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The Value Of Legal Protection For A New Business

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StrategyDriven Risk Management Article |Legal Protection|The Value Of Legal Protection For A New BusinessAs an entrepreneur who has just taken off with a dream venture, startup growth is bound to be your top priority. You will want to stabilize your business early with the right steps at the right time. Arranging funds will be on top of your checklist, while you will also want to go the extra mile to secure the top talent in the industry. There is much more on a typical startup checklist, such as market research, product launch and promotional strategies, customer experiences management, and compliance.

With such a lot of work at hand, it is easy for entrepreneurs to overlook the legal aspects of running the startup. But it is the worst you can do because going slack with legal protection can land your business in deep trouble. It becomes all the more vital at the initial stage because the assurance of being on the right side of the law lets you focus only on growth. Let us highlight the value of legal protection for new businesses.

Good relationships with founders are vital

Most entrepreneurs cannot embark on the journey alone. It makes sense to collaborate with co-founders and partners to share risks and get support at the early stage. You also need to ensure good relationships with partners so that they stick with you for the long haul. Even if they want to part ways, they must do it amicably. Legal advice about founder contracts and agreements keeps your business in a safe place. The right language and clauses in the contract prevent misunderstandings and disputes with partners down the line.

Protection of intellectual property is essential

New businesses often sell unique ideas and products, which need to be copyrighted. You will also want to protect your brand logo and marketing collateral from infringement. Protection of intellectual property is not a choice for startups because losing it can take away your competitive advantage. Fortunately, the apt legal steps can help you safeguard these assets from competitors. Trademarks, patents, and copyrights protect your branding assets. You can go the extra mile with non-disclosure agreements with employees and contractors and confidentiality contracts with third parties.

Lawsuits can happen to any business

Another reason to prioritize legal protection at this stage is that the last thing you will want to encounter is a lawsuit. It can be expensive and cause reputational damage. Unfortunately, lawsuits can happen to any business these days. Slips and falls are common on business premises, while you may also come across a defective or dangerous product lawsuit. The risk runs high if you let your employees drive company vehicles. They may have an accident with a pedestrian or another driver and injure them. The victim can seek help from personal injury attorneys to file a massive compensation claim against your company. It is best to have legal guidance from an expert to handle such lawsuits or even avoid them through settlements.

Employee disputes can be a hassle

Startups need to steer clear of employee disputes too, but it is easier said than done. Multiple issues can cause a problem with your workforce. However, it is possible to secure your business against employee lawsuits if you have proper employment contracts at the time of hiring. Ensure that they have clauses related to leaves, appraisal, and termination so that there are no chances of disputes later. Also, cover contingencies like workplace injuries, occupational safety, and office harassment to stay on the right side of the law. Proper provisions for the employees will also enhance your reputation as an employer and boost employee retention in the long run.

Client disputes need to be handled

When you lack real-world business experiences, it is easy to get into trouble with contract disputes with clients, suppliers, and vendors. You may even face lawsuits without an intentional mistake or due to sheer lack of awareness. Clients may sue you for delays in delivery, while vendors and suppliers can bring claims for missed payments and deadlines. A focus on legal protection with clear and comprehensive contracts can provide significant coverage from such lawsuits. It is best to have your contracts drafted and checked by legal experts before you sign them.

Entrepreneurs need to focus on legal protection for their new business. While you must pay attention to other aspects of running the company, ignoring contracts and legal loopholes isn’t the right approach. Hiring a lawyer to handle these matters gives you peace of mind because they will have the right advice to safeguard your business from lawsuits in the first place. Even if someone files a suit, your lawyer will represent you and fight it out.

How to Hire the Right Person for Your Business Every Time

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StrategyDriven Talent Management Article |Candidates|How to Hire the Right Person for Your Business Every TimeHiring the right people for the positions you need to fill is one of the most important and fundamental aspects of running a successful business. If you’re going to get to where you want your business to be and you’re going to ensure your business finds the long-term success you want for it, you’re going to need the right people on board.

If you’re about to go on a hiring spree and you want to make sure you hire the right people every time, we’re here to assist you with that. It’s more than possible to hire good people and not have any regrets about your hires later, as long as you approach the hiring process in the right way.

That’s what we’re going to talk about in more depth today, so if you want to find out what it takes to hire great professionals and find the right person for your business every time you make a hire, read on now and benefit from the insight offered below.

Make Sure All Candidates Under Consideration Are Properly Vetted

Before any other steps are taken, you should make sure that your candidates are properly vetted before they’re taken forward to the next stage of the process. If someone has something in their past that would suggest they’re not a good person to hire, you want to find out about that and rule them out of the running for the job at the soonest possible opportunity. Making sure all of your candidates are properly vetted and that they’re appropriate as a person for your company shouldn’t be overlooked.

