Who said running a business was easy?
It’s a bit like learning to drive a car. You have to remember to look in the mirror; you have to press on the clutch and then change gears; don’t look down, you have to steer; and don’t forget which is the accelerator and which is the brake pedal – what, I have to do this all at once?
So, anything to reduce complexity would be a boon for business owners, right? A bit like driving an automatic, at least that’s ONE pedal and the gearshift out of the way!
A business has four areas that can attract layers of complexity:-
- The structure
- The products
- The processes
- Management behaviour.
The business structure can be complex. There is the legal entity, and each different one has different regulatory and reporting aspects, some more complex than others. You can review the legal entity and perhaps choose one that is more simple to operate (but be careful of tax ramifications in any change).