Retain Independence in Business
When running a business, especially when you are at the beginning of you and your business’s journey, it’s easy to rest on your laurels and just be happy that you have managed to, one, stop working for somebody else, and two, are now in complete control of your empire. However, when running you will soon find, if you haven’t done so already, that your business is going to be dependent on many factors and outside sources. You may be dependent on a certain revenue, or maybe even certain distributors; so, are you really in a position where you are completely independent? Below are a few ways you can retain, or even grab back, independence in your business.
First and foremost, when running a business, in this day and age, it is important that you not only use the Internet and optimize it to its full potential but that you are independent in the way you do so. When promoting your business online, you need to do so in a way where you are free from outside control and and are not subject to the authority of others. There a whole host of ways to make money via the Internet, and you don’t to lose your sense of independence to do so. For instance, you could take a leaf out of the DigSemi.com book and become independent distributor of good and components. In doing so you are afforded the opportunity to choose the industry or product to sell and whom to sell it to. You can find who you will be distributing to through research and make your own informed decisions on who you think it would be best for your business to business with. For instance, if a particular business’s company policy is not one that makes you believe that will be able to be trusted in regards to payment and debts owed, then you can simply refuse to distribute for or to them. You can find out how to become an independent distributor here.
And away from the Internet, there also ways to retain a level of independence, in unconventional ways. You can, for instance, factor your accounts out to factors such as those found at Invoicepayment.ca. Although this may seem as if you are in fact becoming dependent on a company by outsourcing to them, it is in fact the complete opposite because factoring allows for you to retain financial independence even when you are awaiting a customer’s payment. When factoring, you simply sell your outstanding invoices to a factor and then they take the invoice as there own and chase it up as and when they need it, proving you with the money for the invoice. It is great way to retain cash-flow, and should never be overlooked as a way of retaining financial independence.
Other ways to retain your business’s independence is to diversify your client list, so as to ensure that you are not dependent on one or two clients; get a backup vendor, so that you never have to worry about your products being supplied to you; and by learning to say no, so that your business is never taken advantage of. These tactics, as well as others, are vital in the retaining of independence in the business world.