Huffington Post: Between Business Failure and Success

BY LAW SQUARED

Having started a number of businesses (some wins, some losses), our founder Demetrio Zema was recently interviewed by the Huffington Post to discuss the difference between business success and failure. With only 1 in 20 Australian start-ups becoming a success, having the right legal advisor and support is integral in ensuring your business (and yourself) are protected and provided with the right opportunity to succeed.

Demetrio shares 5 very simple tips any entrepreneur can implement to avoid becoming another statistical failure:

1) Have the right business structure and set up

Failing to choose an appropriate structure from the outset can impact your business’ growth plans and goals and your risk and liability exposure.

2) Be employee ready

Hiring employees is both a challenging and integral part of business. Many businesses fail to adequately prepare for employees and fail to ensure they comply with employment law intricacies.

3) Have clear and concise legal contracts and documents

A document that accurately reflects the intentions of the parties is worth the paper it is written on.

4) Protect your brand and its identity

Creating a name, logo, brand and identity in a business is critical to its success, yet often businesses fail to protect their identity.

5) Have insurance and the right levels of cover

There is no point paying a premium for a policy that doesn’t cover or protect you and your business.

For more details, see the full story at the Huffington Post.