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 [email protected] Or visit our website - www.thedailylawyer.in