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“Getting things accomplished isn't nearly as important as taking time for love.” - Janette Oke
No man is an island therefore your hopes, dreams, ambitions and goals should be shared with your loved ones and they need to give you support and understanding required for success.
Starting a business is always challenging, it is at times stressful and it can take up a very large part of your life. If you explain what you’re doing and why you’re doing it to your loved ones they will give you time, love and support you need to succeed.
At same time it is critical that you do not lose your perspective and fail to take time necessary to love and care for your family. All too often you hear tired and stressed out businessmen and women complaining of a lack of spousal understanding, whining that they are working so hard directly for benefit of said spouse – this creates disharmony and acrimony on both sides – what a waste of a great life!
Get everything in perspective and keep everything in perspective at all times, and bring your family and friends on board for guaranteed success.
5) Protect What’s Important “Happy is man who can endure highest and lowest fortune. He who has endured such vicissitudes with equanimity has deprived misfortune of its power.” - Seneca
To further deprive misfortune of its power you can put in place various insurance policies to protect yourself, your family, your current situation and your business from undue risk. Because there are no two ways about it, starting out on your own is a risky business – focus on success of your business and follow these six steps and you will achieve all you want to. And in interim protect what’s important to you – for example, think long and hard before mortgaging your family home to fund your company! Get business and personal indemnity insurance in place, make sure health and life insurance policies are in place protecting you, your family and any key employees.
But - don’t get hung up on this point because worrying unduly about risk will blinker your vision. Deal with this point and move on!
6) Face The Enemy - Deal Directly With Accountants & Lawyers
“Money is plentiful for those who understand simple laws which govern its acquisition.” - George Clason
Every single business has to act within laws of countries it operates in and deals with and every single business has certain reporting and taxation requirements. These are definite hurdles designed to restrict visionary, but they are necessary hurdles to protect a company’s consumers, a business’ partners and a country’s economy.
Take time to establish a good working relationship with your company’s accountant and lawyer. Make sure your company is properly structured from start and that you fully understand and adhere to taxation and reporting deadlines and rules.
Know what is expected of you, understand why it’s important to follow rules and structures that have been put in place and have a system to deal with tax returns, pay runs, company disclosure and contract negotiations and remember: -
“Taxes are not good things, but if you want services, somebody's got to pay for them so they're a necessary evil.” - Michael Bloomberg
Use these six steps as guide towards your business success and always strive to keep your vision alive because “vision is perhaps our greatest strength…it has kept us alive to power and continuity of thought through centuries, it makes us peer into future and lends shape to unknown.” - Li Ka Shing
Rhiannon Williamson is the co-creator of Shelter Offshore - an innovative and exciting company which is specialist in international real estate, the offshore financial world and starting a brand new life or business overseas for expatriates, international investors and anyone dreaming of escaping the rat race and living an unrestricted life to the full.