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Learn the business side or seek expert advice.
The excitement of creating and designing your own work to sell is undeniably the thrill for starting a business. However, the business side - such as registering a business name - is often viewed as a hassle and given low priority. Unfortunately, oversight or ignorance of the business aspects can lead to a costly failure.
So ensuring the correct legal matters are in place from the start can save money and allow you to maximise your creative activities. However, it does take time and effort to complete the required documents to become a legally trading business. If you have no interest or time to do this groundwork, seek expert advice. Experts are able to ensure your company foundations are set up legally from the start. This is, of course, more costly but can save you money in the long term.
And...
Understand your intellectual property rights.
Being creative means you're developing original works. Don't underestimate the value in your creations and seek to protect your work with intellectual property where applicable. This may also prevent others from copying your work.
Relevant intellectual property rights include: copyrights, trademarks, design and patents. Whilst copyright is obtained simply by creating your original works, design and patents must be new, so need to be applied for before they're disclosed or sold. Have your creative work reviewed by professional intellectual property experts before showing your customers or publishing on the internet and add value to your creation.
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