What Not To Do When Starting A Business

March 20, 2019 8:00 am Published by

Whether you are considering a franchise business venture, or you’re looking to open a business of your own we collated some of our favourite tips of what not to do when starting out for the first time.

Don’t Rush Into Collaboration

Partnering with a friend, a colleague or even a family member can have many benefits. From sharing expertise to splitting costs and even skills there will be times when collaboration is a good idea. However, consider whether you could take on the new venture on your own and think about how much control you want over your business. As a partner, you will need to answer to your collaborator and make decisions together (even when you have a difference of opinion). If you feel you might be better off on your own, think about the skills you need to learn and the finances you need to raise. Consider all options before rushing into any business partnership.

Don’t Forget Your Values

At Home Care Preferred, we pride ourselves on our values and vision and it’s one of the main things that keep us going every day. As a business owner or even a Home Care Preferred franchise owner – always keep in mind why you started out. It can be hard to keep reflecting back to your values when you are busy and under pressure. Remembering these will help you to make decisions and keep you on track. Read our values here.

Don’t Do Everything

Perhaps a little contradictory to point number 1, but this is not about partnering with someone. As a business owner, you cannot be everything to everyone. Map out your duties and capabilities and everything else – just delegate. Whether its admin, accounts or deliveries, there is someone who can help you. At Home Care Preferred we help franchise owners to lighten their workload by mentoring them and teaching them how to use the latest technology and software. With ongoing training, we ensure our business owners can focus on what’s most important – read more here.

Don’t Stop Making Mistakes

We’re all human and mistakes will be made. However, every mistake is something to learn and grow from. As a business owner, understand that you cannot prevent all mistakes in your work life and keep learning from each of them so that you don’t make them again. Stay humble and keep going.

Want to find out more about a franchise opportunity – contact us here.

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This post was written by Home Care Preferred