Should I Start a Business?

February 20, 2024
minutes to read
Warren More
Table of Contents

Starting a business can be one of the most rewarding things you ever do. However, before you take the plunge and create your own business, you must ask yourself if you have the attributes and skills required to succeed. In this blog post, we'll explore what it takes to start a business and how Thriday can help you along the way.

Are you passionate?

First, you need to ask yourself if you have a passion for your business idea. Starting a business takes a lot of hard work and dedication, so you must be genuinely interested in what you're doing. If you're not passionate about your business, staying motivated and pushing through the tough times will be much more complex.

Are you resilient?

Another essential attribute you need to have is resilience. Starting a business takes work, and you will face many challenges. You need to bounce back from setbacks and keep pushing forward. If you're the type of person who gives up quickly, then there may be better choices than starting a business.

Are you comfortable with numbers?

In addition to passion and resilience, you must have a good head for numbers. As a business owner, you must deal with taxes, accounting, and bookkeeping. If you're uncomfortable with numbers, you may need help with these tasks. However, with Thriday's automated accounting processes, you can simplify these tasks and focus on growing your business.

Are you efficient?

One of the most significant advantages of using Thriday is that it can help you save time and money. As a small business owner, you need to be able to manage your finances effectively. With Thriday, you can automate many accounting tasks, such as invoicing and expense tracking. This means you can spend more time focusing on your business and less on paperwork.

Another important skill you need to have is managing your time effectively. As a business owner, you will have a lot of responsibilities, and you need to be able to prioritize your tasks. With Thriday, you can streamline your workflow and stay organised, which will help you manage your time more effectively.

Small Business Attributes Quiz

Thriday has created a quiz designed to assess if you have the right attributes to start a business. The quiz can help you gauge your entrepreneurial readiness and identify areas for personal and professional development. By evaluating traits such as risk tolerance, adaptability, problem-solving skills, and perseverance, the quiz can provide valuable insights to determine if you possess the essential qualities needed for entrepreneurial success. You can take the quiz now.

Final Thoughts

Starting a business requires a combination of attributes and skills, including passion, resilience, a head for numbers, and effective time management. With Thriday's automated accounting processes, you can simplify many financial tasks associated with running a small business. So, if you're thinking about starting a business, ensure you have the right attributes and skills, and consider using Thriday to help you along the way.

DISCLAIMER: Team Thrive Pty Ltd ABN 15 637 676 496 (Thriday) is an authorised representative (No.1297601) of Regional Australia Bank ABN 21 087 650 360  AFSL 241167 (Regional Australia Bank).  Regional Australia Bank is the issuer of the transaction account and debit card available through Thriday. Any information provided by Thriday is general in nature and does not take into account your personal situation. You should consider whether Thriday is appropriate for you.

Why waste time on financial admin when Thriday can do it for you?

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