It is one of the most important factors in the grooming process in order to be an attractive company to invest in i.e. “Investor Ready”. There are dozens of areas and hundreds of ways in which a business may be exposed without knowing it. In the normal course of business an owner may not worry about these factors, as they are within the “comfort zone” of operation. For an external party to get involved however, they need a much more transparent organisation so they are not confronted at a later date with skeletons in the closet. It is important because businesses already face uncertainty. And while a venture capital investor may have a reasonable tolerance for risk, they will not welcome unnecessary risk. The goal is to control as many areas of risk as possible, so at least the risks are known. Most companies who have had an internal focus (i.e. have focused on sales, marketing and operations in order to grow) have not thought about all the areas in which they are vulnerable. The process of derisking limits the areas of exposure, and therefore decreases exposure to uncertainty. It also increases the chance of success through improvements in clarity in almost all areas of the business. Derisking falls into two areas – one is simply clarification (i.e. creating a contract where an informal arrangement was in place) and the other a change of substance i.e. changing a supplier because it lowers risks.

Some examples include:

• Formalising employee agreements. This may mean creating contracts for employees that have previously operated without one, or strengthening existing contracts. Particular issues would be with protection of IP, ownership of IP, confidentiality and restraint of trade after employees leave.
• Creating / clarifying written agreements with suppliers
• Creating/ clarifying agreements with customers
• Moving “ad hoc” sales to contracted revenue where possible
• Formalising and documenting internal processes
• Protection of IP – patents, designs, copyright and so on.
• Protection of data by limiting and monitoring access to key systems (CRM, accounts etc)
• Key employee insurance (including of the owners) in the event of death.
• Creating or clarifying credit terms and policies. Getting credit offered back within trading terms, and ensuring that all credit offered is documented with the correct application forms and personal guarantees.
• Removing reliance on key personnel, in particular vulnerability to information or relationships which may be lost on their departure. This may mean adding additional points of contact to key client accounts so individual relationships are less critical.
• Documenting key processes – getting the knowledge out of people’s heads
• Ensuring insurances of assets are up to date, and sufficient.
• Lowering legal exposure (liability). Ensuring insurances are held that cover product liabilities and so on.
• Ensuring compliance with all ATO and ASIC regulations. Creating systems for their ongoing compliance.

In 2007 I made the brave decision to walk away from the safety net of corporate life and a regular salary. I had been quietly training behind the scenes to become a Clinical Hypnotherapist and Psychotherapist, something completely different to the 25 years of marketing that had been my previous career. In the evenings and weekends my business had started to slowly grow, as the business grew so did the client referrals. As I write this, the client referrals account for well over 70% of my client base and whereas I initially worked from home, now I work from three separate clinics.

When therapists start their new career, their backgrounds are diverse, but rarely have they come from a self-employed status. So not only do they have the pressure of finishing their training schedule and final exams, but then there is the daunting prospect of setting up their company. My advice is simple, write down a plan of action and, as much as possible, stick to it. Then use the many very helpful websites out there which will guide you and give you the information you require. It is all there, it’s just a matter of knowing where to find it.

The best parties are all come seal good food, great time, and a fun company. Whether it’s a goods launch or a party to celebrate a wedding, birthday, or any other bodily function, the goal is to generate sure all has a fun time and withdraws with good memories.

Here are numerous tips on lobbing the best parties that will generate you go down in history as the best party host ever:

- Plan ahead. Contrary to regular recognition, the best parties aren’t the bulk expensive but the well-planned. Book early for the party venue. Order promotional goods in enhance if you’re lobbing a goods launch.

- Give adequate notice. Weekends are the best time to lob wedding and birthday parties, where office functions are held during weekdays. Make sure you send out your invites in advance—not to early to generate population forget, but not too late that they’ve already organised plans. A week’s identify is good.

- List a apparent RSVP contact number. It’s best to know how many are originating so you can inform your caterer and the venue population if you deficiency to add to the menu or lead other chairs.

- Decorate! A party isn’t one without the bling, so to speak. Add numerous color to the occasion with balloons and other party promotional goods like maracas and clappers will assist bring higher the energy.