6 Great Small Business Tips That Will Save You Headaches
1. Separate Business and Personal Finances
Be sure you distinguish your company and personal finances from the beginning of your venture. You and your corporation are independent taxable entities, so your investments need to be separate. Otherwise, stuff could get messy. You would have to handle an IRS audit finally, which is a hassle, even though you don’t have anything to hide.
2. Set Up An LLC
It is prudent to set up your business as a separate taxable entity from the outset, even if you are a one-person shop and are 100 percent self-employed.
Most small businesses are established as LLCs. It just costs around $1,000 for this to be completed. It will protect your personal assets immediately from legal concerns that your business might encounter.
Most organizations never have legal problems, but it is still best to be ready.
3. Ignore Your Email For Half the Day
Some efficiency experts advise not checking your email first thing in the morning.
This is common advice that certain individuals may believe should be disregarded.
But the first time you reach the workplace, there is a reason not to check your inbox. Using your brain when it’s freshest on big business decisions, not on a long list of emails, is a smart idea.
In the latter half of the day, concentrate on the important business activities you have and get to your emails. But if an emergency email comes up, most of your important activities for the day will have already been accomplished.
4. Pay For Education
Many small entrepreneurs agree that improving their education is the best money they have ever invested. Pay for a course in it if you don’t know how to do that rather than find it out by Googling.
Laying out a few hundred dollars to master a skill you’re going to use in your company on a daily basis makes sense.
By saving you money and time by eliminating errors and operating more effectively, most courses you take will pay you back.
5. Set Up Meetings – With Yourself
You have a lot of choices to make as the owner. For your success or failure, you are accountable.
But we can get so wrapped up in running the day-to-day tasks of the
business that we fail to set up a moment to go through the big picture.
Being an employee, don’t get so wrapped up that you forget you are the boss. So, set up 30 minutes a week to go over the priorities, concerns, and how you can solve them in your business.
6. Pay For Marketing
If we could just put an ‘Open for Business’ sign on your door and have business flood in, it would be perfect! But that’s not always how it goes.
To buy our goods and services, our world needs us to get our name in front of people. So to invest in marketing your company, put some money aside.
Consider expenses on:
- On Google or Facebook, pay per click ads
- Leasing a booth for conferences
- Putting ads in the newspaper
- Marketing email
- Construction of an SEO-tuned website