There are plenty of resources available to assist a startup with the technical aspects. Anyone can register a business, make something and sell it. So why do 75% of South African startups fail? What is different about the owners that succeed? If you started a business, you need to be ready for the negatives as well as the positives. Here are 10 things you need to know about being a business owner.

1. Do the basics well

Running a business is complex. It is easy to get so involved with the nuts and bolts that the purpose of the business – to make money, get lost.

So much is written about businesses that the typical owner does not struggle to get tips. More often than not, the problem is

1. Figure out what you want and run with it.

Do you want to be your own boss or do you want to be a business owner? Those things are not the same. A hairdresser, for example, could cut hair or own a hairdressing company. If you want to

If you started your business because you want to be your own boss, you may find that you still want to work in a business, but without supervision. Some people prefer to work as part of a team while others perform better on their own.

2. Don’t stay in the cockpit

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3. You can always change

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4. Use technology, don’t be used by it

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5. Know your finances

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6. Hold on to your balls

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8. The client is everything

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9. Cash is king, but not everything

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10. Begin with the end in mind

It is easy to get disorientated while we are in the eye of the storm.