Artifacts: Be prepared
- Make sure the business is something you feel passionate about and you enjoy. You have far more chance of being successful if you are personally invested in it.
- Don’t be afraid to ask for help and advice from those more knowledgeable than yourself.
- Only expand if it absolutely makes sense to do so – don’t do it just because you feel it is an expected step.
- Be prepared for tough economic times. Always have money in the bank to cover unexpected costs.
- When running a retail business, try to turn over your stock as often as possible. If it is moving slowly, find out why.