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A new business – Too bad I didn't know before…

The sky is blue, the sun is shining, and the birds are singing.  The hot coffee and the morning sky feel like a personal victory.  I am self-employed!


There's no boss to tell me what to do.  No alarm clock with an exact time to wake up.  And there are many other advantages that come along with the word self-employed.


Financial independence brings with it a responsibility that is with us at all times when we are self-employed.  It makes us set the alarm clock and feel obligated to the goals we've set and to the vision for which we aspire.


Research before or at the start of self-employment is no less important than at any other stage along the way. Many seemingly obvious things pop up when opening a business, such as: Creating a file at VAT and the Income Tax Authorities, printing business cards, opening bank accounts, and so on.  But before all of that, it's important to consult with different professionals about each of these subjects for guidance and direction about the correct order of operation for our business.  There's no one single, clear path – each business has different "should" and "must".  So, with proper direction, you can save precious time and money – which are important at the start of every business.  Even if the initial capital exists, it's still important to channel and maximize it for the benefit of the long-term business.


Accumulating knowledge during the initial stage is very important.  This will help build the process in a manner that is correct and focused for your business.  It's best to create a flow chart or prepare a table with the path ahead, including dates on one side to direct you and measure if you're keeping to your own time allocations.


Dates should use the following measurement – realistic, but not exaggerated.  Too much pressure is likely to do the opposite of what we've intended.  However, they also shouldn't be too easy with too much space, which could cause you to divert from a path of ongoing work.

New business

Conduct a self-examination during the first month, or even after each work week, by asking the following questions:


  1. Are you meeting your target schedule? Is it realistic and achievable?

  2. What are your biggest challenges in the work process? Is there anything that's preventing you from being even more effective?

  3. What knowledge is essential for the next stage?

  4. Are your priorities aligned with your goals?

  5. Has there been progress over the past week? What is the progress?


If you are unable to answer the above questions clearly, please consult with a professional about your next steps.

The initial acts of establishing a business, regardless of what kind, should happen during the planning stages.  Do not wait to finish commitments at your last place of work.

The more preparation and accumulated knowledge you have, the faster you'll be on your way to generating an income.


Two often overlooked resources during initial planning are bureaucracy and the need to internalize a new situation. Additionally, budgeting time for mistakes is important, as no business is without them. As the cliché goes, we learn from our mistakes.

Good luck!

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