BE THE BOSS IN YOUR OWN BUSINESS

Going out on your own and starting a business can be a path to wealth but there’s no guarantee it will be a success. Here are seven tips to improve your odds: 1. Do something you love and prepare to work hard. 2. Establish a business plan – and follow it. 3. Test your strategy by pitching it to your target audience and industry experts. 4. Get some help. Read as much as you can and maybe visit your local business enterprise centre. 5. Do what you can to keep your costs down. 6. Invest in smart accounting technology and use it. 7. Use simple technologies such as Google Alerts, project management platforms, budgeting apps or social media scheduling to make day-today tasks more efficient. 8. Take care of your employees and create a positive culture. Embrace, motivate and train staff to improve their performance.