00:00:06:14 - 00:00:09:21 Entrepreneurship is never entirely without risks. 00:00:09:24 - 00:00:12:11 But if you identify your business risks... 00:00:12:14 - 00:00:14:24 you can reduce them as much as possible. 00:00:15:02 - 00:00:17:03 So, make sure to prepare quotes… 00:00:17:06 - 00:00:19:11 and general terms and conditions. 00:00:19:14 - 00:00:21:16 That way, you make it immediately clear… 00:00:21:19 - 00:00:23:10 what you deliver and how. 00:00:23:13 - 00:00:27:19 And you outline what rights and obligations you and your customers each have. 00:00:27:22 - 00:00:32:00 The general terms and conditions cover matters such as liability, payment term... 00:00:32:03 - 00:00:33:11 and warranties. 00:00:33:14 - 00:00:36:18 You can further reduce risks by taking out insurance. 00:00:36:21 - 00:00:39:10 For example, for professional or business liability... 00:00:39:13 - 00:00:42:04 your inventory, goods, and legal assistance. 00:00:42:07 - 00:00:44:18 Also, look at your personal situation. 00:00:44:21 - 00:00:48:12 Do you want to build up a pension and insure yourself against disability? 00:00:49:04 - 00:00:51:19 Let's see how these entrepreneurs arranged such matters. 00:00:52:24 - 00:00:55:24 For us, travel insurance is the most important, I think. 00:00:56:02 - 00:01:01:01 And in addition to that, we have drawn up a contract for ourselves… 00:01:01:04 - 00:01:05:02 with risks as an entrepreneur, but more as in... 00:01:05:05 - 00:01:09:14 For example, if someone falls ill or quits. We do have that on paper. 00:01:09:17 - 00:01:15:00 I chose not to take out any additional disability insurance. 00:01:15:03 - 00:01:16:23 Maybe not very smart. 00:01:17:01 - 00:01:20:16 Yes, at a certain point the bank required us… 00:01:20:19 - 00:01:23:24 to take out that disability insurance. 00:01:24:02 - 00:01:27:08 Before that, we didn't have it either, because you make the choice... 00:01:27:11 - 00:01:31:01 to either use the money to grow or use it to insure yourself. 00:01:31:04 - 00:01:34:02 And especially in the first few years we chose to grow. 00:01:34:05 - 00:01:37:13 You really do have to be well-insured for fire and damage. 00:01:37:16 - 00:01:43:07 It's also important that our customers and our staff are insured in the company… 00:01:43:10 - 00:01:45:01 in case something happens. 00:01:45:04 - 00:01:51:01 And our general terms and conditions were made by a lawyer. 00:01:51:04 - 00:01:55:08 And so far we haven't needed to use them. 00:01:55:11 - 00:01:58:13 What often does happen at companies we work with... 00:01:58:16 - 00:02:02:04 who actually have clauses themselves, so that's actually covered pretty quickly. 00:02:02:07 - 00:02:06:03 If you're running a campaign with a brand or an agency... 00:02:06:06 - 00:02:09:06 then there is often a contract involved, which we sign. 00:02:09:09 - 00:02:11:21 And we actually deliver. 00:02:11:24 - 00:02:14:23 It is important that the general terms and conditions are drafted correctly. 00:02:15:01 - 00:02:19:07 We enter into an obligation with the customer and the customer, in turn, has rights. 00:02:19:10 - 00:02:22:08 That has to be properly described in that document, of course… 00:02:22:11 - 00:02:26:08 so that if there is a problem, we can fall back on the general conditions. 00:02:26:15 - 00:02:29:00 And now it is time for action. 00:02:29:03 - 00:02:33:16 Check whether your industry association has general terms and conditions that you can use. 00:02:33:19 - 00:02:38:13 Tip: A lawyer can check or draft your general terms and conditions. 00:02:38:16 - 00:02:43:01 Find out which risks you are exposed to and which ones you want to insure against. 00:02:43:04 - 00:02:47:21 Bear in mind that private insurance policies generally do not cover business risks. 00:02:47:24 - 00:02:50:03 Take your retirement into account. 00:02:50:06 - 00:02:53:24 Explore options for building up a pension as an entrepreneur. 00:02:54:02 - 00:02:57:10 And as an entrepreneur, you will have to deal with security risks… 00:02:57:13 - 00:02:59:16 such as fraud and cybercrime. 00:02:59:19 - 00:03:01:13 Find out how to limit these. 00:03:01:16 - 00:03:02:17 Want to know more? 00:03:02:20 - 00:03:08:14 Visit KVK.nl/en/starting.