Business Idea
Before implementing a business idea, there is need to check if there are any government limitations like business insurance and other obligations that may perhaps limit the idea or the its operations. A potential entrepreneur should realize which government authorizations and registrations apply to the business startup. It is, therefore, important to include licenses information including the license fees, procedures of applications, renewals as well as the cover periods of the license (Kamoroff, 2013). Untrained employees may cost a company millions of money for every financial period. Taking strict measures to ensure that employees are properly trained on how to perform their daily responsibilities may result to benefit. A business idea ought to have clear summary of how its employees will undergo customer service training programs to ensure they are specifically trained. This will ensure that they will deliver their best services for the business. For an organization to have a healthy growth, it is vital to have people with persuasive and clear ideas about the business plans that make an important impact to the organizational growth.
A clear business plan should stipulate the type of insurance to cover the business. The process of insurance usually involves hard processes in regards to terms, coverage and acronyms. For this reason, it would be unwise to exclude insurance details in a business plan. General liability insurance caters for damages or injuries that might occur during the daily activities of the organization (Soliman, 2014). It is important to include details about environmental regulations in a business idea as these regulations might impact the running of a business. Environmental laws ought to be compiled even when a business engages in activities that might potentially harm the environment. An organization should implement clean up plans to avoid polluting the environment and appeal to the target clients.
References
Soliman, F. (2014). Learning Models for Innovation in Organizations: Examining Roles of Knowledge Transfer and Human Resources Management. Hershey, PA: IGI Global. doi:10.4018/978-1-4666-4884-5
Kamoroff, B. (2013). Small Time Operator How to Start Your Own Business, Keep Your Books, Pay Your Taxes, and Stay Out of Trouble. Michigan: Bell Springs Pub.
