Too time consuming?

Is starting your own business too time consuming?

If you are starting a business for the first time you are going to be faced with a fairly onerous time problem. Most of this is going to be taken up by learning what to do and researching everything you need to know in order to get started. Once you have that sorted out, you will be spending a lot of time setting up your business.

Government doesn’t help here as you will be queuing either physically or online to meet their requirements. Then there are the banks who will need your precious time to open accounts for your business. Now, get your accounts setup, design your marketing material, setup your premises, produce your first product, sign up with your various service providers …. and so on.

So everything is setup and ready to go but now you have to start selling your product or service and of course providing it to your customers. Then its all the paper work, book keeping and admin, not to mention Government returns and red tape. This happens day in and day out, all day. It steals your time.

There are a few options available to you to reduce the time pressure of starting and running your own business:

  • Taking a small business or entrepreneur course can save you time when compared to researching online. Usually this type of course will give you a guide on how to get things going, and you don’t have to wade through countless websites with conflicting information or information that is not applicable to South Africa.
  • You can still take the largely free option of researching information on the internet by following links from our home page or by viewing our blog articles. Its at least a place to start.
  • You can consider using a small business support incubator. Here you can begin with a business structure already in place for you, so no need to figure it all out. You can begin trading and then learn about everything in your own time and take it over as you learn.
  • Small business support incubators can also do all the admin and routine stuff in your business. They essentially act as your employees doing all the business tasks whilst you can focus your limited time on growing your business. In fact you get to choose how much time you want to spend, from virtually a few minutes a month to many hours a day, giving you plenty of flexibility.
  • You can buy shelf companies which have already been setup. This does give you a registered company, but there is still much to do to make a business work than just having a company structure.
  • You can employ someone to run your business for you. This ups you risk and costs, but if you get a good person that can work.
  • You can use a business service provider to either setup your business or even run it for you. If you have funds to do this it can work nicely, and you don;t have to worry about being an employer.