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Top 4 Legal Mistakes Startups Make

Launching your own business is a brave decision that may change your life. However, the odds may be against you if you do not have the right foundation on how to help your business grow. In fact, generating revenue is a priority that is often a rare commodity. In this guide, we will discuss some of the most common mistakes business make and how to prevent your brand from making them.

Here are the top 4 legal mistakes start-ups make.

Being Incentive

Most entrepreneurs want to be able to handle their business all on their own. However, it is extremely rare to capitalize on a business idea without the aid of other influencers. Building core team members are considered as a major investment as they are just as motivated as their founder. As the business continues to grow, founders who exclude their shares of the profit will ultimately force core team members to leave and use their knowledge to compete against you.

Intellectual Property

Most common IP rights are trademarks, copyright, patents, and basically everything that comes from the owner. It is these rights that will work for owners to protect their business name. By misunderstanding IP, the value of your business will fail. That is one of the most dangerous things you can do for your business.


Having a patent means you must claim a legal right to territory. Most businesses choose to keep their formula and launch in market share. Consider the information you disclose and with whom. This is especially important during the early stage as the idea is to disclose the idea without giving away its value.


With a product idea or business model, you might take extra precautions. It is important to limit the number of patients you discuss your business with as Non-Disclosure Agreements will take effect is the confidentiality is breached. Be sure cautious with potential partners

Have you or someone you know undergone some of these legal mistakes? What advice can you offer? Comment below and let us know!

5 lessons Self-Funded Startups Can Teach Businesses

Self-funded businesses have the power to grow beyond the idea of selling the company. With many successful companies, it is important to stay prepared for the long run rather than investing on short-term. In this guide, we will discuss useful lessons that many self-funded start-ups used for success and what other businesses can learn from them.

Here are 5 lessons self-funded startups can teach businesses.

Constrain Finances

While businesses often feel the need to spend their finances, spending more than you should often lead you with no financial statement to fall back on. Self-funded start-ups and business must focus on delivering value to the custom, drive revenue, and create growth before expecting to make a profit of their own. This means businesses must expect time for product testing hours on R&B and collaborate with partners on new platforms.

Take Advantage of Creative Resources

Businesses are driven by necessity. That is why it is important to spend on necessary items that will shape innovation when it comes to the core functions of the business such as recruitment and marketing. Instead of spending money on recruiters, invest time and money in sponsoring events, community projects, and panels. This is a strong way to build employer brand both authentically and organically.

Build a New Business Model

It is important to find a point of difference in how you build the best team with the right source of people. To gain the most affordable team with the best expertise, consider hiring through outsources. Clients will need engineers to deliver quality, but don’t be afraid to work with a team that is located all over the world. Not only will you benefit from outside talent, you can gain help in a competitive market.

Embrace Technology

As a fast growing industry, this leaves the business with hours of manual entry, paperwork, and energy. Take advantage of today’s workflow technology using tools to help improve the quality of the company and interactions with customers.


With focus consistency and investment, businesses can improve their brand through trust, leadership, and reputation and take their business to the next level of growth.

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How VR Could Change The Training Landscape

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Virtual reality, or VR, used to be a thing people talked about in the movies and dreamed about for the future. Well, folks, the future is here now, and we are living and breathing VR like it has always been around.

And we are pretty excited about the applications of virtual reality on the training industry and other business in general example such as stainless steel banding manufacturers who are already using Google Glass within the factory’s. With the ability to place ourselves in any location, any situation, any experience, we can learn and do things like never before. In considering that the VR space is only going to continue to expand, training institutions need to work fast to start incorporating VR into their curriculums and to start using it as a way to train students for the jobs of today and not tomorrow. Here’s how VR can change the training landscape across the globe.


First to market is not always the best in the market, but when it comes to being and staying competitive in the training industry, the best institutions are going to jump on the VR bandwagon sooner, rather than later. Imagine being able to train a dentist or doctor using virtual reality training simulators. Sporting clubs are already using such technologies and have been for years: think golf, baseball, and hockey. As VR continues to make its way deeper into the training world, institutions are going to have to start investing in these technologies because students are quickly going to come to expect to have some kind of virtual reality training component.

