BUSINESS CAN’T ALWAYS BE EXCITING – ACCEPT THE MUNDANE

When you run your own business, you need to be passionate about it, you need to love what you do. But not every day will be exciting, there's a fair amount of the mundane in there too. It's this mundane that keeps your business ticking along, keeps it legal & keeps it afloat.

 

The mundane can be:

Accounts - keeping your books & records up to date is essential. How else will you know how you are doing? If cash is good, bad or indifferent. If customers are paying on time or taking the mickey. If you are paying suppliers too fast or too slow. Knowing the numbers allows you to make informed decisions.

Legals - this can be trademarks, IP, copyright, design protection, employee contracts etc. Having the right legal protection in place at the right time can save massive headaches later on if you get a cease & desist letter or an unhappy ex-employee.

Strategy planning - this can be exciting when it's the high-level plan stage but putting substance behind the ideas is the hard part. You need to check the ideas add up & will be profitable and that you aren't infringing anyone else’s copyright.

Future proofing - or rainy-day planning. Basically, if all your customers disappeared overnight what would you do? How would you react? How long would the cash last?

 

So, don't ignore the mundane, it's often the backbone of good business, but it can also be hard & technical so get the help you need.