A lot of the nation tunes in on a Wednesday night watching the Great British Bake Off to see what the amateur bakers have to come up with in the kitchen after being set the challenges by Mary Berry and Paul Hollywood.
All of the bakers are given a brief of what type of cake they have to make and are given their ingredients and then they have to start the process of cake making. A lot of times they are making their own recipes which they will have tried at home countless times and these will often work well.
How Long Is It Cooked For ?
What is most challenging is when they are given an example of a cake to make and the ingredients and quantities but not what to do next. This is where their baking skills come out and they work out how to use the right techniques to ( hopefully ! ) produce the cake that pass the test from the judges. Hopefully no saggy bottoms in sight !
Do You Have The Business Recipe ?
Starting a business has many of the same issues as being a baker on GBBO. You have the first example where you have run a business before and have discovered by trial and error in previous businesses how to make it a success. You have in place your desired outcome and your ingredients are the product or service you are providing. The baking tools you have are all the business skills and knowledge you have to make a success of your business.
The second example is where you have the product or service that you want to provide already and you have a reasonable idea of what you want your business to achieve. But you are often not aware of the tools you need to move your business from the idea stage to a fully functioning successful business.
The Perfect Business Recipe Card
Over the coming weeks I will expand a bit more on what you need to do if you are looking to start a business and you are in the second example but the key thing is you speak to an accountant first before you do anything. Most accountants will not charge for an initial chat and at Hemingway Bailey, we are always happy to meet over a cup of coffee to talk you through your options.
We often meet businesses who have being trading for a number of months who have never spoken to an accountant and they are in the wrong business structure for what they are doing. Other businesses may be recording ( or often not recording ) the wrong information or doing something that will have adverse implications further down the line with regards to tax and statutory reporting.
Doing It Right From The Start
Having that initial meeting with an accountant before the business started would have meant the structure would have been right for the business now and for the future and that initial advice would have meant that they were doing the right things with regards to tax and accounting.
At Hemingway Bailey we give business startups a lot of support and that is from day one and that means you always know what business tools you need to use and we are always there for you when you want to check to see if now is the business equivalent of when to take the cake out of the oven.
We cannot guarantee you the perfect souffle but we can certainly guarantee you that you do not get a business saggy bottom !