Starting a Business – Here’s What You Need to Know

Starting a Business – Here’s What You Need to Know

Many people dream of starting a business, but very few of us actually get there. Of the ones that do, a large percentage end up failing early on. This is usually because the founders are not prepared enough – or have not thought their business idea through. Here’s what you need to know if you are planning to start a business any time soon.

Starting a Business - Starting a Business - Here's What You Need to Know

It’s hard

Let’s start here: it’s hard. Really, really hard. Be prepared to work more hours than is legally recommended, sleep less than you ever have in your life, and take on stress headaches that have you wishing you could stay in bed. If that sounds like enough to put you off, you probably won’t make it. Most entrepreneurs will tell you that the only way you can make something a success is if you are truly passionate about it. The passion and drive to keep going through those tough first years – and yes, it will be years – will be what brings you through to the successful phase. Read More

Patenting an Idea – Should You Do It?

Protecting your intellectual property is very important. On the other hand, it’s very difficult and costly to get an idea patented. There are two clear sides to this debate, and it’s important to consider both of them. Here’s what you need to consider before you decide whether or not to patent an idea.

Design - Patenting an Idea - Should You Do It?

Why you should patent your idea

So, we’ve seen the downsides. But what about the upsides? The fact is that once you have a patent in place, your idea is protected. Only you can profit from it, and you could even successful sue anyone who used it for their own gain. This protection lasts for twenty years, is pretty robust, and can easily be reapplied for at the end of the period. Read More