Accelerate your personal finance knowledge with this regular feature on Ringgit Oh Ringgit – the Link Roundup! I promise you’ll find these 10 links informational 🙂
1. 9 things no one tells you when you’re starting a business – The Ladders
It’s a bit oversimplified, but serves as a nice checklist of things you probably don’t know when you’re starting a business, especially if you’re jumping from salaried life to self-employment life.
The 9 things are:
- Begin with revenue. Your ideas are great, but how will it bring in the money?
- Protect your IP. Things get stolen all the time.
- Market yourself. Not just your products and services.
- Know your ‘why’. The reason for it all.
- Understand yourself so you can make great hires. Hire people who are good at what you’re not good at. Take the DISC personality test.
- You are NOT the boss. The customers are the boss (but that doesn’t mean you can’t fire them.)
- Build a structure and find balance. Find a routine that works and won’t burn you out.
- Build a tax savings account and emergency savings. Practical
- Embrace change and challenges. You’ll be putting your problem-solving skills to the test.
Any of you want to add on to this list? Add them in the comments section.
Related: 11 things I learned about self-employment in Malaysia
