Starting out in business for yourself? Congratulations.
Small business, and businesses that were once small
, form the tapestry of our economy.
I’ve run my own small business for 36 years and my favorite clients in my business are other small business people.
But, in the euphoria and exhaustion of starting up, don’t put off doing the dull basics of bigger businesses. Those basics are basic for a reason.
Form habits and routines from the very beginning that will serve your business well as it grows.
Four utterly non-sexy imperatives form the foundation of a small business.
Document the deal
Whether you are partnering up with another entrepreneur or engaging someone to create stuff for your business, put your deal in writing.
In the best of all possible worlds, you get a lawyer’ s help. A lawyer can see if the agreement is complete, that it covers all the important issues, and is without ambiguity.
More on whether your contract is legal
But even if you are doing it yourself, the act of writing down what the two of you agree on improves the odds that there is a true meeting-of-the-minds and that you really do share the assumptions about how the business deal goes forward.
Make it legal
Find out about the laws that cover what you’re doing.