Chapter 3

How Do You Start?

The Business Plan

You don’t need a degree in business studies to run a successful business, but you do need to know some basic economics (you sell and your customer buys).

You also need a modicum of common sense, which is often sadly lacking in those who fail in their attempts to run a business.

The first stage in setting up a business is to draft a business plan, which will identify whether the business will generate a profit and provide a living wage for yourself.

It is important that this task is undertaken first, because if the business does not look like a goer at this stage, it will be a waste of time devoting any further effort to it.

The drafting of a business plan is so key to the creation of a successful ...

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