Business
The 4 pillars of business structure
Ownership, governance, operations and finance — the four things every serious venture has to settle early.
Many people running something profitable are still running a hobby. The money arrives, the work happens, and nothing underneath it is built to survive a bad month.
Four questions
- Can it operate for a week without you?
- Are the finances separate from your personal account?
- Is there a record of who owns what?
- Would a stranger understand how it makes money?
If the answer to any of these is no, that is the work in front of you.