Page 34 - Paulisms: Gold Nuggets for Small Business
P. 34
Final Word
Listen to someone who made mistakes on all of the above points – me! There’s no need to reinvent the wheel.
When I started to be more commercial and put the disciplines described in this book in place, the business went onto a higher plane. I had more time on my side and the business kicked into another gear. I ended up being a pilot, guiding my plane to its destination.
If your model is right and are there great financial controls in place, you have a far more likelihood of success and creating an attractive business for a prospective buyer. That is the reward for having worked so hard for so many years.
Paulism: Start as you want to finish. Put strong financial controls and disciplines in place. Operate a commercial model from day one and don’t try and do it all yourself. Get accurate data quickly to help you determine whether indeed you really do have a business.
