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The Best Business Tips: Tried and Tested

From Richard Branson to the long running small business owner; every city and every nation has a barrage of experienced professionals who have their top tips and advice on achieving lasting entrepreneurial success. However, with so many business owners telling you what works, what doesn’t and what you should and shouldn’t do; it can be very difficult to know what advice to take on board.

At Calculated Accountants we have years of experience in helping a range of businesses retain their strength and continue to move forward on the path to success. Our experience working with start up and small businesses means that we have our own favourite advice and tips, narrowed down from the huge selection, which have been tried, tested and proven to have worked.

Below are our personal top business tips, which include a mixture of general advice put forward by the average yet experienced business owner, to useful insights from millionaires and celebrity business men from around the world...

  • Love What You Do- The sheer dedication, time and not to mention the money that is required to get a business up and running can drain even the best of us which is why it is important that you only do what you love and love what you do. Only with real and honest passion for your business can you continue to keep moving during the tough times that will lie ahead.
  • “You get the idea. Every business, like a painting, operates according to its own rules. There are many ways to run a successful company. What works once may never work again. What everyone tells you never to do may just work, once. There are no rules. You don't learn to walk by following rules. You learn by doing, and by falling over, and it's because you fall over that you learn to save yourself from falling over. It's the greatest thrill in the world and it runs away screaming at the first sight of bullet points.” ― Richard Branson
  • Be Prepared- When starting a business; dreams of success and continued growth will no doubt be prevalent for every business owner however it is important not to get lost in a dream world. Remain prepared and aware of the harsh reality of the business world as not everything works and sometimes you may have to walk away. Try not to be too stubborn and instead simply take a step back, assess your errors and learn from them. Don’t be too defeated as even the world’s most successful businessmen and women have had to, at one point or another, admit defeat.
  • “Focus on Quality and Execution”- 1) Hire exceptional people, make sure they feel valued and can work as a team. 2) Work to achieve synergy (energy and alignment). 3) Practice Kaizen (Japanese for "small improvement" and "better") everyday focusing on getting a little bit better with the belief that over time outcomes become significant. 4) Focus on expands and set outcomes that are bold, passionate, measurable, written and positive. 5) Worry less about growth and more about quality and execution. When you take care of your customers and exceed their expectations, growth and opportunity follow. 6) Remember that success often comes to those who get in front of the inevitable. –Chad and Troy McWhinney
  • Know Your Money- Your understanding of your finances is key to success. From turnover, cash flow, payroll tax and VAT, it is not only important that you are aware of the financial details and duties facing your business but you have a team or at least one dedicated accountant on the ball and ensuring everything is up to scratch.

The right advice and the right insights can provide a real nudge in the right direction particularly for the start up business owners and at Calculated Accountants we do our best to keep nudging as much as possible.

Do you have any financial tips that helped you during your start up phase? Let us know!

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