A good entrepreneur has nothing to hide – on the contrary. He knows his business well and many areas down to the last detail. He examines and analyses the market. Who wants to avoid striking at the right moment and bringing in the sales before the competitors?

A personal system helps, but self-knowledge is even more critical: what can I manage well, and if not, which tools can help me promptly develop the desired business area?

You always continue learning. Learning by doing is good. We recommend permanently aligning the goals with the company and strategically as well as temporally cleverly planning reflection time. A sparring partner who has already done something similar can be helpful. Likewise, in a personally specific association, you meet people who may not have to solve the same issues, but you meet interested people. With interested people, you find solutions.

Perhaps you have already subscribed to a newsletter. Anyone who subscribes to a newsletter knows their contact details are collected and may be used for marketing purposes. The routers of the private sector providers also contain data from us, which are active in 90% of households and may be used for marketing purposes. If you do not want this, you must remove the corresponding hack. Updates promise more security, but you can lose settings with an update.

Can I use a tool like Mailchimp? Is a Swiss autoresponder tool more secure or legally more valuable? I don’t want to answer this question conclusively here, but I would like to point out the following points:

  • Does the provider meet standards such as CCPA, DSGVO or DSG?
  • Legal standards only solve some problems; the provider must check its processes more. The customer can reach out to the provider and have their data deleted, just like we do.
  • We delete what we can on an ongoing basis promptly. Many providers automatically delete accounts no longer used after a specific time. SMEs should do the same. These measures create trust; people know that data protection is taken seriously. You can see that these companies are actively managing this issue.
  • The entrepreneur also reduces his risk and possible cost traps. Who would prefer to avoid this?

Protective measures are well-understood texts on liability and the tools one uses. Likewise, a trademark registration protects in many ways and is a welcome addition to the entry in the commercial register. One distinguishes oneself and is in the market much faster than someone who omits these steps. Depending on the case, you save a lot of time. Opting for VAT can also be worthwhile, even if the turnover is not earth-shattering in the initial phase. You can optimise your system and be ready if the worst comes to the worst. It is easier to scale up when the processes are prepared or already in place. You gain security because you know you can serve your clients correctly and in line with the market.

Even more important than risk minimisation is cash management. The measures described are feasible, and the costs are reasonable or relatively low. These costs can be capitalised in the start-up phase and written off when the opportunity arises. With hard work, much time can be saved in the start-up phase, the risk is reduced, and all other market participants know they have a reliable partner.

    2 replies to "Minimise risk, increase free float, strong presence and brand"

    • Caroline

      I truly appreciate the amount of detail in this post, especially how detailed the advice is.
      Risk management is incredibly important and such an in-depth explanation is invaluable to a beginning entrepreneur.

      I wonder, do you have any advice or opinion about a business mentor and where to find one? And what are some more tips for branding?

      • SC&B

        Hi there, we will go live with our mentor platform soon, and we also provide links to other people who are thought leaders or engaged with similar queries.

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