Be it a family member, friend or someone you meet at a BBQ, we all know someone with a great business idea who just needs a little bit of support and encouragement to become their own boss. They just don’t know where to start or don’t have the courage to take that next step.
If you're starting a small business, I'll give you a tip. Always make sure your cash flow is healthy. Ensure you're able to put enough to one side to build a ‘bank’ for things which may go wrong. You'll find in any business, there's always the unforeseeable stuff that you never, ever think will happen.
Catching customers, holding customers is now more difficult than ever. Anything and everything can be copied, or duplicated. Beyond the issue of more competition, it makes it more difficult to develop ‘ownership’ of a customer. The challenge is to give customers extra value.