Hasn’t the world changed drastically since 2020? The world of business has suffered probably the most violent shake up for years, possibly since WWII. Many businesses have shut down, leading to unemployment, but some people have started their own business. The pandemic and lockdown have been very painful and truly catastrophic. We’ve all had to endure much but many of us have shown resilience.
Rather than sit ‘n’ mope, we’ve chosen to be resilient, innovative even. We’ve taken the chance to do things like declutter, decorate, start a course, finish projects and draft a business plan. Some former employees are now embracing the idea of being their own boss and starting their own business. And why not? There are many opportunities out there.
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 plan 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. It’s your dream. Not necessarily a partner, a friend or family member – they might take a more emotional approach which leads to negativity. Talk to people who run their own businesses 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 by way of a written contract or agreement.
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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