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Smarter business start-ups: Start your dream business by Jon Smith

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51

The Poseidon adventure

No matter how well crafted your plan, things can and often do go wrong; good business acumen is judged partly on how you minimise your risk but also on how well you deal with setbacks.

Despite the best will in the world and your best efforts, orders sometimes aren’t what they should be. The question is, will you run or will you fight?

Quiet weeks quickly turn into quiet months and inevitably you have a lot more money going out than is coming in. There really is no point just hoping that things are going to turn out for the best and everything will sort itself out. It won’t, not without a level of interaction from you. Keeping accurate records of your accounts is a minimum requirement for any business, but the trick ...

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