The Olympic Games of Business
In business, as with competitive sports, preparation is key. Just as top athletes would never go into a competition without first doing as much groundwork as possible, those looking to set up a new business should have the same mind-set if they want their business to succeed. In fact, many of the techniques used by the world’s leading athletes can also be applied to the business world:
- Know your opponents – when setting up a new business, it is essential to research your target market and competitors, in order to put together your plan to succeed.
- Undergo training – whether this be for general business skills or industry-specific skills, owners of new businesses should ensure they have prepared themselves in all relevant areas prior to set-up.
- Draw on previous experience – past jobs may be useful in determining the best course of action for setting up your own business – such as identifying your areas of expertise, strengths and weaknesses.
- Utilise specialists – just as athletes use personal trainers, nutritionists, etc. to help them to optimise their performance, it is vital for business owners to recognise those areas in which they may require additional help and to seek it. The support of specialists is vital when starting up in business. Selecting the accountant that is right for you is key to guide you through the complex field of tax and business. At Green and co we pride ourselves on helping our clients’ business’s succeed.
Just as with the Olympic Games, whilst it is an achievement to participate in the world of business, there is always a sense of competition, and the desire to perform well.
Green and co – the power behind your business.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.
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