A Business vs. A Company

‍A business is any trading operation where goods or services are sold, while a company is a separate legal entity with its own rights, responsibilities, and obligations.

These steps are primarily written for those looking to start a construction company, but we’ll also briefly cover pathways for sole traders.

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What’s Your Goal?‍

Many people aspiring to start their own construction business often think:

• “I’m tired of working hard for someone else.”
• “I want to earn more so I can live life on my terms.”
• “I’d love to buy that boat or get a ute like that.”
• “I want to work on my own schedule.”

Whatever your motivation, it’s crucial to be clear on what you want to achieve. It might be as simple as, “I just want to work for myself.”

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Facing Self-Doubt‍

The next wave of thoughts usually sounds like this:

• “I don’t know how to set up a business.”
• “What if I fail?”

These concerns are completely valid and, for many, become significant barriers to success. In fact, most people never take the leap because they’re paralysed by fear and uncertainty. A major part of this stems from limiting beliefs like:

1. “I’m not good enough and there are so many people better than me.”
2. “It will be so embarrassing if I fail.”
3. “I don’t know how to start or run a business, and I have no support.”

Here’s the truth, said with love:

1. ‍"I'm not good enough and there are so many people better than me": There will always be people who seem ahead of you. Use them as inspiration — they’ve already walked the path you want to take, and you can learn from their journey.‍
2. "It will be embarrassing if I fail": Sure, failure is possible, but think about the alternative — staying on the tools until you're 45 with a bad back, still struggling with a mortgage at 65. If things don’t work out, you can always get another job and carry on. You only really fail if you quit.
3. "I don’t know how to set up or run a business, and I have no support": You can learn. We’re here to help, and we’ll guide you to the right professionals — accountants, bookkeepers, lawyers, architects, engineers. You won’t need them all at once, but it’s vital to know when and how to reach out for help.

Make a Decision
It’s important to address these doubts now because they can hold you back later when you've invested time, energy, and money. Once you’ve worked through them, assess your situation and make a decision:

‍Am I going to do this or not?

• ‍No: That’s okay. There’s no deadline for pursuing your dreams. Everyone’s journey is different, and you can always return to it when you’re ready.‍
• Yes: Great! The following sections will guide you through the practical steps to set up a successful business.

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If you’re ready, move on to the next step.