Don’t Place a Focus Only on the Past

Placing a focus on the past is important to an extent, as we’ve already expressed above. But that doesn’t mean that you should fret over a person’s past too much either. It’s all too tempted to judge a candidate based on the list of things that they’ve got on their CV. But that’s not the way to do this. You should instead look at them as a person and try to find out what they might be able to offer in the future rather than focusing on what they’ve done in the past. After all, their future is what matters most here.

Understand the Interview Isn’t Everything

Understanding that your business can’t possibly get a clear picture of a person solely from the conventional interview process is key. There’s only so much an interview can tell you. Sure, they’re valuable, but in the conventional sense, they might not tell you a whole lot more than the fact that a person is good or maybe not so good at interviewing. And you’re probably not looking to hire a good interviewer. So try to dig a little deeper than that and understand that the interview process alone is not the be all and end all.

Get Various Perspectives from Within the Team

When hiring, you should try to gain a range of perspective on candidates and what’s needed from a range of different people from within the company. It’s not just the managers who should have a say on who the right person for the role might be. Also think about the people who the new hire is going to be working most closely with from day to day. Doing that will give you insight into what it really is you should be looking for. And gaining more insights and opinions is never a bad thing.

Listen to the Questions They Ask

Listening to the questions that your candidates ask you is something that can tell you a lot about them as individuals and what they might be able to offer your business moving forward. If they ask a lot about the business, its future and how they might be a part of that growth, it’ll already tell you a lot about their drive and motivations. That sort of stuff is really important and certainly shouldn’t be overlooked. The questions they ask are just as important as they answers they provide to your questions.

Ensure They Fit with the Culture of the Business

The culture and wider ethos of your business should inform you of where you should be looking to hire and what kind of person you want to bring on board. If, during the hiring process, you get the impression that the candidates you’re talking to simply don’t represent a good fit with your business and the culture that it embodies, that’s a sure sign that you should probably be looking elsewhere in terms of who you’re looking to hire. Culture is important and you can’t allow it to be derailed by the wrong kinds of hires.

Use Employee Assessment Tests

Using employment tests is a good idea if you want to get more insight into the people you’re looking to hire. As we mentioned above, the interview process alone often isn’t enough and it makes sense to do your best to gain greater and deeper insights into the people you’re considering bringing on board. There are all kinds of employee assessment tests depending on what it is you’re looking to achieve and what you’re looking for from candidates. So be sure to do your own research and find the employment tests that you feel might be right for you.

Ask Them About Their Own Perceived Weaknesses

Asking them about their own weaknesses can tell you a lot about a candidate. It should tell you a lot about how they see themselves and how willing they are to make improvements and how keen they are to learn from experiences. You ideally want to hire people who can understand and perceive their own flaws because that’s something we all need to do from time to time. So see what kind of answers you get and what this might tell you about a particular individual.

Listen to Your Gut

Listening to your gut reaction and your instincts regarding potential hires is often a good thing. Of course, this can’t tell you everything and you shouldn’t base your entire hiring decisions on an instinctive feeling that you get. But if something doesn’t feel right and it doesn’t seem like a good idea to you, there’s nothing wrong with listening to what you’re feeling. Stepping back and looking at things in the most objective way possible is important, but if you’re not getting good signals, think again.

Look for a Commitment to Their Own Development

Looking for commitment to their own growth and development is always a good idea. This is a good trait for your employees to have and it’s definitely something that you should be looking for if you want to hire people who are really going to help your business grow because they’ll be looking to grow and improve too. A person who wants to grow is a person who is driven and wants to make the most of their career, which is always beneficial to the business that they’re working for.

Seek Out Good Learning Skills

Seeking out good learning skills and people who know how to take on new knowledge and information in an efficient way is a good idea. This is something that’s going to be particularly important if you want to hire people who are at an entry level position and who are going to need to learn while on the job and pick up new things. A willingness to learn is a positive thing no matter how much experience a person has because none of us can know it all.

Ensure Your Job Listings and Descriptions Offer Clarity

The job listing you put up is going to need to offer real clarity and the right information if you want to ensure you get the right kinds of people applying for these roles. If you put up a poor listing with a job description that lacks details or relevant information, you really only have yourself to blame when you get a bunch of inappropriate candidates submitting applications. So take your time crafting your job listings and offer as much detail in your requirements as you can.

