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What do acorns, Diwali and good start-up business planning have in common?

Our very own Julie Sullivan got Fife Business Week off to a flying start and Kelly Craig was lucky enough to attend the “Start-up: Accelerate your new business” session with Kallum (with a ‘K’) Russell, Chief Enterprise Officer of Acorn Enterprise, here she share her thoughts.

I was lucky enough to attend the “Start-up: Accelerate your new business” session with Kallum (with a ‘K’) Russell, Chief Enterprise Officer of Acorn Enterprise.
Initially I approached this as an opportunity for me to see first-hand and from behind the terms and conditions what potential business owners are really thinking about. Also, I wanted to highlight the need for a holistic approach to business strategy. That is to say, you could develop the most innovative product, but if you do not consider your potential liabilities or litigation risks all your good work might be for nought.

However, within a few seconds Kallum got us all very involved and outside of our comfort zones (in his words the place you need to learn to be as a business owner).

No sooner had we contemplated our qualities and skills (outside the box of course), we were considering the importance of setting clear and achievable goals.
Kallum recommended having a monthly meeting with yourself, as you are your own best client. The aim here is three-fold:

• Regularly appraising your goals and setting new ones;
• Being accountable to yourself when goals are not achieved; and
• Praising and rewarding yourself when they are.

All sound advice for current and future business owners. I also thought the timing was fortuitous, as the message of taking stock, feeling gratitude and moving forward with optimism fit beautifully with Diwali, which lay on 11 November this year.

It is as critical to plan for growth and expansion (or indeed succession, if the ultimate aim is having the savings to take early retirement, travel extensively or spend more time with your family) as it is for getting your idea off the ground. It is important to set your priorities (personal and professional) so that your business is working for you, not the other way round. However, plan properly and you never know what oak might spring from that little acorn of an idea.
If you are considering setting-up in business please contact us to help you think about what you need to do to protect your investment of time, money and effort.

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