Starting a new business ?????

I would just like to add something constructive to this thread.

My top 10 commandments for business startups are :

1. Thy shall retain the services of an accountant.
Get yourself a good accountant, you shouldnt be paying more than £60 - £80 a month, but a good accountant will help shoulder a lot of legal responsibilities and duties you need to undertake when setting up and running a business.

2. Draw up a simple business plan for yourself.
You need to have a clear idea regarding what it is you are going to do in business and how you are going to do it. A business plan should be a wishlist of all the things you want to do, when you polish it and think about it, this should be wittled down to what you can realistically acheive with the resources you have.

3. Dont get into debt or take out a startup loan.
This is only my own personal opinion but there will be times in business when you dont make enough money to pay yourself the minimum wage, if on top of this you have to repay a loan, then you wont be in business very long.

4. Get a good business bank account.
Most banks are rubbish, they charge you no matter what you do, pay money in, take money out and there shaking the fee tin. Shop around look for free banking deals before committing to anyone.

5. Treat your supplies like your new best friends.
I have never treated my supplies and the people who supply services to my business better. Christmas presents, birthday present, remember their childrens names, ask how their spouses are, try to meet your suppliers for lunch (you pay) this means when you need them, they will be there to help you and vice versa, if they have a sales target return the favour. Looking after your suppliers is never bad for business.

6. Look after your customers and they will look after you.
Start off in business by knowing who your customers are and will be, find out what they want from you and how you can serve them better. Customer service means serving the customer, looking after your customers, will mean they will be returning customers and returning customers are good for business

7. Stay focused.
Dont jump from idea to idea, you will never acheive anything like that. Think through the idea propertly pick at the pros and cons of the idea and develop it. Once you formally commit to an idea, you live and die by it.

8. Become an expert in your chosen field.
When you've been in business a while you will soon build up experience and become really good at what you do. Join forums like this one and share some knowledge, share some of your expertise in your business to help someone else.

9. Don't grow too quickly, build on firm foundations
Growing too quickly can be fatal, make sure your business doesnt grow too quickly or you could build up a bad reputation especually if people are waiting too long for their products or service.

10 (Golden Rule) Work life balance
Why are you wanting to improve your life, is it for your family ? If so, dont spend all your time working, get the work / life balance right you will be truly happy.