Building a Start Up (part 4)
When I was little I used to make budget plans for everything. From small shopping outings to my savings account, I made a budget! I was a bit of weird kid haha… I would have a column for the desired goods (they were hilarious, mostly sweets) and a column for the estimated cost, below that was the amount everything would cost and my budgeted amount. It wasn’t exactly a ledger but I was on to something.
I think it’s always a good thing to plan out a budget, if that’s not the obvious choice. Big or small it’s a good idea because you are able to use your money wisely and then have a little extra to save, 10% a month at the least.
Other admin-y things I would advise is to set up a business account. It’s a bit of a mission but it’s well worth it in the long run.
Playing to your strengths is something I regard highly. If I know I’m capable of something I do my best to attend to it. If I know something is going to be a struggle and I think I could maybe handle it, I prefer to delegate. I think this works best for two reasons:
- The person you delegate the job to will probably do it better than you would.
- You can’t do everything. I know women are actually superhero's (hehe… seriously;) but it’s really not going to end well. You’ll end up not doing the things you are good at, at your full capacity and the standard of your work will drop.
I wanted to do this series because I love the fact that as entrepreneurs we can encourage one another and share stories. I have just touched on a few things that have helped me but I would love to hear your story. Please pop me a mail and let’s chat.