Training Options

VR is going to create an unlimited amount of training opportunities for students. Where students might have had to travel to work with some of the world’s best educators, virtual reality, coupled with online learning, is going to create an incredible opportunity to get hands on learning from people around the globe. While online learning is amazing and continues to be improved, the component that has been lacking has been the hands-on component that so many learners need to learn a concept or technique successfully. For example, you can take a class from a university process across the country, but you had to wait to take your labs in the summer when you could travel to the school and do them in person. Imagine if lab components could be completed through virtual reality classes! Students could get the full range of benefits from the instructors, as well as the hands-on components that are so important to lock in learning experiences.

Operating Budgets

From a training institutes perspective, making money is an essential part of staying operational. In order to provide the kind of education people need to get access to the best jobs, they need to charge a certain amount for their services. This amount differs depending on location and course offerings, but at the end of the day, money does make the education system go round, so let’s not start a debate about whether education for money is right or wrong; let’s talk about how training institutions could actually charge more money for courses that offer virtual reality components. Because this kind of equipment is not cheap, training organizations will need to be able to recoup the cost of implementing this kind of training opportunity, and should they choose to do so, make a little extra money as a result of offering VR learning. It will cost institutions more money to hire qualified instructors to run the VR labs and to keep the equipment operational.

Students Can Co-create Content

MOOCs (massive open online courses) hit the world by storm offering high-quality content for low prices, and the beauty of MOOCs was that the content was open-sourced, which means it was created by a number of people or people from different locations. Anyone can build and market a MOOC, and you’ll start to see the same thing happen with virtual reality courses. Students can have a hand in teaching other students from around the globe through VR courses. Everyone loves a good peer to peer relationship, but imagine how robust the training world will be when students are sharing experiences with each other instead of just getting information from instructors, professors, and trainers. The unlimited nature of VR is complicated to comprehend, but it is also amazing to imagine how people can start to impact the learning experience by sharing what they know through VR simulations. This will take Youtubers to a whole new level. Instead of demonstrating how to do something online, students will be able to walk VR users through simulations and ensure they are learning how to do a specific task. The level of engagement goes through the roof; instead of passively watching a video or reading a lesson, students will be able to learn as they do.

Virtual reality has hit the scene much faster than people anticipated. Much of the technology advances of the last 20 years have come much more quickly than people expected, actually. The human race is evolving so quickly that is seems hard to imagine that we have anything left to achieve. But VR shows us that really, we are just getting started. Soon, VR will be like it is in the movies, and while it seems like that stuff is just hokey pokey, just think back to when you were a kid and all the cool stuff you saw in the movies…it’s here now. The real and radical implications of virtual reality will be right at home in the training world, where innovation and change is imminent. The question remains then, just how quickly will training institutes pick up this new technology and how quickly will they be able to stay current with it. Many public training institutions have to abide by strict government regulations when it comes to education, and their hands are tied as to how quickly they can introduce new ways of teaching into the classroom. How will they stack up against the private training corporations who can change on a dime? It’s an interesting question to consider and one that will be interesting to watch play out in the industry. 

What is Ransomware & How To Protect Your Business

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Your business is something that you will want to make sure that you protect. Not only for the sake of your interests and money, but also for your valued customers too.

There has been plenty of news stories circulating around in the past few months about Ransomware, particularly a global attack in May which affected over 200,000 different organisations around the world, including the NHS which had many IT Support companies working 24/7 trying to secure these network and stop the attack from spreading.

Dubbed the WannaCry Ransomware, it seemed to prey on a flaw in the much used Microsoft Software, which allowed it to spread across networks with ease, locking away valuable files. It seems that despite there being security experts who managed to stop this attack, as well as some other subsequent attacks, the problems that they caused, not to mention the security concerns are still very much around.

What is Ransomware?

So, what exactly is Ransomware?

It appears that this software has been around since 2005, created in the US, before spreading across the rest of the world.

The idea behind this cyber security attacks is that you will be requested to make a payment in order to gain access to important files. The hackers see this as a quick and easy way to receive money, particularly as they know that the majority of the files that they have locked down are incredibly important.

Access to these files, as well as the computer system as a whole is blocked until the payment is made.

Ransomware is a malicious form of software and can be downloaded onto a computer, tablet or even a smartphone. However in order to gain access to a network, it needs to be downloaded onto the network, this is usually done by the hacker getting the victim to click on a link, or perhaps download something.

