managing a start up business | Gary Weigh

Source of income – grow more than one!

Gary Weigh — Sat, 15 Oct 2011 00:02:45 +0000

It is crucial in managing start up business that once you have established your independent source of business income, you don’t take it for granted. It needs constant care and attention to maintain and grow it.

Regular income is the foundation of family wealth building. That is why positive cash flow is critically important. Negative cash flow means negative wealth because you have to dip into your saving or credit card to make ends meet.

So don’t stop at one! It helps to have more than one source of income. It also helps a lot to have at least one source of income that doesn’t rely totally on your personal exertion to earn.

In other words, strive towards establishing a source of “money while you sleep”. That way, you can take a holiday or afford time out of your business if you are sick or have an accident.

For more reading on managing start up business go to http://garyweigh.com/business-building-%e2%80%93-make-your-own-luck.html

Until next time

Gary

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Managing start up business – an independent source of income

Gary Weigh — Thu, 13 Oct 2011 02:40:31 +0000

Focus on customers!

The focus of managing start up business should be to develop an independent source of income. By doing so, it means that you have, or are in the process of removing yourself from the realm of ‘employee dependence’.

Instead of depending on one source of income in the form of your employer, you are diversifying your income earning opportunities across a growing customer base. The idea is that no one customer should be totally responsible for your income.

It is dangerous to put all your eggs into one basket. Being an employee, there is no such thing as job security. Although it may not appear to be so at first, there is much more job security by being a business owner and being in control of who contributes to your income.

If an employer withdraws his or her income you are basically out of a job. However, if a customer withdraws income in the form of choosing to shop elsewhere, you should still have plenty more customers left to contribute to your income. You can also add more at any time.

For more reading on managing start up business go to http://garyweigh.com/how-much-do-you-enjoy-work.html

Until next time

Gary

The post Managing start up business – an independent source of income first appeared on Gary Weigh.

How much do you enjoy work?

Gary Weigh — Mon, 23 May 2011 04:20:52 +0000

If you are thing about quitting your job and managing a start up business, this is worth a look! This cleverly presented slideshow sums up beautifully what a lot of people put up with at work. It is kindly shared by a UK based organisation http://www.enjoywork.org. Watch this below!

Misery. Why people hate work.

View more presentations from enjoywork.org

And here is my comment … There are some really kind and considerate employers out there but tend to be in the minority. At the same time, rude, inconsiderate and sometimes creepy co-workers seem to be in the majority; all competing to advance their own agenda. So if you have moved around a bit in your industry and still not happy, it may be time for a permanent lifestyle change. If you have lost the enjoyment of working for someone else and you deep down harbour a desire to march to the beat of your own drum, then it might be time to think about managing start up business for your self.

You can be the boss you always wanted to have; and you can regain the enjoyment of work by building your own workplace culture the way you would like it to be. It is well known that the culture of a workplace, whether good or bad, whether by design or by default, comes from the top. Gather knowledge, get advice and get some good people on your side and it can be an enjoyable journey!

Email me at gary@garyweigh.com for my popular fact sheet, “Managing a start up business in Australia”. IT’S FREE!

Until next time!

Gary

The post How much do you enjoy work? first appeared on Gary Weigh.