The Cut Jenstone

Turning a hobby into a business is a big step. Just because it's your hobby doesn't mean it's going to be easy. Apart from hobbies, you will have to handle other business activities.  It’s a pickle. It might ruin the hobby that makes you happy. I want more from what you are doing. But you don't wanna screw up with one thing that makes you feel at home. Here are the pros and cons to consider on your journey: PROS Passion and Fulfillment. Can’t beat it. Fulfillment with your everyday activities gives you a sense of peace and purpose. Also, your passion for a project can be infectious, and draw in customers. Existing Expertise. You are already past the learning curve. Now you have a competitive edge over others. You can use it for your own good and be unique in the field. Motivation. You like, you love it, you want some more of it. Because it is your hobby you are already excited and motivated to continue and thrive . This will keep you energetic in your business. Innovati...

Resolutions are fun and exciting!! But unless you have a good reason supporting your resolution, your drive to commit to the task may fizzle out rather quickly. You are entering a new year. It is a perfect new start. You are excited with a fresh and motivated mind. Nothing in the way can make any hurdle in this happiest time of year. Don’t get me wrong, I believe in you. But you need to know. That 20% of small businesses fail in their first year. Take a longer picture. That number increases to 70% by the tenth year. What do we learn from these stats?  That New Year’s resolution is not always the best time to start a business. You can have more opportunities, better occasions, and reasons to start a business. Business is NOT free Why? Money. No matter what you hear on social media, starting a new business is NOT free. It always costs money. You are going into online business or other money is always involved. As a matter of fact, people who convince you that they can help you start ...

You are thinking about the business. But you have so many doubts. You may be struggling with imposter syndrome. Let’s talk about imposter syndrome . Imposter syndrome will make a home in your head. Leaving with so many doubts.  Who are YOU to start a business? It will make you question yourself. Do you have a background in business? Do you even know what you are doing? At what point will people know that you are a complete amateur?? Stop doubting yourself. Stop the swirl of unease in your head. But how? I’ll start with my favorite Formula 1 driver quote.  “The easiest thing in life is to give up. On whatever you know. Whatever you are focused on. On whatever you are hopeful for. The hardest thing is to continue. To keep going. But we have to. Like we have to continue. To hold on. And I would imagine for so many people out there that is. That is probably the most difficult thing.” Sir Lewis Hamilton But before making efforts to keep going you need to take a start. Take a step b...

Once you have made up your mind to use Independent Contractor Agreement (ICA.)  Then comes real hurdance. How to use it? An independent contractor, or freelancer, is NOT an employee. This means that they are responsible for their own taxes, insurance, and benefits. They are self-employed. In this contract, business owners will have less control over the independent contractor in project. What it means is that a company or business will have authority. They can set deadlines, goalposts, and other parameters of the project. The ICA is used to establish the expectations. They create terms, and legal obligations of the contractor and company. Where is the BEST Place to Find a Good ICA? The internet for free? Of Course it is. You can find an ICA online for free on the internet. But what is the guarantee that it is best for your business and work? It may be absolute trash. If you are going to use an ICA, at least use a good one. The one that will actually protect you and be worth money. ...

An independent contractor agreement is used when you hire another person to do work for your business. It is called a freelancer agreement. So, why do you need an independent contractor agreement? You just started business. You don't wanna waste your savings on something unnecessary. Well, I am here to tell you why it's important for your business. I am going to give you reasons and explain why independent contractor agreements are important. How it saves your business from extra tax, intellectual ownership , and more. AVOID an employer-employee relationship. If a person is working for you as an employee then an independent contractor. Then there are many legal and tax implications you need to take care of. Are you ready to consider labor laws? Health insurance benefits and withholding of taxes are all included in labor laws. Suppose you don't have an independent contractor agreement. You will be responsible for these extra implications. Clear scope of work. What is the per...

