Choices choices choices… we make them every day. From the small choices (knowing what pair of shoes to put on) to the big choices (knowing where to invest our money), we come to a decision that will either serve us well or cause us to fall flat on our face (not literally, unless you chose the wrong pair of shoes from your closet). And so it is with business. There are some decisions you will regret – not doing research, ignoring the competition, spending too much money on useless tech – and other decisions that are almost guaranteed to lead you to success.
The following are the business decisions you will never regret.
- Go online
Now, your business may be entirely based around an online store, in which case this is a no-brainer. However, for those of you in any other kind of business, such as retail, you still need an online presence. This includes having a website to market your business, using social media to spread the word about your services, and having an alternative way to sell your product. Everybody is online these days so you must do the same.
- Hire people to work alongside you
You’re brilliant, we know! You probably have loads of skills that would put us to shame. But are you an expert in everything? Unlikely, so consider hiring others to help you improve your business. You may need somebody to work on your website, for example, or you may need somebody to help you with your marketing. Use headhunters to find the best people, or outsource areas of your business that you are weakest in. You will never regret the expertise that others can offer you.
- Have a lawyer on speed dial
You may never need legal help, but then again, you might! If a client refuses to pay up after you have sent them an invoice or some pesky business rival steals one of your ideas, you should always have somebody you can contact, just in case. Hopefully, you will never have to go to court, but a stern letter from your legal representative may put the frighteners on anybody trying to derail your business.
- Get an accountant
Some people are amazing with numbers, and they are able to budget their business needs effectively. Other people (this writer included) have little financial sense. If this is you, then you really should consider hiring an accountant. They will help you to balance your books each month, give you advice on where you can cut down on your spending, and perhaps most importantly of all when you’re in self-employment, help you to do your taxes at the end of the business year. To avoid a financial headache, hiring an accountant could be one of the best business decisions you will ever make.
Finally
From our experience, these business decisions are foolproof, and you will never regret them. Do you agree? Perhaps there are other decisions you consider important to mention for those of us starting out in business. If so, let us know and let us all benefit from your wisdom. Thanks for reading.
* This is a collaborative post and may contain affiliate links
[…] When thinking about hiring staff, it depends on how much work you have coming in each month, and what you can comfortably manage yourself. If you can do all that needs to be done, then don’t hire anybody. However, should you find yourself stretched, you will need help. For irregular tasks, it may make financial sense to outsource some of your tasks, as that will negate the need for bigger premises or staff salaries. On the other hand, if you are outsourcing tasks on a regular basis (and probably spending a small fortune), then it may be cheaper to hire people to work with you, as this may be one business decision you will never regret. […]
Amazing post.
These were really great tips, Jenny! I especially enjoyed the bit about having a lawyer on speed dial! They’re helpful when you get yourself into difficult situations along the way of your business.
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Pretty sound advice I think.
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