A good entrepreneur has nothing to hide – on the contrary – he knows his business well and many relevant areas down to the smallest 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 is well manageable, and if not, which tools could help to develop the desired business area promptly?

One always continues to learn. Learning by doing is good. It is recommendable to permanently align the company's goals and have a strategic and timely reflection in place. A sparring partner who has already done something similar can be helpful. As a member of work-related associations, one often meets interested people with valuable input for finding solutions to problems in one's work environment.

Anyone subscribes to a newsletter knows that their contact details are collected and may be used for marketing purposes. The routers of providers for the private sector also collect data from their customers. According to the statistics of the leading national provider, this data may be used for marketing once consent has been acquired and the checkbox for data gathering is activated in 90% of the households. Even though updates promise more security, one can still lose specific settings with such an update.

Should one use a tool like Mailchimp? Is a Swiss autoresponder tool more secure or legally superior? Such questions should not be answered conclusively here; however, the following must be pointed out:

  • Does the provider meet standards such as CCPA, DSGVO or DSG?
  • Legal standards only solve some problems; the provider must review its processes regularly. The customer can contact the provider and request to have their data deleted.
  • We promptly delete possible data on an ongoing basis. Many providers automatically delete accounts that are no longer in use after a specific time. SMEs should do the same. Such measures create trust, and customers know that data protection is taken seriously. It quickly becomes evident that these companies are actively managing this issue.
  • The entrepreneur also reduces his risks and possible cost traps.

Comprehensible texts on liability and the relevant tools are protective measures. Likewise, trademark registration protects in many ways and is a welcome addition to the commercial register. One distinguishes oneself and is in the market much faster than someone who omits these steps and thus saves much time. This can also be useful when optimising VAT, even if the turnover is low in the initial phase. If the system is optimised, one can be prepared for the worst-case scenario. Scaling up when the processes are ready or already in place is more accessible. The knowledge that one serves the clients correctly and according to market-related standards brings along with it confidence and security.

Even more important than risk minimisation is cash management. The described measures 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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