Top Lessons Learnt when starting a business

I Have run a small micro business for the better part of seven years now I think I am uniquely qualified to make comment on the top tips to know when starting a small business.

Before starting the business I was a successful consultant, had an undergraduate degree and was doing postgraduate study.

I had read umpteen small business books about managing and starting businesses and thought that I knew what was involved.

So here are my top lessons that I learnt when starting a business:

1. Building a Market and and getting sales will take three times as long as you think
2. When factoring in expenditure double if not triple what you think it will cost!
3. If seeking funding double what you think you need and divide by four what equity you are giving up for the funding
4. If you need office space, try sharing an office with an established business first and then move once you have grown
5. Don't start a business alone, go into business with someone else.
6. And of course the number one lesson of all is cash flow is the most important thing you can look after!

I had read every single on of these lessons in every small business book I had ever read, but until it was me who was starting the business I had never understood the lessons.

But I suppose that's why they are called LESSONS!.

About Drew Wentzel

Welcome to my personal website, I am an Australian Small Business owner in the web services / software industry, based in Sydney Australia with clients all over the world. My company enflexion provides cost effective web solutions through a number of different brands and products.

The brands include:

Providing cost effective website solutions for all business.	Websites in 4 easy steps for micro businesses wanting to grow	A full ecommerce solution specifically built for florists to sell online	The worlds easiest, scalable and robust website Content Management Solution.

I have a degree in Information Sciences with multiple majors from the University of Technology Sydney. In addition to running my own business for 7 years I have held roles in a wide range of industries including:

• Government;


• Not For profit;


• Consulting and Commerce.