5 Things You're Not Told When You Start Your Own Business

However, there are also a lot of important things about business that you aren't told, which could improve your business. To find five of these all-important things, make sure to read on:

Quick fixes are okay

When starting a business, you aren't told to fix things quickly to get yourself out of trouble fast. If anything, you're told to wait to fix your problems, no matter how long you have to wait for, be it days or weeks. However, this isn't always a feasible course of action to take as a business owner, as some problems need fixing now. To fix such problems, it is very much okay to embrace the quick fix.

Whether this means acting in a make-do manner by covering a hole in an office wall with a photo or even duct tape; whether this means having somebody unqualified but in-the-know fix a burned out lightbulb, or to take a look at your company computers. Or whether this means factoring an invoice when you're struggling to receive payment from a customer to get your money quicker. Whatever you do, if you need to, don't be afraid to fix something quickly.

A quick fix is not about living in blissful ignorance that a problem is fixed completely when, in fact, it isn't. In contrast, a quick fix is about doing what you have to now, in regards to time restraints, to keep your business alive.

It's okay to turn down a job

As a fresh-faced business owner, it's only natural to want to take every job offered to you. Well, when the money on offer to do so is on the table, it's hard down to turn it down. Taking every job, however, is not something you should be doing. Doing so will tire the resources, the time and the effort needed to make sure every customer you serve gets the service they deserve.

For instance, a restaurant owner taking too many bookings in one night, when they're not prepared to do so, will result in certain customers not getting their food on time or prepared the way they expect it to be. As a result, the restaurant owner would lose customers and lose money in the future.

Taking too many jobs when you are not equipped to do so may earn you money in the short term, but it will lose you it in the long term. So, if you can't do a job or if it doesn't feel right, turn it down. When you do, make sure you do so professionally.

'One size fits all' does not work in business

You may be under the impression, as a new business, that it is a "one size fits all," but it doesn't. It doesn't because each individual business is different, even to those they share a market with. It doesn't because different areas of businesses demand different courses of action. After all, you wouldn't face a customer-facing problem with your accountancy hat on, or vice versa, for instance.

One size certainly does not fit all in business, and getting used to wearing different hats at different times will help you to get to grips with this. By working on your actions and even your tone of voice, you'll be able to succeed in every area of your business. So, stop thinking your business is one big establishment, and instead see it for what it is: a multitude of different areas.

Asking for help is not only okay but advisable

As a business owner, you will, at some point, want to do things on your own. You will want to keep a tight grip on the reins. You will want to do things your way. This is quite natural because your business is your business, but refusing to accept help in this way will do you, nor your business, any good. It is simple: you have to ask for help when you need it, whether you're told to when you start your business or not. In fact, it is advisable that you do.

You have to ask for help because doing so will, more than likely, provide you with the tailored support you need to succeed in the multitude of different areas found in your business. You have to ask for help from professional accountants, for instance, when you come to deal with the financial side of your business.

Credit cards are not the devil

You won't be advised to use credit cards when starting your own business, but doing so might provide you with the only real chance you have of keeping your business alive. By doing so, what with banks becoming more and more reluctant to finance startups today, you could find the capital you need to keep your business's doors open after the initial buzz of it dies down. So, don't dismiss credit cards as the devil, and if you need to embrace their usage, embrace it.

When you do embrace credit cards in your business, you need to be careful. As you are more than likely aware, despite the free-spending spirit they induce, they do not equal free money. Again, they do not equal free money! As stated in this guide that provides information on everything you need to know about credit cards, when you do begin using a credit card for your business's needs, you shouldn't fool yourself into thinking that you can use them whenever, wherever. What is also stated in the guide, quite importantly, is the fact that credit cards come with their limits. What this means is that you have to be smart about how you use your credit card. To the point, you have to be smart with the amount you spend and borrow on credit in regards to your capabilities of paying the money back.

Starting a business doesn't come with a handbook, and there isn't anybody there to tell you what you should and should not do. Yes, you might receive some advice along the way, and you should take the advice above, but it's down to you to figure it all out. So, get figuring it out!