Running your own small firm or solo law practice isn’t easy. You must constantly increase your client base, work to stay current with practices in your area and learn marketing skills — all in addition to running a business. It’s time-consuming and uncertain. But there are plenty of positives, too—like being your own boss. Fortunately, resources are available to help you meet these top seven challenges.
1. Modest Salaries
Especially in the beginning, small firms offer smaller salaries than larger firms. But the almighty dollar isn’t the driving force for many attorneys. Just like in other professions, some people put themselves through school, incur large student loans and work long hours because they love what they do and enjoy helping people. Keep this in mind when you’re working long hours to build your business. Read more... top ▲
Ten years ago, owning a small business meant having a physical office. But today that’s just not the case. Mobile devices, broadband connectivity, cloud computing and other technologies are allowing employees to work from home or on the go. Now you have the option to do the same and ditch huge leasing and equipment fees while increasing the flexibility of your business. But should you? While it has many benefits, operating from home isn’t right for every small business owner. Here are some big factors to consider.
Client meetings and employee interaction
A physical office allows you to host client meetings and showcase your business. It also gives you the ability to collaborate with your clients in person—making it easier to know if you’re meeting their needs After all, you can’t read body language behind a computer screen. And employee camaraderie is a large part of most people’s lives. More importantly, in-person collaboration can be central to a project’s success. Read more... top ▲
Here’s a daunting fact: While more than 500,000 small businesses will launch this month, just as many will fold because they can’t meet overhead costs. Sure, there are factors beyond an owner’s control, like the economy and unforeseen industry changes, but successful small businesses find ways to pinch pennies, adopt wise practices and discover new innovations that save money.
Here are six suggestions:
- Go paperless.
It isn’t just for bank statements anymore. Paperless options are enhancing how people run their business. For example: Read more...
- If contracts are part of your business, companies like Docusign have e-signing services that make documents easy to complete from thousands of miles away, saving time and shipping costs.
- Need to get hardcopy documents into your employees’, partners’ and client’s hands? Professional scanning companies can turn around large volume of documents in one day by converting them into CD-ROMS, DVDs or simple emails and integrating them with any software system you choose.
Just north of Australia and the rich coral paradise of the Timur Sea lies the island nation of Indonesia, the Emerald of the Equator. You may covet this Pacific gem for its abundance of natural resources, its thriving manufacturing sector, or its lush tourism industry, and you know the time to move in is now. Its economy is starting to take off, and you’re poised to reach in and earn a few of those riches for yourself. All you need are the tools to do it.
When it comes to navigating Indonesian commerce, you know where your efficiency issues lie. Long and expensive flights, customs, and local taxes can be a headache to handle. In fact, if you or other employees relocate to the islands, you have to pay income tax even if you’re a foreign national. Skipping a local office is the way to go, but you still need a local address to conduct business and have a good reputation. That’s where Davinci comes in. Read more... top ▲
Whether you’ve been dreaming of owning your own company since childhood or you’re longing to break loose from the confines of a corporate job, the opportunity to start your own business is too good to pass up. Now that you’ve got the ball firmly in hand, it’s time to show the world you’re ready to tackle any challenge coming your way. Here are five surefire ways to prove you’re a serious entrepreneur.
Embrace Your Fears
Entrepreneurship gives you the chance to control your own destiny, but this can be a frightening prospect too. Acknowledge your anxiety, but don’t let it stop you in your tracks. Embrace fear as a force that can power your drive and determination.
Become an Expert
Whatever your chosen field, you’ll need more than a passing knowledge about your product or service to succeed. Do your homework, research the competition, and build your reputation by becoming a go-to source for reliable information. Read more... top ▲
Venturing into the fast-paced business environment of Hong Kong is both thrilling and a bit nerve-wracking. From the city’s breathtaking skyline to its crowded sidewalks and boisterous canteens, Hong Kong is a city overwhelming to the senses at every turn. Once the first wave of culture shock has washed over you, however, the exhilaration of doing business in Hong Kong takes hold. When your business interests bring you to one of the world’s leading financial hubs, you know you’ve arrived.
Whether you’re headed to Hong Kong to raise capital or to expand your brand in a new market, opportunities abound in this supercharged city. The city known as one of the Four Asian Tigers roars with excitement and prospects for a bright financial future. Around 22 percent of the world’s IPO capital is raised here, and more corporations are headquartered in Hong Kong than in almost any city in Asia. Competing with seven million people for your share of the city’s 263 billion GDP won’t be easy, but you’re determined to toss your hat into the economic ring. Read more... top ▲
Are you looking for ways to turn your business green in 2014? You may be surprised to learn what’s good for the planet can also be good for your business. Are you ready to be socially responsible and business savvy? We want to help you seize your golden opportunity to create a green strategy. Here are five simple and painless ways to make your business plan a little friendlier to the planet:
Countless sheets of paper are wasted when employees print emails or internal documents. Important emails and documents could easily be archived in a virtual capacity. It may be advisable to have your information technology department coach employees on how to properly store documents and files for easy access.
Go Virtual Read more... top ▲
As a fresh face in the world of business, you are an up-and-coming entrepreneur about to make big waves. You’ve got the business model, the concept, and the sheer will power to make a go of it. Now you’re working on location. You know one of the keys to success is being in the right place at the right time. You’ve chosen San Antonio, a shining star in Texas attracting businesses from all over the country. San Antonio is already dedicated to rolling out the welcome mat for open-minded individuals who are ready to explore their options. With the newly expanded Henry B. Gonzalez Convention Center, San Antonio is expanding its buzz for conferences and conventions, making a meeting in this hot city a hot commodity. Read more... top ▲
“That’s where I want to be, living in Beverly Hills.” Weezer sang it, and the world agrees. Just mentioning the name summons the image of cruising down Rodeo Drive in a convertible, your hair whipping in the warm breeze and your skin radiant in the California sun. That’s the image you want your clients to see when they think of you. Your business has what it takes to make it among the stars, and now all you need is the glitz and glamor of a Beverly Hills reputation.
A Beverly Hills address is a coveted commodity. Even its primary zip code is a symbol of prominence and style. You may want to charge clients what’s expected of a 90210 address, but you don’t have to pay it yourself. Davinci can get you that coveted zip code while helping you dodge the celebrity price tag. Read more... top ▲
The global business world is full of unspoken codes. Succeeding often comes down to speaking the right language, having the right address, and presenting your product in the right light. The rewards for entering the international market are great. The consequences of failing to appeal to the sensitivities and desires of your target demographic can be greater. Do you need tips for doing business internally? We want to share four tips for rising to the top of the global scene.
Price Your Product Using Local Currency
One of the keys to entering the international market is to erase any barriers to obtaining your product. It is advisable to sell your products using the currency of the region you intend to sell them in. The need to translate prices to local currency could frustrate or deter potential global customers.
Hire a Language Interpreter for Important Meetings Read more... top ▲