Starting your own business

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Business Appraisals and Assessments

 

The Need for Constant Review, Assessment and Appraisal

Every individual who is considering starting a business should regularly carry out a business appraisal and assessment on everything from their ideas to the manner in which they are planning to trade and gain customers.

The old saying “if you don’t, then someone else will” is only too true as regards to testing an ambition to setup on a self-employed basis. It might be a friend or family member who after listening to your idea with great interest finally steps up to say “your idea will not work!”

If that does not happen it may be the bank and other financiers who, after their assessing and appraising, deliver the bad news (although their language may be different).

The result in either case can be a huge deflator to the aspirations of the individual and it is far better to hear it sooner when corrective action can be taken rather than later when wholesale change may seem insurmountable.

 
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