Lucid Guys on Internet Marketing #10 – Head in the Sand
Part 10 in a series of Internet Marketing videos featuring David Congreave and his assistant Beth Rudkin. This week David discusses compliance.
To ask David and Beth an Internet Marketing question, send an email to video@davidcongreave.com
Google “small business advice” or “small business compliance”
—-
DAVID
Hi, I’m David Congreave and this is my assistant, Bethany Rudkin. Last week we talked about the importance of backing up your data. This is one of the aspects of home business that come under a category I call “Head In The Sand” work.
Bethany, would you like to explain to the viewers what the “Head in the Sand” category is?
BETHANY
Not really.
BETHANY
The “Head in the Sand” category refers to work that you KNOW is really important, but because it’s going to cost money, or because it seems really complicated, you ignore it.
DAVID
Backing up your work definitely falls into this category for a lot of home business owners, but as we saw last week, it doesn’t have to be complicated or expensive. So, for the next few weeks, we’re going to cover some of the jobs that come into the “Head in the Sand” category and reveal how to get these sorted with the minimum of fuss.
This week we’re going to talk about “Compliance”. Bethany, would you like to explain to the viewers what “Compliance” is?
BETHANY
Not really
BETHANY
Compliance is ensuring your business is compliant with the laws and regulations of the country where you work.
DAVID
That’s right, and if you’re going to take your business seriously, it’s something you must give some attention to. Otherwise, the result could be heavy fines, or even jail time. Fortunately it doesn’t have to be complicated.
Bethany, where would you start with this?
BETHANY
Hmm. Shiny.
BETHANY
I would start by Googling the search term “small business advice”
DAVID
Very good. Most of the time, the authorities WANT you to be compliant and you’ll find online guides to help you out. Just put aside some time to do some reading and see if there is anything you need to take care of.
BETHANY
What about paying taxes?
DAVID
That’s really another subject, but you can find advice on this in the same way. If you really can’t cope with the idea of figuring out your own tax returns, then hire an accountant to help you out. It won’t cost you as much as you think and that is definitely one area you can’t afford to ignore.
BETHANY
Do you have to be compliant with other countries, or just your own?
DAVID
Good question. Your country of residence should be your priority but you should also give some thought to the country of your customers. For example, if you’re based in the UK, but have a lot of US customers, then there ARE some compliance issues to consider. This is especially important if there is an extradition treaty between your country and the country of your customers.
BETHANY
That sounds scary.
DAVID
Well again, the majority of small business owners never have a problem in this area, but if you did, because it’s such a serious matter, you can’t afford to bury your head in the sand and just ignore it.
We’ll go into this subject a little more next week. For now, Google “small business advice” or “small business compliance” and check out the authorities guidance for small businesses in your country.
BETHANY
And when you’ve done that, Google “I can has cheeseburger”
DAVID
Thanks for watching, and we’ll see you next week.
Related posts:
Leave your response!