Importance of thinking about your Non-negotiables for your business

While all of us 'want' plenty from our business, I encourage you to stop & think of your absolute 'no-no's when it comes to your business/ What would you absolutely not tolerate from your business?

Is it a loss of control? Losing your work-life balance? No cutting corners/ having anti-bribery initiatives? Having your legalities in place? Paying your dues - taxes, salaries, expenses, vendor payments - on time? Building an inclusive work culture? Encouraging pro bono work? Making your organization family first? Having open-door policies? Taking mental health seriously? A strict adherence to quality over everything else?

 

Whatever it is, having your non-negotiables in place is the FIRST step to set up any business.

Your non-negotiables will dictate -

- What kind of corporate structure you can go for

- What kind of policies you should have/ get drafted in your business

- What questions you should be asking, and seeking clarity on

- What kind of professionals would you need to help you through the business set up/ running of

- How and when you should hire/ fire - and how to provide for those in your employment contracts

- What you should provide for in your third-party contracts

 

In short, your non-negotiables create a boundary within which your creativity and your business can flourish, be nourished and protected. In business, the pressures, opinions and opportunities can be distracting, but these non-negotiables would help keep you focussed on your mission; help you make decisions that would be optimal for you, and help you provide clear and unambiguous instructions to your partners/vendors/other professionals whom you'd engage within the course of your journey; 

--

For more such interesting content, please follow The Daily Lawyer Podcast on your favourite Audio listening platforms.

You can connect with us 

On Instagram @thedailylawyerig

On LinkedIn - https://www.linkedin.com/company/the-daily-lawyer

On YouTube - https://www.youtube.com/channel/UCHOYQu_6EBERjmFIbVJn7uw

Or simply write to us at thedailylawyer@gmail.com

Or visit our website - www.thedailylawyer.in