Learning from big business

There are useful lessons we can learn from conventional big business.

Risk management. Is your critical stuff backed up? Off site? If your main place of business burns down (or your work computer dies), how quickly can your business be back on it’s feet? One hour? One week?

Compliance. Is your paperwork up to date? The cost (fines, effort, stress) to compliance failure can be hard for a smaller business to absorb. There are many small rules and regulations you may not be aware of. Do you need a license to hand out brochures in your local train station? Can you use that photo of the Sydney harbour Bridge on your website? Do you need a permit to hold that online lucky draw?

Outsourcing. Is there something you need to do for work that you always put off? Get someone else to do it! Outsourcing can save you angst and let you focus more on doing the stuff you enjoy doing! Your business is meant to enable your life.

In writing. Starting a habit of summarising conversations and agreements in short emails can go a long way towards resolving the inevitable misunderstandings. Being anal about covering your arse (!) is boring. But a practice of clearly stating things that were discussed is invaluable when it comes to success collaborations.

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