They usually disguise it within an email attachment, such as documents, music or photographs. The victim will not know that this link contains Ransomware, and once the link is clicked or downloaded the hackers will be able to attack the files on the network via the software. This is a gradual process and the files are encrypted one after another.

How to protect yourself against Ransomware

Concerned that your business is not properly protected against any Ransomware attacks? If you are, then you will be pleased to know that there are steps that you can take in order to protect your company and customers data.

One of the first things you should do is make sure that your important files are backed up on a separate system. This may seem like an added expense, but if you find yourself as part of a Ransomware attack then you will know that the hackers don’t have the only copy of your files. However, of course they will still have this information.

It can be tricky to protect and prevent a determined Ransomware attack, particularly if you are part of a large company with plenty of potential targets. The best thing to do is to exercise caution, and remind your employees to do the same thing. After all, the hackers can gain access to your network simply by requesting someone downloads something onto a single computer or mobile phone.

As the most common way of gaining access to the network is through a compromised email or download from a website, this should be something that you and your employees do with caution. You should never download or even open an email or website that you think could be a phishing email. Even if it looks like it could be from a reputable source, such as a bank or even an employee within the company.

It is good practice to check the senders email, making sure that it is correct and that it hasn’t come from an outside source. If you are ever in any doubt, never open the link or download the attachment. You could always call the source to see if they are who they say they are. For a bank or other source, search for their contact number on Google rather than calling any numbers that are included within the email.

Another way to prevent an attack is to use an antivirus programme that is able to scan files before they are downloaded, and also block any installations that may contain malware. Particularly those that are hidden, and that you didn’t even know were being downloaded.

Should you pay the ransom request?

Ransomware hackers will request a payment, usually in bitcoins in order to release the files that they have control of. Bitcoins are a digital currency, which is used to make payments across the cyber world with minimum tracking and no fees.

As a victim of a Ransomware attack, you may feel tempted to pay the amount requested by the hackers. Particularly if the files that have been shut down are important to your business or contain your personal information.

However, it is important that you do not pay the amount that they are requesting. Not only does this encourage the attackers to make further attacks, but there is also no guarantee that you will receive the files back that they have been able to access.

Rather than making a payment, the best thing to do is try to restore the affected files from a back up. If you do not have a back up, or it does not appear to be working, then there are a number of tools out there that you can use to try and decrypt the hacked files and recover them.

Ransomware attacks can be concerning, but you should remember that you can protect yourself, and make sure that your files are properly protected. This is a relatively easy process, and with some common sense and careful consideration with regards to what you download, you can make sure that the hackers are less likely to attack your business files and data.


Top five tips for managing money in a start-up

Most small businesses fail for one simple reason: running out of money. This can happen for a host of reasons and, whilst demoralising, will always be a risk for new start-ups.

However, you can significantly reduce your risk of being left without sufficient funds by managing money intelligently. Every business is different, but staying in control of finances is vital across the board; below are some tips for making the most of your funds.

  1. Be in the Know

Although it sounds obvious, knowing as much as possible about your inflow and expenditures is the single best way to make prudent financial decisions. Ensure that you keep track of your cash flow from the outset – in the early stages, it might be worth investing in accountancy software such as Quickbooks. This means that when it comes to growing your business, and your cash flow becomes more complex, you already have a system in place to keep track of things.

Alternatively, you could make use of software which you may already have – Microsoft Excel or something similar – to create a simple spreadsheet for recording monthly income and outgoings. Remember to find out how your business will be taxed as early on as possible, to avoid any surprises or headaches in the future.

If you intend to cover setup costs through a lender, you should carefully research your options. Using price comparison sites can be a great way to shop around, and decide which lender might be right for your business. Bank loans are not your only choice, though – your first port of call might be investment from friends and family, and you could also consider crowdfunding. Ensure that you have planned your debt management strategy in the long term when considering your choice of lender.

  1. Plan ahead

Successful entrepreneurs think carefully about the future; it is a good idea to produce forecasts for your business in its early stages. These predict your business’s income and outgoings for up to three years, since trying to predict any further ahead than this is generally unhelpful. These forecasts should be regularly updated as circumstances change, so you always have a good idea about what to expect in the near future.

These predictions should help you to plan your budget. This should be done carefully, and take into account all costs associated with your start-up, no matter how small – small expenses can quickly add up. When budgeting in the early stages of your business, fixed expenses, such as employees and office space, could be a good area in which to make savings. For example your budget might constrain the salary available for any staff, but this could be supplemented by offering equity in the company, or other perks depending on the nature of your business. You could also consider offering part-time work at this stage, or working from home if this is possible to save the expense of office space.

