Setting up your own business is one of the greatest and most fulfilling things you can do in life. Yet, time and time again, we’ve all seen it come crashing down because the proper precautions were not set in place. As a small business owner, it’s up to you to watch your own back. Entrepreneurship is a complex beast to understand, but essentially ideas are spun out into the real world to see what sticks.
However the merit of the idea may be sound, but the way your business is set up and how it functions can create chinks in the armor. Having a good solid team around you to think about the pitfalls and potential fights with authorities, legal circles and opposing group, is something every business owner, large or small needs to have. But there are many forms in which a protective cocoon can take; people power is just as important as strong legal structures.
The level-headed seniors
As part of your upper management, executives and senior advisors, people you employ can give you their precarious opinions when you need them most. When you’re planning a project, whether it involves planning permission, drawing up a binding terms and conditions agreement, or dealing with other businesses, staff with brilliant minds can look into greater detail concerning any negative implications.
It’s wise therefore to promote voices of reasons in your office where crucial decisions involving money, business image and future projections are concerned. This can only come due to experience. Many businesses these days are all too rapidly hiring younger people because they believe new ideas come from fresh minds. This may be true, but the senior and more maturely aged staff can protect you from going too far with an idea.
Keeping your distance
Having the ability to make a good sales report is a sign of progress and success. You rely on consumers to make continuous purchases from your business to keep going. Realistically, it’s almost like an unofficial agreement that is mutually beneficial. It’s therefore wise to make assurances you have made the proper plans in case you are falsely accused of either damaging a customer or not living up to a perceived agreement.
You should always have on hand experts who are knowledgeable in business law. Business litigation is a big concern for entrepreneurs as they don’t have the big corporate lawyers in the palm of their hands, yet may be subject to one of the most common forms of legal frictions.
Uphold company standards
When you are employing staff and going through the complicated process of interviews and signing employment contracts, it’s imperative you keep in mind what they represent. Ultimately the actions of employees will reflect back on the business.
Your employment contract should clearly state the prohibition of any malpractice, and especially the contractual agreement to uphold any legal standards the business is adhering to. It will take a slow and steady pace to word your contract correctly, but this provides you with an extra safety net.
Businesses are able to stay afloat sometimes, purely because they have the nature of a robust protective cocoon. This includes employees that follow company codes, a great legal team to help you word important consumer agreements, as well as senior staff with good diplomacy skills.
Starting a business is quite possibly one of the most nerve-wracking, exciting, stressful, uncertain times in a person’s life. However, thanks to the internet and the many success stories we hear these days, we know that it’s possible for just about anybody to start a business and enjoy some level of success with it. Maybe you have your very own dream of starting a business. That’s incredible! But do you know what business to start?
You’re not alone if, like many others, you dream of being a successful entrepreneur but have no idea what your business is going to be. It’s possibly the most important thing you’ll ever make a decision on, so you need to get it right. This guide will help you if you’re going back and forth with ideas and seemingly getting nowhere.
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Get to Know Yourself
The first step is to know as much about yourself as possible. Grab a piece of paper and a pen — go on, do it now. Then, write ‘things about me’ at the top. Do it in big bubble writing if you want. Add a few doodles. Okay, that’s enough. Now it’s time to write about the things you love, the things you like to do, and the things you’re interested in. Write down anything that comes into your mind. Leave a little room though, as you also need to write down the things you’re not so confident with. What don’t you like doing? What aren’t you as good at? Make sure you don’t overthink anything.
Using your new list, think of around five (5) things that could make your personal life better. This could be your life as a pet owner, a parent, or an avid sports fan. Also take this time to figure out why you want to start a business, and what it is about what you’re doing now that you do not like. Use this to come up with as many ideas as you can. It’s up to you to figure out which one has the most momentum, and which one you’ll likely want to see through to completion.
Everything was once just a simple idea, and many entrepreneurs felt exactly the way you do now. Lost. Confused. Wondering whether it can really work. But you know what? They just went ahead and did it anyway! You need to do the same. Remember, it’s about starting something, and not necessarily ‘the right thing’. Want to know a secret? You probably won’t get it right the first time. But starting is the key to any kind of success.
When You’ve Landed on an Idea
Once you’ve come up with an idea that you have an interest in and you feel fairly excited about, it’s time to get things moving. You can accelerate your project development with a start up app designed to fast track your idea. It’s also going to be a good idea to look into things like funding. Will you use peer to peer lending, angel investors, or your own cash? Take small steps each day and you’ll end up where you’re supposed to be.
Remember, once you have your business idea, there’s no real ‘bad time’ to start a business. People have money and they want to spend it, and if you have a good idea, your target audience will want to give it to you. Get started; take a leap!
Entrepreneurs are creative by nature. However, there are things you can do if you have an entrepreneurial spirit, but are failing to come up with any incredible ideas. If you want to turn into a more creative person who comes up with ideas like a machine, these ideas can help you:
Treat Life Like a Creative Exercise
Treat your entire life like a creative exercise. How can you show the most creativity and enthusiasm in whatever you’re doing right now? It might be cleaning the house, writing a social media bio, or shopping for a new dress. Have fun with life and expand your imagination as you do so.
Some of the most successful people in the world claim that spending time in nature helps them to focus and become more creative. It might sound a little crazy, but some people believe that their ideas actually come from the plants and natural elements around them! Regardless of what you believe, simply walking in nature can actually have a positive impact on your creative thinking process.
Spend Time in the Right Environment
Create the perfect environment for you to get creative in. Make sure you include the right lighting, noise levels, scents, motivational pictures, and anything else that could inspire you. You might find that using things like aromatherapy in your environment, and playing nature sounds help you to concentrate. Others might be at their best creative selves when listening to Katia Beauchamp rock ‘n’ roll!
Hopefully, these ideas have inspired you. The influencers below have some great tips and insight for you too.
Take a look!
Infographic Credit: Red Stag Fulfillment