Unlock the Power of Digital Signature Legitimateness for Small Businesses in United Kingdom

How to eSign a document: digital signature legitimateness for small businesses in United Kingdom

hey guys do you know that over half a million businesses are registered here in the UK every single year well today I'm going to be sharing with you some of the key things you actually need to make sure you think about before you actually start that business to help you make sure that it is a successful as you actually want it to be now the very first point you need to understand before you actually launch your business is the fact that you need to understand your why okay why do you want to start this business what is your reason your reason might be perhaps because you want to make more money you want to be able to you know choose the relationships the kind of work in relationships that you establish or it might be the fact that you want to have more time for families and friends for a lot of people their why might also be because they want to have that flexibility when it comes to working as their preferred location okay so your why is very very important and I think that before you actually launched that business it's very important for you to think about the reason as to why you are doing this because when the tough moments in your business actually comes up ultimately your why is going to be one of the biggest factors that will actually help to push you on when you come to those stumbling blocks in your business now the next Factor you need to consider is your risk tolerance yes starting a business actually comes with its own risk Believe It or Not depending on what business it is you're planning to launch some business ideas will carry way more risk than other business ideas for instance a business you know doing construction for instance will carry a whole lot more risk than a business you know doing things like knits and dresses or sewing dresses so it's important for you to factor in what exactly the amount of risk it is you're going to be carrying on as a business owner will be if you're actually looking to launch a particular business another thing you want to think about is are you looking for another job or are you actually looking to start a business because a lot of people when they're starting their businesses actually don't realize that you have to have a different kind of attitude a different kind of mentality coming forward when you are a business owner now a lot of people don't realize that the attitude and mentality that you carry forward as a business owner is definitely different to that as an employee and if you're not careful you might actually be applying the employee mindset to your business and trust me you definitely don't want to do that because doing this can be one of the easiest ways for you to actually fall into the pitfall and actually fail in your first year of starting your business other things you want to bear in mind is considering the stability of a nine to five versus the instability or rather the fluctuations that come about with actually starting a business another thing you might want to bear in mind is the fact that do you actually have a backup plan okay if this business doesn't go ing to plan do you have something else to fall back on that you would actually be able to sustain your lifestyle with when you're starting a business it is incredibly time consuming particularly in the early years of launching your business idea I remember when I started my accountancy business it was actually very very intense okay and years on I am now actually in the state where I'm able to actually work a couple of hours a week and find that perfect work life balance but at the very start of actually starting your business it can be extremely difficult to know how to navigate and how to actually manage your time because let's face it as a business owner your responsible for wearing so many different hats you're responsible for marketing probably Finance advertising there's so many things that a new business owner usually has to be involved with and take responsibility of particularly at the start so it's important that you're aware of just how mentally tasking starting a new business can be and asking yourself are you prepared for this are you prepared for the fluctuations in your business activities that may happen are you prepared for you know the seasonal cash flow variations that may happen when it comes to actually starting your own business the next one to consider is do you have enough resources are you actually ready to start a business do you have the capital required or your startup costs in place ideally do you have a business plan that you've actually set up that you are going to follow and what does your business plan actually say about the financial viability of this business that you are looking to start in most cases a lot of people will usually need finances of some amounts to actually get their business up and running this can come from maybe friends and families relatives or sometimes it can come in the form of a startup loan or even through your personal savings but it's important to actually ask yourself do you have enough funding in place to fund your business till it gets to the point of actually being viable as a business on its own so at this point you want to make sure that you're reviewing your cash flow projections for the business obviously you would have done this as part of setting up your business plan for this business that you are looking to launch so one thing you definitely want to do is to review what your cash flow projections are looking like obviously you may have done this as part of your business plan already so it's best to obviously review those figures and see what the viability of that business idea looks like before then going on to the next step the next point you want to think about is characteristics a lot of businesses that fail in the first year usually it's due to the fact that business owners that are launching those businesses don't have the right characteristics in place to actually make it through the first couple of years of business difficulties until they actually reach the point at which the business is successful so you need to be asking yourself that are you determined enough to see this business through in the first years are you actually willing to commit the time the effort and the disciplined enough to actually stay and sustain this business for the next three to five years okay because on average it will take a new business at least three to five years before you actually see whether or not it is profitable and it is worthwhile the first years of your business it's very important that you are able to actually pivot and think creatively when it comes to problem solving they're going to be so many things that you're gonna have to deal with as a new business owners and some of these things you may not have had the experience before but it's important for you to actually be able to think outside the box a lot of successful business owners usually have the discipline the motivation you know to actually push through difficult phases in their business so if you're looking to actually start a new business this is one of the key points that you need to be ensuring that you have actually thought through okay are my disciplined enough to see my business through its difficult stages do I have the ability to think creatively when new problems arise do I know who to go to when problems arise do I know what type of research I will need to carry out to find out the things that I may need to know as a business owner but I might not actually be sure about that it's important to understand that it's not every problem that actually comes up in a business that you would have seen before but you do need to have problem solving abilities to actually enable you push through the first couple of years of starting your new business hopefully this video has provided you some useful things to think about before you actually start your business okay do make sure you grab a copy of my smart startup checklist which you can find the link to down in the description box below and also paint in the comments section down below if you haven't done so already please do make sure you give this video a thumbs up make sure to hit the Subscribe button and turn on your notification Bell I will see you in my next video