Business and money|We received this in interesting question from a reader recently asking if business and money automatically go together. The keyword here was clearly automatically – taking that word out of the sentence the answer is almost without doubt ‘yes ‘ -however when you insert ‘automatically ‘ the new dimension adds the element that business and money may not be perfect mates.

As with all things what drives the issue is the nature of the business and the entrepreneur that is creating it. Business start-ups are known to have a high rate of mortality however with appropriate planning a business idea can take off and become an entrepreneurial success.

Starting your own business and expecting that it will immediately turn into a money-making machine is, to say the least somewhat optimistic. The opportunity to create income out of your business, however, should be realistic and if you take your basic business idea and apply the appropriate planning strategy to build on a firm foundation then your chances of success will be greatly elevated which in turn will almost certainly add to the money-making aspect.

Not all businesses are going to succeed, and we have in previous blogs explored many reasons why that is the case. The two main reasons have always been lack of capital/ money and lack of management/ entrepreneurial skills. In the past, we have also discussed how to start a business with no money and the approach that an entrepreneur should take to make that possible. The money aspect can therefore often be easily handled, the management and entrepreneurial aspects, however, may not always be compatible with business ownership.

Planning your venture at the earliest opportunity is going to give you the maximum potential for turning your business into a money-making venture. Getting started on the money making route is certainly a lot easier in today’s environment than perhaps a decade ago as there are now numerous easily accessible resources to point you in the right direction.