve.

Trade off your reputation
Quite often being VERY good at what you can do can circumvent many of the barriers to starting a business. This is purely because your skills put you in demand and if you are marketing yourself within a circle of your peers you may be able to lean heavily on your existing reputation and this may well have many profitable spin-off's.

This then, can provide either a good steady income, or if you manage it right the foundation of a well rounded business that can grow with prudent and strong self management, which consists mainly of ensuring you get paid by your customers on time, every time. The amount of good 'going-concerns' that have failed because of bad debts is inestimable, but very high so, don't be one of them and agree terms before carrying out the work and stick to them all the way through.

Growing your Business
If your business grows beyond your expectations then it is imperative that you learn new skills to cope to keep you in the driving seat and if you employ people to do those jobs then delegate them the tasks you either don't do well, or have no time for, then pick the employee well, especially as its the first person you take on.. They can often become your right arm and help manage the further expansion of your business by protecting your interests while your back is turned on other jobs.

The employment of people who match your skills and work ethic is imperative so unless you have discussed things in detail and are prepared to seperate work from social and home life, don't employ family. When it works it works brilliantly, when it doesn't your whole world can cave in.

There is also a lot to be said for having a second income coming in not when times are good but a life-saver when a quiet or rough patch pounces out of the blue (they are never expected, or planned) and the objectivity can help when you need to discuss ideas and problems so don't be in a hurry to have two people blinded by the same issues.

Don't forget the hidden Partner
We all have a hidden partner and when you run a successful business you will feel them in everything you do, more so when you hit the VAT threshold currently in the £sixties so at this point it might be a good idea to find a good Accountant if you have not already done so.

Whilst they will often take their fee out of the money they save you paying in tax it is also a good idea to agree their fees at the beginning of the year. Expect around £300 for a turnover under £100,000 and if they are intending to charge you substantially more, then find someone else.

So, hopefully you have read this and realised that having the skill to do stuff dbut not run a business is not the end of the world but, the beginning of a bright shiny new one,. When you see that your business can grow quickly and profiably from doing what you do best you will be quick to realise that maintaining the momentum is the essential consideration and passing the stuff that slows you down is the surefire way of keeping that flow going.

Whatever and however you decide to choose, good luck and take good care of yourself - business should be fun if it isn't it is not worth it..

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