Get to Know Them from a Personal Perspective a Little

Getting to know people in a personal way and seeing them from that kind of perspective is something that can be highly valuable during the hiring process. When you can see what their skills are and how their professional lives interact with their personal selves, it can tell you a lot about who you’re hiring and whether they really are the right for the business and what you’re trying to achieve with it moving forward.

With all of that in mind, be sure to hone your recruitment process in a way that’s going to yield the best outcomes for you and the people you ultimately hire. After all, it’s in everyone’s best interests for you to hire professionals who are going to turn out to be the right fit and a good match all round.

Creating an Efficient and Productive Workplace

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StrategyDriven Managing Your People Article |Productive Workplace|Creating an Efficient and Productive WorkplaceWhether you are a new start-up creating a new workplace or you are an established business going for a workspace overhaul, you will want to ensure that you get your space right. The correct layout, lighting and furniture can have more of an impact on staff than you might think. Most importantly how your space is laid out and how it functions can and will affect your productivity. If workspaces are cluttered and clumsy then your workflow will not be as smooth. So, before you go out buying items for your space you need to think about what you need to get from your workspace and you need to think about what it must include.

The Purpose of Your Workspace

How will your space be used and what will you use it for? Are you setting up a sales office or are you setting up a sales and production workplace. Will you have customers visiting or will it just be yourself and possibly staff using the location. If you know how you will be using your space then you can create a plan. If, for example, you are setting up a workspace for just yourself and staff then you know that you need to focus on good quality ergonomic chairs and furniture, a space to unwind (featuring a couple of sofas and comfy chairs) and a place to prepare food and drink. If on the other hand you are welcoming customers and clients you will need to focus more on the design element. You will have to create a workspace that is in line with your brand and in line with your customer expectations. From colors to branding – it all matters.

Create a Mood board and Design board

To help collate all of your ideas and thoughts, you need to put together ideas and design boards. These boards will help you see and visualize the space a bit better. On your boards you should incorporate all of the ideas and colors that you would like to have. When you put together boards you get to see firsthand what is working and what is not. A productive and efficient workspace needs to be one that is highly functional. On your design board you can ensure that you are only using items that are functional yet stylish. Items that serve no use or function may look good, but you will find they end up being a waste of space and money later down the line.

Lighting and Ambience

The feel and ambience you create within your workplace says a lot about your brand and about your business. Creating a bright and pleasant working atmosphere that also ensures you stick to workplace lighting regulations is possible and achievable. Whether you go for warm colored and modern-feel lighting or you go for daylight lighting you will want to be consistent and you will want to be as energy efficient as possible. When looking for and buying lighting fixtures consider how they will fit in with your design or scheme and also ensure that they are easy to clean and maintain.

Desks and Office Furniture

Will you be going for sleek individual desks or are you looking to create closed cubicles and workstations. If you are reliant on teams and individuals working together then you need spaces that they can come and sit together. Office furniture needs to be of high quality as it will see more use and wear than your standard home furniture. It will also need to be easy to clean, maintain and repair. Having every piece of furniture built in looks clean and tidy but it can be disastrous to locate and fix problems when they arise, so keep things simple yet effective.

The Flow and Feel of a Workspace

Ultimately, how a workspace flows and feels will affect everyone and anyone that uses it, so it is important to invest time and effort into getting it right. A productive environment can be a profitable environment. You want to create a workspace that you, visitors and employees enjoy being in. Size and shape matter and even the smallest of workplaces can be efficient yet well designed. If your space is an odd shape then keep furniture simple and small, large pieces look cluttered and out of place. Do not forget that if you require any inspiration for color schemes then you can use the services of a designer. Getting the flow and feel of a workspace right is highly achievable with time, effort and a workable budget.

Ready To Launch Your Startup? Here’s How To Acquire Enough Capital

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StrategyDriven Starting Your Business Article | Ready To Launch Your Startup? Here's How To Acquire Enough CapitalEntrepreneurs have a dream. The path to success is more than a standout idea. It’s also centered around finding the right encouragement to make it happen. With a team of financial backers (and a great deal of hard work), a business has the potential to produce, promote and profit. Before hitting stores with an idea or expanding a venture, ensure that the bank account is flush enough to make promises happen. To garner funds to get your company off the ground, be prepared to put in a lot of effort. The following are four key points to obtaining enough financial support.

Rely on Expert Advice

Before speaking with possible investors, discuss ideas with a professional. Financial experts such as Charles McKenna Rial are aware of best practices and available lenders. Sit down, and ask about how you should proceed. Prepare a list of questions, discuss multiple options and rehearse your pitches. Also, rely on guidance for which avenues are more lucrative for you. These specialists could put you on a solid path to gaining fiscal strength.