  1. Set some money aside

When your business is thriving, it can be tempting to re-invest all profits straight back into it for further growth, but this is not always the best strategy. Instead, it is sensible to set aside a portion of your profits so that, should the start-up falter, you have some funds available to cover running costs without taking on debt. Ideally, this monetary cushion will cover three to six months’ running costs.

Remember to allow enough money in your budget to give yourself a decent wage. You might feel obliged to pay yourself an uncomfortably small amount, so more of your profits are freed to grow the business, but this is not the best move. You will be less able to focus on your start-up if you are preoccupied with personal financial worries.

  1. Set realistic goals

Goal-setting is key to most endeavours, and establishing a business is no exception. Your goals should be realistic, measurable, and have a timeframe. They could be anything from a profit target, to reaching a product development goal, to getting a marketing campaign off the ground, as long as they are achievable and will help your start-up to grow.

Setting a series of smaller goals, rather than relying on one larger vision for your company, makes it easier to stay motivated, and will also let you keep better track of how things are progressing.

  1. Be prepared for the worst

Having a financial back-up plan is always advised. If you are currently employed as well as managing your start-up, ensure that you do not leave your job until your profits can comfortably replace your wages. Having an alternative source of income is a good back-up – if possible, you might consider going part-time as you transition from employee to business owner. The funds set aside from profitable periods should also be treated as a back-up, and could keep your business afloat during challenging periods.

Good money management

Taking the time to carefully plan, having a safety net, and always being aware of exactly what you have are simple ways to give a new business its best chance of succeeding. As common-sense as some of these tips seem, they are worth bearing in mind as you go forward with your start-up.

5 smart methods of investing your money

There are a few investment methods that you should know about. If you would like to minimize risk and lose as little money as possible when you are making investments, then you should try and utilize these investment methods. You will have a much higher rate of success when you are investing your money, thanks to these various methods. All of the most successful investors utilize these methods in one way or another, whenever they are handling their own money. And even financial advisors would recommend that you try out these business investment methods as well.

  1. Money managers make the investment decisions – It could be wiser to turn over your investment decisions to someone that knows better than you. Money or investment managers may be your best option when it comes to wisely investing your money. These kinds of professionals are extremely savvy at knowing which types of business properties to invest it. So they may be able to help you make a lot of money through investments.
  1. Consult a financial advisor – Another professional that you can turn to when you want to invest your money is a financial advisor. These kinds of advisors may enable you to know about your assets and business properties more. And they can guide you into making smart investments with your money. Listening to a financial advisor could be a smart investment method. Try to seek counsel from a seasoned financial advisor. They may be able to offer some insights that could help you in your investments.
  1. Conduct market analysis yourself – If you would like to make all of the investment decisions yourself, you should take the time to research your business and investment prospects. You should conduct analysis and try to come up with a projected plan for your upcoming business and investment properties. It would also be better if you could plan out the long-term prospects of your investments as well. You could also look for quick win opportunities by working with an SEO Consultant who can provide you with the best advice on what keywords can potentaily drive business to your website quickly.

  1. Hire someone to co-manage your investments – You could also try another kind of investment method, wherein you co-manage your investments with someone else. Having the help of another investor could boost your chances of finding and making smarter investments. And your chances of making better investments will also increase if you co-manage with an experienced investor. Both of the investors could take the time to do the analysis, make the investments, and monitor the progress of those investments as well.
  1. Look for your mentor – Starting up a business or shall we say investing your money is very risky. Though there are so many ways to succeed in what business or finance industry you want to invest in, you will need someone that can help you especially if you are new to it. As mentioned, either way can be risky, but with the support of an expert in business, he or she can help in saving your money before it will be put to waste. There are a lot of successful entrepreneurs out there that gone a long way in business or finance industry, all of them walked the same path to become successful it is not easy but it is worth it, and you too might need to hear from them to help you discover what investment you should take.

So here are the five methods you should take advantage to prevent you from wasting your money. These methods will give you a lower risk of losing in investing and business industry, just always remember that investing is not always earning, somehow you will lose, but at the end of the tunnel, there’s the pot of gold waiting as long as you’re passionate about what you do.