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Here are some steps you can take to confront your fears as a start-up and move your business ahead.
1. Afraid of letting others down?
Sinking your own time and money into your dream enterprise is one thing – but what about those who have invested their faith – and funds – in your success?
Hint: It is natural to want to succeed for others. Remember that you are in the captain’s seat – don’t let the need to please others steer you off course.
2. Do you have the right stuff?
Don’t cut it like Donald Trump? Take comfort. Analysts insist that personality traits do not predict an entrepreneur’s success. External factors such as the economy and changes within an industry are the real determinants.
Hint: Stay well informed about your industry. Be receptive to the times – and the changes that come with them.
3. Will clients take you seriously?
Let people know that you mean business. Everything you use to represent yourself– from business cards to phone and email manners –should showcase you as a professional.
Hint: Read up on business etiquette. Invest in your image – from communication tools and an appropriate appearance, to the way your invoices are formatted. Easy customization tools in QuickBooks Pro lend you a professional flair. Add your logo to receipts and estimates – you’re set to impress.
4. Techno-phobic?
New technologies can be very easy to use. Investing a little time and money in a software solution can automate tiresome processes, while improving your productivity and accuracy. That saves time and money.
Hint: Ask colleagues and industry associates to share which systems have worked for them. Considering Facebook or Twitter ? Your children, friends, or younger employees can make valuable recommendations. Leave your bookkeeping to a financial management system that performs like your own accountant. QuickBooks Pro is quick, easy and offers guidance along the way.
5. Do I Need a Partnership?
Two heads can be better than one. Sometimes solo is the way to go. Either way, get left brain and right brain working together. That means balancing back-end challenges like finances with the front end’s need for creativity and customer relations.
Hint: If you don’t have a business partner, or if you do, delegate tasks so you don’t confuse your many roles. To help you stay focused, QuickBooks tools keep track of your finances all in one place.
6. What about Laws and Taxes?
Make sure you understand your legal and tax responsibilities well in advance of starting your business. It is difficult and expensive to undo mistakes after they are made.
Hint: Find out if your business needs to be registered. Will you have to deal with the Workers Compensation Act? Or with payroll taxes? And then there’s sales tax – GST, PST, or HST.
QuickBooks stays up-to-date and compliant with new legislation. Meanwhile, each expense you enter into QuickBooks is automatically plugged into its corresponding line on your tax return. When it’s tax time again, your numbers are a snap to organize. If you need to manage HST, the Tax Centre in QuickBooks Pro and Premier make it easy to remit taxes and keep you compliant.
7. Where Can You Go for Support?
Family and friends can be great sounding boards for new ideas and provide emotional support. But experienced guidance is a best bet for first-time entrepreneurs.
Hint: Consider finding a mentor within your industry. Join an online community geared to your sector. QuickBooks Support Centre and the QuickBooks Community offer users free expert support. Or you can reach out to other entrepreneurs from directly within your QuickBooks copy.
Whether you’re a financial consultant or a home renovator, Intuit has the resources to ease your start-up worries and help your business grow.
Get started on the right foot with a FREE trial of QuickBooks accounting software...
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