5 common mistakes that could kill your business before you've even started
TRANSCRIPT
common mistakes that could kill your business
BEFORE YOU’VE EVEN STARTED
5
1SHAREHOLDERS
AGREEMENT
Even if you’re great friends with your founders...
... it’s a pretty bad idea not to have a shareholders agreement!
Having a solid agreement may save those friendships
later down the line...
You never know what may happen!
2EMPLOYMENT
GUIDELINES
Outline what you expect from your staff and the procedures for any disciplinary action...
If you don’t have one in place there will be nothing to fall back on in case of a dispute.
3DOING EVERYTHING
YOURSELF
Don’t do it!!!
Founders and CEO’s often get bogged down
minutiae...
...when they should be focussing on the
big picture.
This can be dangerous in so many ways as...
They cobble together documentation drawn from internet research or free templates
that is not legally sound
They become disillusioned because they’re
not doing what they’re good at
They become worried they’re not doing the admin correctly
Using experts doesn’t have to be expensive
You should use people that know what they’re doing to ensure you don’t have to worry.
We use Geniac, who do everything from accounting to legal compliance
so you can focus on what you’re good at...
Find out more
Growing your business!
4UNAWARE OF LEGAL
OBLIGATIONS
Terms and Conditions or Private Policies on websites
are often not done well!
Depending on your business, if you store
data of any kind...
...you need to be registered with...
the Information Commissioner’s Office or this could void your cyber liability insurance and put you in breach of
the Data Protection Act.
5NOT GETTING INSURANCE
Finally, if you don’t sort out insurance...
this means that any accident in the workplace or during
activities carried out for work,
is not covered
Workplace accidents may be the last thing on your mind,
but for just a small fee a month you can
get this covered
Taking care of the small things, or the ”boring” parts of your business are
hugely important
and will have a lasting impact on your company
You don’t need to do these things yourselves, or hire more people into
your company
Use experts instead
and concentrate on the reason you started up
in the first place
Find out more