During the meeting, listen to your advisor. Be clear about how much funding you currently have. If your product is already in a small market, ask about how to seek additional patronage. It’s important to understand the risks associated with the possible choices. For instance, owners may choose to take out a credit card to cover costs; this decision, however, impacts credit scores. Failure to pay bills on time could lower that number. Other options might avoid harming personal credit history. Be clear about what risks you are willing to take.

Prepare a Researched Prospectus

Capitalists don’t just throw money at companies. These experts require information to validate an investment. Spend time writing a business plan. Then, share this document with interested parties. This isn’t a time for less is more. Use this opportunity to showcase your knowledge and potential.

With the advisor’s assistance, tailor your proposal to suit the format and demands of investors. Begin with your company motto and describe how you created the idea and put it into practice. Note who is in charge, who has made the decisions and why these key ideas were adopted. Follow this up with detailed numbers and research about your merchandise and the marketplace. The following are essential to validate your request:

  • How much profit have you already earned?
  • How much does it cost to produce the item or items?
  • How do you know there is a market (or expandable market) for this concept?
  • Who is your competition?
  • Who is likely to purchase the product?
  • Why is your product different and better?

For each of these points, be as specific as possible. Provide data. Visual graphs and accounting figures are also a must. Send out copies of the report before the meeting occurs.

Remain Confident and Practical

The write-up is the first step. That paper opens the door. Your presentation sells the idea. Investors desire entrepreneurs to prove that they have the guts, common sense and dedication to follow through with the plan. Be prepared to pitch the concept and interact with capitalists, demonstrating confidence, honesty and knowledge. Practice your delivery, avoiding hesitations and showing energy. Anticipate concerns and questions, and be ready to respond with answers.

During a meeting, don’t hesitate. Nervousness could come across as weaknesses. It’s important to remain calm, professional and humble. How does this happen? Have faith that the product is going to make it, but be open to considering opinions and potential small changes. Also, focus on taking reasonable steps. Shooting too high too quickly isn’t levelheaded.

Consider Multiple Financial Avenues

Remember that there is more than one path to finding funds. Your advisor is likely to introduce several possibilities. You may combine several of them to find enough money. Crowdsourcing, for example, has become popular. Post a request for donations on an online site. People from all over the world have the ability to give what they can. In addition, grants and contests are avenues that don’t require payments. Search for various programs for which your may qualify.

For larger amounts, you may require aid that demands payback. Angel investors are people who have available capital and are accredited. They look for prospective operations that could make them funds. These business leaders supply backing for a hold or equity in the company. Venture capitalists are another possibility. Unlike angels, this donation comes from a person or firm that uses funding from corporations or pensions.

Apply for bank business loans. Interest applies, so expect to be able to make not only what you owe but a bit more.

Economic success begins with a concept fostered with financial support. Your startup deserves a fighting chance. Lay a solid foundation by working with specialists to craft a thorough prospectus and convince lenders you are a risk worth taking.

What is Productivity Software?

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StrategyDriven Managing Your People Article | What is Productivity Software?Productivity is something that we could all use more of, with the right productivity software you can really amp up your production and make a big difference in the way our world works. Xtivity is a great productivity software that can make a big difference in your overall business.

What is Productivity Software?

Productivity software was designed to help make every day productivity greater and to help make a difference in the way that you do things around any worksite or business. Productivity software can be for things like helping to manage products, helping to manage purchasing, managing payroll and more.

It can also help with MRO. MRO stands for maintenance, repair and operations and a software like Xtivity is a great option that can truly help you to streamline your every day. Making sure that you are doing all you can to up your productivity, working to figure out exactly what works for you is a must.

Productivity software is not something that you absolutely have to have but it can make a big difference in your day to day and in how you go about doing menial tasks and completing your work.

Do You Need Productivity Software?

Not all companies are going to need a huge range of productivity software, but most are going to be able to benefit from them in some way.  Productivity software can help you to get the right overall boost in operations and can give you the ability to do what you need to do and to focus on other things and to go ahead and focus on other options and on other areas of concern. Productivity software is something that anyone can use, that can work well with any business and that can help make any business run better and run easier overall.

There are tons of different productivity software options out there and you truly can find a great range of different options that are going to work for you and your company. With the help of great productivity software you can refocus your efforts, get the right software for your needs, and make sure that there is not any difficulty in the overall use of this software.

If you feel that you might be falling behind because you are focusing so much on things that could be automated, productivity software is a good choice that can make a difference in your day to day work and in how you do things overall.