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Archive - 2021

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1
Starting A Small Business – Hiring Your First Employees
2
Starting A Small Business With A Plan
3
Starting A Small Business – With a Feasibility Check
4
Starting A Small Business – How Do I Start?
5
Starting A Small Business – What To Think About?

Starting A Small Business – Hiring Your First Employees

Welcome to our series on starting your small business.

In the past weeks, we have looked at getting clear why you are starting your business, what you need to think about before you start, how you actually start a small business, preparing a feasibility check on your idea, and starting with a written business plan.

This week, we are going to look at hiring your first employees.

It doesn’t matter how big or small your small business is, at some point, probably sooner than you think, you will need to hire employees. They may be full time, part-time or even casual staff, but at some time in the early days of the business, you will realise the need to leverage your time to grow the business. There may be some skills that you do not have or simply more hands that you need.

In this article, we are going to look at some regulatory preparation, how to prepare your business for employees, how to interview them, and how to onboard them into the business.

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Starting A Small Business With A Plan

We continue with our series of “how-to” articles on starting your small business and this week we will look at how having a plan can help you start your business, and begin its growth life-cycle.

It never ceases to amaze me that there are studies after studies that are conducted in various countries and years apart that come up with the same result.

Invariably about 80% of startup businesses are no longer in existence within 4 or 5 years of startup. Many of these studies dig deeper – and find that the number one cause of why people think their business failed is because they did not have a Business Plan.

We know this. Yet the cycle repeats itself.

So, you heard it here – if you are starting your small business, prepare your Business Plan.

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Starting A Small Business – With a Feasibility Check

In this series about starting a small business, we are going through all the steps to take when you are starting your business.

But if this is the first blog post you are reading in this series, then you have already missed out on knowing your Why, What to think about and get ready when you start, and How do you actually start the business. You may want to go back and catch up on the last three weeks!

This week, we are going to look in some detail about how you check if your business idea is sound and capable of succeeding. This is called a Feasibility Study.

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Starting A Small Business – How Do I Start?

As part of our series on starting a small business, we’ve looked at making sure you are clear about why you want to start your own business and what you need to think about, so this week we will look at the steps to take when you start your small business.

But first, I need to recognise that Teik Oh Dot Com is followed and read by small business owners across the world, so I need to say that the legislation and taxation requirements are different in every country, and even in the different jurisdictions like States or Territories that you may be situated in. So it pays to check and research with your own government agencies and tax authorities.

Indeed, the first step to take is to find yourself a good accountant who can guide you through incorporation and registrations.

If you don’t already know one, how do you find one?

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Starting A Small Business – What To Think About?

This is the second in our series of blog posts about starting a small business, and this week we will look at what you need to think about when you are planning to start a business.

Next week, we will continue and look at the steps you need to take from registrations to opening for business.

Starting a new business is not as simple as deciding what you want to sell and opening your doors – at least, not if you want to build a successful business.

A business is made up of many parts and you need to think about how these parts will work efficiently and at the right quality standards, right from the start, so that you design your successful business from the ground up.

There are three critical parts of a business, no matter what size and no matter what you sell,

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