Why startups fail

Many startups fail because they build a product without doing proper market research.

This can range from not getting the product right to not marketing it properly in terms of price position and competition.

It may also just be that the timing of the product launch is wrong with the market not quite being ready for your product.

Your market size could just be too small, which means you simply won’t make the revenue.

Legal mistakes

From neglecting the basics to the business structure there are numerous legal pitfalls for startups in the UK.

Crestlegal.com provides commercial legal services for businesses in the UK. They stress the importance of getting the right contracts and documents in place from the outset as well as seeking impartial legal advice.

A big factor that people often neglect is partnerships. There is a difference between trusting the people you were going into business with at the start of a project, compared with a few months or even years in. 

Boardroom disputes happen and things can escalate quickly, so having the right partnership agreements in place is essential from the start of the venture.

Businesses also need legal advice on structuring and setting up a business as well as common issues such as

  • Protecting your personal assets as well as the know how and ideas 
  • Legal documentation for hiring employees and creating the relevant contracts 
  • Getting funding
  • Creating business to business contracts with suppliers

There may also be legal issues with developing an idea or product. This might include legal challenges from bigger businesses who see you as competition.

Business model

The business model you choose allows you to to find a scalable way to get new customers and also to monetize customers that are existing.

Customers have a lifetime value and the cost of acquiring them must be significantly lower than their lifetime value.

The managers and founders

Common problem causing startups to fail is the strength of the management team and founding members. A weak management team can lead to a poor culture and also poor strategy going forward.

Partners and founders may also fall out or want to take the business in a different direction.

Cash flow problems

This one is kind of a biggy. Reducing expenses at the start of the Venture as much as possible can really help with cash flow, however raising cash is a big challenge for startups.

Finding the right investors and deciding on who they are and the amount that you need is a big factor in raising cash for a startups. Disharmony amongst investors could mean the money is pulled out or the investment withdrawn.

Marketing

Some call it witchcraft or some call it a vital part of your strategy. Leaving your marketing to the wrong people or investing the wrong amount can have a dramatic impact on the growth of your business. Marketing also plays a pivotal role in getting to know your audience and how to get there and attention. Ultimately marketing helps you grow your customer base.

According to growthgorilla.co.uk brand awareness plays a pivotal role in building trust in your brand positioning you as an expert and encouraging word of mouth.

For the top 20 reasons startups fail, see cbinsights.com.

What’s the best time of year to buy a home?

Buying a new home can be a time-consuming exercise. You need to look at the available homes, ensure they are inspected and get a great price. Buying a house within your budget can seem like an impossible task, but you can achieve that. You will, however, need to time your buy perfectly. Housing prices are affected by the number of available homes, the demand for those houses and the age of the house you are considering. The local market and the size of the home can also affect the pricing of your house. An interesting factor that influences housing prices is the time you decide to buy. The time you choose to buy your house can get you excellent discounts and ensure that you can afford your dream home.

What’s The Best Time Of Year To Buy A Home?

The best time of the year to buy a house is during the spring. People are open to selling their homes at this time because they can move. The market is very active, and you are likely to get a house within your budget. Bear in mind that with increased supply, prices may be slightly lower than when the supply is low, for instance, during winter. Realtors are open to negotiation during spring as they do not want to lose a client. Improved weather also puts people in a good mood and may help get you an excellent price. Bear in mind that many people put their properties on the market at the beginning of the year. By the time spring begins, buyers have more homes to choose from.

Summer Months

Summer is the second-best time to buy a house. You will, however, have to give up your holiday and go house hunting. That said, the housing market is slower in July and August, which can make it harder to find the right property to buy. However, when the market slows down, you may get a pocket-friendly price on the house you find.

December

Property markets slow down as December approaches. Few people want to move to a new house right before Christmas, as Robert Holmes notes. Homeowners will avoid putting their homes up for sale at this time. That said, research has shown that December 26 is one of the best days to buy a house. Real estate agents are eager to make a sale and will give serious buyers a discount of up to 1% on the home.

Robert Holmes goes on to point out that many people put their houses on the market in January. That is due to new year resolutions about making lifestyle changes and selling. Several sellers may have postponed moving before Christmas. Other people may be moving to a different town to start a new job and may need to sell their house. He argues that the housing market is cyclic, and prices keep rising and falling throughout the year. Timing your buy carefully will ensure that you get the house of your dream at an excellent discount. When you choose the time to buy a house correctly, you can get your dream home at a pocket-friendly price. Make sure that you purchase during the spring or summer months to get a house that is within your budget.

What rights do UK tenants have?

All tenants renting property from private landlords have certain rights which are protected under UK law. The extent of these rights depends on the type of tenancy agreement, as well as the location of the property within the UK. But broadly speaking, the rights themselves may be subdivided into the key sections itemized below:

Condition of the property

Firstly, all tenants have the right to inhabit a property that is safe and in good condition. Usually, that means a health and safety assessment will need to be undertaken before the property is rented out. This is applicable throughout all the countries of the UK

Unreasonable disturbances

You also have the right to live in the property without frequent and unreasonable disturbances from your landlord or other external elements. As above, this is applicable everywhere in the UK.

Protecting your deposit

The deposit paid to your landlord should be retained in a centralized tenancy deposit scheme. While these vary in name depending on where you live in the UK, their basic function is the same: to keep your deposit safe. All tenancy deposit schemes are approved by the government.

