Hasn’t the world changed drastically in the last few months? The world of business has suffered probably the most violent shake up for years, possibly since WWII. People have lost their businesses but many have started their own business. The pandemic and lockdown has been a very painful and truly catastrophic phase we’ve all had to endure.
Quite a few professionals have lost their jobs but have taken the opportunity, not to sit and digest the shock – sit ‘n’ mope – but to go on that venture they’ve been thinking about for a long time. The lockdown has been frustrating and suffocating but it has given many the opportunity to declutter, decorate, start a course, finish projects or start a business.
Resilience prevails and adaptability conquers all. Adopt adaptability and you’ll overcome most, if not all obstacles. Go and venture out into the world of business, whilst you have the opportunity and time to start something new, something great. If business is what will keep you busy during these unprecedented times, then fantastic! You are helping build up the economy as you begin to set up your business.
Our advice is: draft a plan for your business. Whatever is on your mind, put it down on paper. It’s just a draft, not what you’re going to take to the bank or a business lawyer. Just a draft – words or graphics will do. Discuss it with people you can trust with your dream. Not necessarily a partner, a friend or family member – your dream isn’t theirs. Speak to someone who runs their own business and continue to grow your idea on paper – your business plan.
Know how to get your point across without revealing too much about your business plans. Don’t take people at face value – this is your first lesson in business. You need to learn to be people smart. Grow your network and explore your idea, without giving too much away, so no one adopts your idea as their own.
Business mentors, accountants, solicitors, an administrator, landlords, anyone you may need to help get your venture off the ground, will all need an agreement. Not just a handshake agreement but a legally binding document. You must always document any handshake agreements.
If you are starting a business and have a plan on paper, please give us a call and we’ll help you through the initial set up of your business. We’ll help you with your plan and will draft business agreements with your partner, suppliers and anyone you will need in order to run your business. SG
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