THANK YOU to all who turned up for the event- New Year Reception and Talk by – Norrie Sinclair futuresinc.pl
It was an enjoyable evening where we got some insights about the ins and outs of setting up a business.
THANK YOU, Norrie for sharing your experience with us and for providing the Prosecco and finger food.
Below we list a few insights that come to mind:
TO SET UP A BUSINESS:
- Requires tenacity and a big dose of patience!
- Be prepared for a very rocky road in the first year at least.
- Follow the rules and regulations, particularly important in Poland, hire an accountant.
- A large up-front capital is not always a necessity and sometimes it’s better to start small
- Have a business plan but be realistic about returns, cut your predictions in half and half those again!
- Can be rewarding and very satisfying.
- Share your plans with your spouse early on and set limits on spending, review progress together
- Working solo can be lonesome.
- Having a partner is a good idea but think about different skill sets to complement the business.
- Partnering up with a university can be a good place to start (incubator and entrepreneurship program)
- Cultivate good relations with your staff and customers
- Be careful if using outside investors. It will depend on which stage your business is in as to which type of investor you will want to look for (if one at all).
As promised, attached please find the PP slides (via link to hereweareglobal.com) for the HWAP and Norrie’s slides:
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