When starting out in business it’s critical to build a solid foundation, first by establishing and secondly maintaining a set of systems specific to your business. There’s no magic pill for this or strict set of rules. It’s up to each person to put together the systems forming a solid foundation. Hopefully its better than your competitors, giving you the competitive edge. Don’t know where to start and want some help? Having a book-keeper with loads of experience is a great resource to turn too.
To build and test processes its helpful to accept it can involve more time than a standard week. Time spent during the formation stage can also equate to drawing less than you potentially should. Every business needs capital to work and during this stage you don’t yet have an established basis. Sure there are books that say pay yourself first, too working to a strict schedule to separate business time from personal. In our opinion however you should only introduce things like this down the track, when you know your business is reasonably secure. We can’t stress enough how important it is to undertake the critical ground work forming a solid foundation.