A guide for potential business owners

If you've ever thought about starting a business, now may not be the perfect time.

If you've ever thought about starting a business, now may not be the perfect time.

On the other hand it may be the perfect time to set yourself up for the day that things get better.

Warren Buffet, the world's richest man, once said about jumping into the stock market: "When others are scared be greedy, and when others are greedy be scared."

His advice may relate to the stock exchange market, but somehow it resonates with Starting your own business in South AfricabyTerblanche, Moeng and Macleod.

Potential business owners are often either too scared or too greedy. This can be seen in the endless start-up failures and empires that become so big that they won't allow others to enter the industry.

The title is admittedly daunting, conjuring up images of spreadsheets, financial statements and an endless barrage of business terminology.

However, it reveals itself to be more of a friendly uncle who passes on his wisdom.

Here are the experiences of many successful and unsuccessful business people who share more of the personal journeys rather than the technical know-how that universities tend to favour. While there are hard business skills covered and referred to here, this book focuses more on the minefield that starting a business from scratch can be.

Questions of starting capital, who to partner with, working hours, cash flow management and endless hints about issues that commonly plague established and start-ups alike are covered here.

While it won't make you an MBA, it goes a long way in taking away some of the bigger fears of going into business.

One of the more profound quotes from the book reads: "Beginner business owners should realise that business is more an art than a science, with few rules and many styles.

"The value of business gurus and their disciples who preach a single system as the answer to all business woes is limited, though even here one can't make a rule," it advises.

Case studies will keep you captivated as you see how it works in the real world, and the conversational style will also keep you captivated as your subconscious fears come to light.