Lara Morgan initially founded a toiletries supplying business Pacific Direct in 1991, later selling it for £20 million in 2008. She has since started Company Shortcuts, which focuses on helping other entrepreneurs with their business ventures.
In a recent magazine interview she narrowed her “top business tips” down to 5 fundamental mantras:
- “Sales are all you need”
- “Do admin outside business hours”
- “Hold on to equity”
- “Don’t stick to one mentor”
- “Don’t employ lightly”.
The first four tips speak for themselves. With regards the fifth, Morgan emphasises the fact that becoming an employer means taking on a lot of additional responsibility.
Off To See My Lawyer are of course here to help you assess the pros and cons of taking on employees, considering UK and EU legal requirements, procedures and statutory duties of care; and taxation issues. (First appeared in Stylist Magazine http://www.stylist.co.uk/stylist-network/lara-morgans-top-business-tips)