How to Avoid Business Trouble: Eight Key Rules

Part of the Starting & Running a Business All-in-One For Dummies Cheat Sheet (UK Edition)

A dangerous area of marketing arises when people try to bypass regulations that ensure fair pricing, safety, and honest advertising. In the UK, as in Europe and North America, there are regulations as well as self-regulatory industry guidelines:

  • Always make sure your pricing is fair to customers and competitors (because unfair competitive practices are usually illegal).

  • Always clarify the limits of warranties for services or goods.

  • Always provide full warnings and details about your product’s content and source on labels.

  • Always follow an open and honest policy with the media.

  • Never say anything deceptive or misleading in ads or other communications – remember the watchwords ‘legal, decent, honest, and truthful’.

  • Never distribute products that can do significant harm to anyone.

  • Never discuss prices with competitors (that’s called price fixing).

  • Always keep an eye on future trends that could impact on your performance.

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Starting & Running a Business All-in-One For Dummies Cheat Sheet (UK Edition)

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