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Pre-Launch
Finances
Outsource Non-core functions
As you begin this stage you should have a more clear idea of where you need to focus your time, energy and funds. It is very common for new business owners to think they need to do it all to save money. This makes sense at first, but can lead to burnout and mistakes. In the end it could be even more costly.Based on your projections of cost and revenue. What Non-core functions should you look to outsource? These are typically �support' functions such as banking, payroll, legal documents, insurance, human resources, bookkeeping and more accounting. The exception would be if you are starting a bookkeeping business, for example, you likely will do your own.
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You should complete the following tasks before proceeding to the current one.
Update Business Financial Projections
After several accounting consults you may have a reasonable financial model in place. Based on all you've learned and discovered it is important to revisit your projections.To help prepare for almost any situation, you can make three versions. Make an optimistic version � that is if everything goes as planned. Make a realistic version assuming some delays and setbacks. Just make sure you understand what it is that is creating the setbacks so you can model them. Finally you can make a very pessimistic projection that details a very rough start. Most likely, reality will be somewhere in between all of these, but this exercise can help you not fear the unknown and prepare for any situation.Even wild success and growth can have challenging consequences so you want to be prepared for that as well.
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Small Business Marketing 101: Using Email, Social, Video and More
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