10 THINGS... I'VE LEARNT ABOUT SETTING UP A BUSINESS

Photo David Wren

A new series on the Mad To Live Zine, “10 Things…” kicks off with 10 things Founder Sophie Everard has learnt about setting up a Forbes profiled business!

1.  You will use every skill you’ve accumulated in life to date and be grateful you have it.  That sales job you hated? Bang, insight into how to sell articulately and look at things from a commercial perspective. Bar-tending in your early 20s? Hello customer service understanding.  Don’t discount the small steps that have taken you to this moment

2.  Prepare to work twice as hard as in any of your previous jobs. But you will be happy too, as this time, your company is like your new baby/ new fav Ben & Jerry’s flavour /extension of you.

3.  No one will really stress the importance of carving our rest time and defining work/personal life boundaries until those lines are so blurred you’re unsure of where work ends and your personal life begins.  Set those boundaries early on. Your future mental well-being will thank you for it.

4.  Never discount or discredit “following your gut”: got a killer idea everyone else is pooh=pooing but some tithing inside you tells you this could be the next Apple?  Go for it.  Many of the world’s greatest innovators faced similar guffaws at sharing their novel idea.

5.  Working with a good accountant early on is the best money you will invest.  Keep your books straight, ledgers legible, and boxes checked.   When it comes to crises (e.g. COVID) and as a freelancer/ltd company/business owner, you need to ensure you are also paying your taxes and can benefit from government assistance when you need it.

6.   Take time to plan carefully and strategise, otherwise, you can lose sight of goals.

7.  Continue your development: consult those more experienced. Undertake helpful courses. Don’t be afraid to ask for  help.

8.  You will make sacrifices in your personal life that feel major, and they are. 

9.  You will feel so proud of yourself and amazed at what it is possible to achieve.

10. The first 5 years will fly and when you have a moment to reflect, it’ll seem like one wild dream that came to life.