Here is the first part in the mini series about questions small business owners have when starting out. It’s not always easy to understand what comes up on Google when looking for answers. That’s why I’m trying to keep these snippets short. Hopefully it resolves some of your sticky points and you can get on with the business.
I had the idea when a friend told me he bought a small business as a side hustle. His main job at a bank running the business banking division showed him lots of business data, financial statements such as profit and loss and balance sheet reports, cashflows, tax returns and forecasts. But taking some real steps for taking over an existing business and making changes was not something that he had learned at school or work. When starting something new, it’s always about setting things up so it works best for you. A meeting with the accountant cleared up some of the things but his head was swimming with jargon and abbreviations.
Let me know what you think. Feedback is greatly appreciated as long as it’s kind.