Why Do Entrepreneurs Need Professional Advice?

Professional advice from a business counsellor or business advisor helps you as the entrepreneur deal with the formalities of establishing what legal form your business should take, drawing up your accounts, dealing with the relevant authorities about taxes, insurance issues and industrial related issues. Several service providers offer advice on many issues.

Small businesses usually fail because of poor management. It is the role of service providers to improve the quality of Small Medium Entrepreneurs (SMEs) management through the provision of training and advice. Accredited service providers should be capable of delivering the required quality of support services to business in a practical and timely manner. Accredited service providers obviously charge for their services, so it is worthwhile being prepared for any meetings, so that you can make the most of the time you spend with them. Take the time to talk to professionals before you start your business.

A professional advisor (accredited service provider) will be able to advise on how to retain receipts for all your business expenses. This person should be able to advise you on what your liabilities are and will help you establish the most appropriate bookkeeping system for your business.

Starting your own business and becoming self employed will mean you have to deal with issues like tax, industrial relations, provident funds, which are all responsibilities that were taken care of while you were working for someone else. If problems arise, they will land on your desk and sorting them out will not be easy. Seeking advice from professionals at an early stage in your plans, and ensuring your business operates with their continuous support will be of real benefit to you and your business.

The relevant government official departments can answer any general enquiries you may have. They publish leaflets that explain what your obligations are. But they cannot give you comprehensive information on available business opportunities, they also cannot refine your business idea and they cannot provide you with training, counselling and marketing support.

These professionals may also help an entrepreneur with helpful networks; also share with him or her upcoming business opportunities. In addition, professionals help an entrepreneur by also managing his/ her resources and also applying strict financial discipline. This can only be possible if the entrepreneur has signed a management contract with the service provider.

Other services that Service Providers should provide

(a) Researching new markets
(b) Developing products
(c) Business opportunities
(d) Finding customers
(e) Testing the feasibility of a business idea
(f) Testing the viability of the business idea

So as an entrepreneur you definitely need some good advice for your business. You can get so much possible opportunities and advice above your imagination.

Biggest mistake Internet business start-ups make

People earned millions literally, by working online from their homes in early days of e-commerce. When their amazing stories reached out, more people jumped in with new ideas. Businesses started on trial bases or even for fun purpose, transformed into large companies. Internet has always been a great opportunity for people willing to work for themselves, who are more comfortable while working from their homes. Online success stories (there are plenty) lure many into trying their luck. What most beginners have in their mind is, all they need to do is to set up a website and somehow the traffic will start pouring in, they will be earning a big fortune as soon as they start. Dreams should never be discouraged, but those without the backing of hard work and concrete planning, can soon turn into nightmares. What they actually see after few months is disappointing and heart breaking. A quick entry without proper planning and research, results in a quicker exit from cyber world. Biggest mistake what internet startups make is, taking things for granted.

Invest time:
Financial investment may not be a requisite that much in an online business, but you need to invest time. In e-commerce, time really is money. There is no alternative of hard work. Businesses that earn 24/7 online are a result of many sleepless nights. If you can’t spend hours and hours working on your idea, in front of your monitor, then internet business is not for you.

Research:
Internet and more importantly search engines have made searching a lot easier and fun these days. You can search for virtually anything.
Willing to start an online business, don’t have any idea? Search.
You have got the idea but you don't know how to get things started? Search.
You have launched a business, but you are clueless about online marketing? Search.
Online research not only provides you with what you were looking for, it can also bring so many dimensions to your searched information. New ideas seem to come into your mind from no where.

Be ready for Competition:
Competition is far more intense in online business now days. Even if you have launched a business as unique as yourself, you will soon find some competitor trying to catch up with you. This will be a sign of two things, first that your idea has worked and second that now you need to work harder to be on top.

Get help from Search Engines:
More then 90% internet users use search engines to find the information or product they are looking for. While you cannot force or request search engines to send more traffic your way, you can always do search engine optimization to get better ranking in search engines results page. Search engines are the easiest medium to drag customers to your site. Although it’s not that easy to get higher rankings in search results, but all your efforts toward improved rankings are well worth it.