Decision paralysis is common with new business owners. So don't get overwhelmed. You are not the only one confused. It happened to everyone. Decisions at the start of business are important. There are so many choices that you have to make. You are not sure what is best for your business. In my previous article on Vocal, I talked about pros and cons of different corporate structures. Deciding corporate structure for your business is just one of the onion’s layers! When you are in the middle of “ analysis paralysis ,” you are exhausted. So tired and confused that you can't take another step. Why are you wasting time? Your valuable time! Your valuable energy!! Where is all the motivation to start your business gone? You are here to make decisions and grow your business. But what are you doing? Taking care of Emotional stress! If you keep on focusing on your emotional stress then all the opportunities to grow will go to waste. How do you stop the decision paralysis? Delegate, deleg...

You don't know what corporate structure is? It’s an imaginary box where you keep your business. What does that mean?  How do I choose?  Do I really need to have a corporate structure for my business ? What will happen if I don’t keep my business in this box? What are the pros and cons of Corporate Structures? Of course, these questions are ringing in your head right now. Let me tell you what will happen if you don't choose a corporate structure for your business. (1) you may be personally liable for business debts ; (2) you may also be personally liable for injuries caused by the business; and (3) you may not get favorable tax treatment. If you don't care about any of these factors then you might want to run your business as an individual. In business terms, this “box” is called a sole proprietorship. But that’s not the case for everyone. If you are bothered by these factors then, I’m here to break down some choices. There are three most common boxes for running a business....

Why do you need a business plan? You are not a planner? You can just start and sort out things on your way. Keep this thought out of your mind. Businesses don’t just HAPPEN . To start a business you at least need a little planning. But, probably more than a little. Writing a business plan gives you a roadmap for what you need and what you will do to achieve your goals. It helps you make wiser decisions. Did Kimi create a business plan? Honestly, I didn't make any business plan when I thought of starting a business. There is so much to do and handle in a company. My mindset before starting a business is that a business plan is not something that would do anything. But I was absolutely wrong! Without a business plan, I couldn't focus on anything. All I needed was a clear plan to re-focus and re-center. A business plan is especially useful if you are stuck, frustrated, and losing focus on everything. What does a business plan do? What is its purpose? How does it help us? You must...

  Every day, people come up with different business ideas . Some are brave enough to accomplish their dreams by working on these ideas. While some just fit in and wait for the right moment and achieve nothing. Contrary to popular belief, you don't need a huge investment and all resources at once to start a new business. You don't need to have everything at once. It's not the case. Starting a business is a big step. If you wait until you have everything in place, you'll be waiting forever. Follow a business plan, gather some resources, and give it a shot. Once you finally open up your mind and start a business, you will have everything you need on your way. The first thing that you need to protect is your rights. You do not want others to steal your hard-earned money or get yourself in trouble with legal disputes. To protect your rights and ensure a smooth journey, you need the best legal contract templates. These legal appointment templates are the guards that will prot...

Starting an online business is about something other than just selling products and generating revenue. It is also about saving your resources and rights. Legal templates and pages are best to project online businesses. Does every website need legal pages? Yes. But does every website on the internet have legal pages? To tell you the truth, No. Not every website on the internet has legal pages on their websites yet they are running. Your question would be then why is it important? Why should I buy legal templates and pages to protect my business? How many of you have run a red light? We all know it's not safe and legal to run a red light. Yet we still at times have run over it. In the hope of not getting caught. And we are in bad luck, you get caught. You will face the consequences of it. Just like that websites that are running without legal templates and pages are at higher risk. In any unwanted situations, they can get you in trouble. What kind of trouble? Lawsuits and penaltie...

Legal templates are essential for every online business. You need legal pages on the website to protect your business and money. But what and where do you need it? You need a trifecta of legal pages Privacy Policies, Terms and Conditions, and Disclaimers on every website to protect your business. Are there websites on the internet that are running without trifecta? Yes, some websites are running with these important trifecta. Should I have told you that? Of course, I want you to know there are two paths, safe and risk. Going under a red light is not safe. But at times we all have taken risks and run through red lights in the hope of not getting caught. Just like this, some websites are running without a trifecta of legal pages and are at risk of getting in trouble. Why is a Privacy Policy important? Privacy Policy is one of the most important legal templates , it is required in many jurisdictions. Not having one can result in penalties and fines. It builds trust between people and the ...