Starting your own business is not easy, and it requires a very long checklist of things to consider, buy, and figure out. The most important things that should be on the top of your list are things that will protect you the most so that you don’t lose the business that you have worked so hard to achieve. Keeping things legal and secure will save you a lot of headaches. Here is a list of a few things that should be at the top of your to-do list when starting your own business.
Protect Your Brand
As soon as you come up with that catchy name for your new business make sure you get to the job of registering and trademarking your name. You may think your original once-in-a-lifetime name is going to stop your industry in its tracks until you realize some other business has the same name. That other business won’t waste time in suing you for copyright infringement. Register your name, logo, and brand right away to prevent others from taking it from you or taking it back because they came up with it first.
Get a Great Lawyer
In the event that things go wrong, you are going to need a great legal team on your side to help you out of any legal bumps in the road. Chances are, these legal bumps are not going to be your fault, but you are going to have to defend yourself. Finding a great lawyer is best by word-of-mouth from other business owners or people you trust to steer you in the correct direction. Once you have a legal team in your corner you can concentrate on getting your business thriving and money into your bank account.
No one goes into business with the mindset that they are going to do something to harm someone. Accidents, mistakes, unforeseen events all happen without us knowing. Having general liability insurance protects you in the event that one of these errors occurs. Being fully covered from anything as far as falls, work not getting done on time, or anything else that may cause someone to want to sue you will save you money will save you worry, and will keep your business protected so that you can continue to work and continue to grow your wealth.
Apply For Licenses
To keep your business as legal and compliant as possible requires that you get licenses for your business. Make sure that you are fully registered and have all the certificates and documents you need to be able to open your doors. If you have a brick-and-mortar store, you are going to need to have several licenses on hand in the case that anyone from the government, city, or town shows up to make sure that your business is on the up and up. From tax IDs to certificates allowing you to conduct business in that space must be at the ready, up to date, and properly filed.