If you have just branched out on your own, you’ve finally decided to take that golden idea and make your passion into your job, then there are some very quick lessons you will almost immediately learn.

You’re first day in business will show you just how much you still need to learn. From setting up a business bank account to figuring out how much money you are really making, these lessons are vital to your success.

Registering Your Company

If you have a logo, a name a design concept or even a whole new product, you need to protect yourself and your future profits. You can easily register your brand for trademark protection, you can patent your ideas and you can copyright your name.

All of these are wise moves if you have the available capital, on the other hand, you are also protected by the Intellectual Property Rights for free. If you can prove you have created the name first, and used it, then you can defend yourself from copycats.

Setting Up The Office

Do you need to move out straight away and have a physical presence for customers or suppliers to visit? If you are heading straight online and avoiding the brick world, your set up costs are dramatically reduced and the time involved is also significantly cut.

Consider if you need the building right away, could you wait a few months before you move out of the front room?

Know Your Numbers

There is no excuse for not being able to know how much profit you are making, how much product you have in stock and how many customers you have. There are too many specialist programmes around for making sure you know your numbers.

If you don’t know how to figure out Net Profit instead of Gross Profit or you don’t know what is cost of goods sold, then you should quickly find out. These are the driving numbers for any organisation.

Train Your Staff

It doesn’t matter how big your company ever gets, your staff are your biggest asset. They are the interaction with the customers, they are you chief selling point and they are the ones who can drive you onwards to greater profit and sales.

The more time you can invest in training them up and making sure they know the systems, the products, the markets and most importantly your customers, the more chance you give them of making that vital sale.

Enjoy It

The days are going to be long, the decisions are going to come thick and fast. Some days you will not have a clue where all the hours have gone because you have just been on the go since before sunrise. Remember that you love this, you have chosen to do this and that you are in control of what you do.

This was your decision and you are rocking it. This is your time to shine and your time to make that life changing move.