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To succeed in business( and make money) all entrepreneurs must understand the financial facts of life.

Assets and Liabilities

• An asset puts money in your pocket;and
• A liability takes money out of pocket

Examples are:

Assets	Liabilities
1.Property	1.Mortgage
2.Stocks/shares	2.Loans
3.ISA	3.Credit cards

Cashflow-this is the management of income versus expenditure-Income should always be greater

Return on Investment-the first thing to realize is that an investor needs a return on the capital invested. A smart entrepreneur will ensure that a proposition makes sound business sense

Innovation-not necessarily an invention.This can be a new way of operating a business

Good Team-one of the most difficult aspects.You need someone with the ability to sell;someone with the ability to count (business is built on numbers);and someone with start-up,product and customer experience.

Market Opportunity-markets are discovered, not invented.

Business Plan-make no mistake,business is war.A business battle plan is the path you plan to chart to achieve success.

A fast growing market,with few competitors,ready to be exploited and the market you understand that appreciates your innovation is the ideal scenario.

Free Resources

Business Plan Template

SME Funding Guide

Business Sites

DTI

Business Link

Start-Ups

Flying startups