Rule 1: Make Yourself a Leader
When you own and/or run a business you are a leader. The strongest lessons you will teach your staff are by example.
Rule 2: Plan, Plan, Plan
To grow a business, you need to have some way of seeing its future success. This means you must have a business plan. You need to put your growth plans on paper to test their viability.
Rule 3: Be One Step Ahead
To get an edge on your rivals, you must pursue training, consult experts and research what winners on the cutting edge are up to.
Rule 4: Systemise Your Business
Implement best practice and quality control methods and systemise your business. Systems also give certainty to your staff. It makes them more accountable.
Rule 5: Have a Sophisticated Financial Control System
Rule 6: Tax Strategies
The bigger your business grows the more you will need to have a sound taxation strategy. Sensible tax planning means setting aside time to work through these issues with your accountant and/or financial controller.
Rule 7: Develop Your Online Capacity
Rule 8: Train Your Human Resources
Rule 9: Control The Risks
Have a risk management strategy for both yourself and the business.
Rule 10: Market Yourself
You must market your business and this requires having a sound marketing plan to accompany your business plan.
Excerpt from article in Tax Practice magazine by Peter Switzer.