(This is a contributed post)
Whether you already run a business, are about to start one, or are simply toying with the idea of starting one, you’ll know that business is a bit of a complicated thing with lots of moving parts and areas to consider, but the thing that’s important to remember is that business really doesn’t have to be that complicated – most people just choose to make it so.
They look at trying to get everything figured out all at once and focus on things they don’t really need to be focusing on when in the beginning they should really just be looking at how to bring in clients and make sure they can deliver a good experience to those clients.
However, this certainly doesn’t mean that there aren’t important things that should be considered when starting a business, so in this post we’re going to share with you 4 of the main questions all business owners ask themselves, and we’ll also help you consider when or if these will apply to your business.
Do I need insurance?:
Just like in many areas of life, insurance serves as a safety net and a means to protect us, our families, and belongings from various things, but when it comes to business, many people overlook this and don’t think of insurance right away – that’s usually until they find themselves in a situation where they need it, and then they start asking if they need insurance. The problem with that is that once you need it, is when it’s too late to get it, so yes the answer is that even if you’re running a business from home, you should start searching for some business insurance brokers and get yourself and your business covered because business is unpredictable, and you never know when you’re going to need it.
Should I use a company name or my own name?:
This is one of the very first questions people starting out in business ask, and it’s a valid question, but the answer is – it really doesn’t matter, and it’s entirely up to you what you call your business. The thing to consider is, if you’re going to be setting up a business that you want to run as a personal brand, then having your name makes sense, but this doesn’t mean you can’t use your name if you don’t want to run a personal brand. Think of Walt Disney, for example. It’s one of the biggest corporations in the world, it’s the name of the person behind the company, but was never run as a personal brand.
Should I register a company?:
One of the other things that people find themselves wondering about is whether or not they need to register a company or if they can just work as a freelancer or on a self-employed basis, and again this is something that’s really not necessary to be thinking about from the beginning if it’s just going to be you and you’re not doing something like opening a physical location or something like an agency.