Energy consumption

As a tenant, you have the right to know the level of energy consumption for the property you are renting. Wherever you are based in the UK, you can request to see an Energy Performance Certificate.

Rent increases

It also your right to challenge any proposed rent increases made by your landlord if you find them to be unfair. For instance, if the increase is out of proportion when compared to other properties in the area, and there is no specified reason for the increase, then you would be within your rights to challenge it. In such cases, your dispute would likely be taken to a tribunal. Regardless of where you live in the UK, your best bet in this situation would be to consult with your local Citizens’ Advice Bureau, as they will be well-equipped to guide you through the process.

Unfair eviction

You also have the right not to be unfairly evicted from a property. Typically, that means the landlord needs to provide you with sufficient notice and, in some cases, a specific reason for the eviction.

While your rights as a tenant are considerably different at a technical level depending on where you are in the UK, all of the above key areas are covered. If you are in doubt, your first recourse should be to the Citizens’ Advice Bureau for further guidance.

What to do after a car crash

If you’ve been involved in a car accident, the last thing anyone wants to do is deal with the aftermath. It’s natural to be very emotional and scared about what might have happened to yourself or your loved ones.

The best thing that you can do at this point is to contact emergency services and hospital staff immediately and then make sure you and those traveling with you are safe. You’ve come away from the accident alive, and it’s important to give yourself some time to process what just happened and try to relax.

Once you’re safe, have been treated, make sure you contact a lawyer. They can help in two ways: they can help you receive compensation for your injuries; they can ensure you will be compensated for the damage done to your car.

Once you’ve done all of that, there are some things you should know before leaving the accident scene.

The first and most important thing to do is to write down everything that happens in the accident. Do not leave the area before writing down what happened from your point of view, who was involved, how fast you were going at the time of the accident etc. If you are able to get into your phone or camera and take pictures of the accident scene, make sure that you do so. This information could be useful later when insurance companies and law enforcement begin their investigations into what happened.

Once everything is taken care of, and you’re ready to leave, it’s important to discuss the accident with your insurance company. They may tell you that it’s in your best interest to leave the area before they arrive, as your presence may be interpreted as a sign that there could have been some fault on your part. It’s not in your best interest to leave the scene of an accident, but sometimes it’s unavoidable. If you do leave, be sure to call your insurance company on a secure line and inform them that you left and exactly why.

If you’re unsure of whether or not you should stay at the scene of the accident, consider whether or not there are any injuries involved. If someone has been injured in the crash, leaving would be considered abandonment. If no one is injured, you are allowed to leave, and you should make note that there is no one in need of emergency aid.

If you have been injured in an accident, it’s very important to get medical attention as soon as possible. Your insurance company can help you with this step and can provide advice on what to do next. If you weren’t injured but saw someone with extreme injuries at the scene of the crash, obtaining care could be considered a good move. However, waiting until the medical personnel arrives before seeking care for non-injury-related problems is probably a good idea if you aren’t injured. Depending on the circumstances of the accident, ambulances may not be able to provide service within a timely manner.

How much does a divorce cost?

Are you thinking of getting a divorce? You undoubtedly have numerous questions, one of them is how much does divorce cost. There are several aspects to consider while contemplating divorce. Nevertheless, most people consider divorce to be an expensive undertaking. However, divorce may also be inexpensive; it all depends on the parties divorcing.

What is the average cost of a divorce?

The cost of divorce might vary depending on several things. Divorce prices vary depending on several circumstances, including whether or not a lawyer is employed, the type of the divorce lawyer, and whether or not the divorce is challenged. Divorce, from a legal standpoint, is essentially the termination of a legal contract. For the procedure to be effective, papers must be completed and filed with the court.

For any paperwork handled by the court, a fee ranging from £550 to £1,500 VAT included is charged. If you want to hire a family lawyer, you can be certain that the cost will be more than £550, since there will be other expenses to consider. Each lawyer in the United Kingdom will charge their fees based on their terms. Divorce does not have to be costly if you do not wish for it to be. You may always compare lawyers’ legal fees and find one with whom you are comfortable working.

When solicitors are engaged, the cost might be confined to £5,000 to £10,000 plus VAT. However, if the divorce discussions fail, they will have to go to court, and the money paid to the solicitors will be little. This means that divorce costs will rise. Going to court is one thing; going for arbitration is quite another. You will have to pay for someone to make the ultimate decision on all of the discussions, which everyone must be happy within the end. Arbitration can never be appealed; instead, the parties must live with the conclusions made. Divorce court expenses can range from £10,000 to £15,000 plus VAT, depending on the methods utilized.

Mediation costs on average

Mediation is significantly less expensive than the significantly more expensive process. If the thought of litigating in court frightens you, it could be a better option to opt for mediation. A mediator will assist you in reaching an agreement but will not tell you what you must do. However, before and after the mediation process, both parties should consult legal counsel. However, the cost will constantly rise, especially if one decides to hire an attorney to safeguard their interests. The fee may also vary based on whether the mediation is completed completely or whether the divorcees must go to court.

The payment of the charge

The individual who gets to apply for the divorce must pay a nonrefundable cost of £550. You can, however, obtain assistance if you are unable to pay for your divorce via the government. There is always a box on the divorce form that you may check if you want your partner to pay the divorce fees, which you will get after the divorce is complete. Divorce is not an easy thing to face, and you can only do it where you reside, not where you married.