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What They Don’t Tell You About Starting Your Own Business

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1. #1 Your business plan will not always work out
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You invest a lot of time and energy into drawing up the most detailed business plan possible – this will surely impress the investors, right? Wrong. Business plans can often put interested investors off if not written properly. They need to be to the point, concise, systematic, structured and above all, realistic in expectations. Don’t write that you expect to make $5million in your first year if $200,000 is more of a realistic figure. You should also note that sticking to the business plan will cause you problems too. The plan is more of a guideline than a rigid step by step on how to start your business.

Deviating from the structured safety of a full time job is daunting and a huge risk. You will get some raised eyebrows and sideways glances from those who doubt you, and you will get a pat on the back for ‘spreading your wings’ from those who support you, but rarely will you meet someone during the early stages who can give you valuable advice that will save you from making mistakes later on down the line.

So, if you are not lucky enough to meet an experienced entrepreneur when your first start out as one yourself, have a read of these helpful tips that all budding business mavericks need to know…

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