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Five Things to Know Before Launching a Business in 2022

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mConnexions: Expert Connexions
December 20, 2021

Starting a Small BusinessNew year, new you, new business! The so-called Great Resignation of 2021 could be priming next year to become the Great Reinvention, as people choose to leave the workforce for entrepreneurship. Business attorneys at Foster Swift Collins & Smith, PC have some guidance before new business owners make that leap. 

A recent survey from Digital.com found that 32-percent of people polled who had quit their jobs in the last six months said they did so to start their own businesses. Of those, 62-percent said their top motivation was to be their own boss.

In a new episode of Expert Connexions, business experts and entrepreneurs share their strategic advice for anyone considering a new business venture.

“Why are you starting a business?” asks John Mashni, an attorney with Foster Swift. “Be able to answer that question. What do you want to get out of it? What do you bring to the table in terms of skills and abilities? What are your strengths, what are your weaknesses? I think it's very, very important to realize those things before you go any further.”

Mashni encourages entrepreneurs to answer five strategic questions:

  1. Why are you starting the business? 
  2. What skills and abilities do you bring to the business?
  3. Have you built your team?
  4. What are your non-negotiables?
  5. What skills do you need to develop?

The show will air at 9 a.m. on Monday, December 20, 2021 right after Good Morning America on WLAJ-TV in the greater Lansing viewing area. The segment will also be available online following the broadcast at expertconnexions.tv. New business owners may also want to watch John’s video on Three Legal Marketing Fallacies: https://youtu.be/cokkX3_VGi0.