Separate Your Personal & Business Finances – Business financial troubles seeping over into your personal financesĢ. Which would suck, but at least you wouldn’t have to foreclose on your house just to pay off what you’re getting sued for… you know? I’m not saying your business will get into legal trouble-most small businesses never do.īut just in case you accidentally used a name that was copyrighted elsewhere in your state or get a totally horrible client that completely screws you over even though you have a contract… the worst thing that can happen is your business dissolves. Some service professionals like writers, designers, and coaches feel safer skipping this step while they’re still ramping up their client base, but it usually costs $1,000 or less and almost instantly protects your personal assets from any legal trouble your business might get into. Set Up an LLC (or Some Form of Official Business Entity)Įven if you’re totally self employed, don’t have anyone else working for you, and are 100% self-funded from your own pocket, you need to set up your business as a separate taxable entity from day one. So today we’re going to focus on management tips-people management, time management, money management-you name it.īut they’re all tips that’ll help you as a new small business owner manage your business better so you can avoid unwanted headaches and just push forward to the progress you want.ġ. It’s stuff that we’ve all got to figure out along the way, and that most of us make some sort of horrible mistake over.Īnd especially when we first get started in business-when we don’t have years of experience to help us make smart, educated guesses-business management tips and advice from others can be incredibly helpful.
None of us are born with business smarts or an entrepreneurial playbook pre-printed into our brains. When you’re just getting started with your small business, simply deciding which goal to tackle first-and knowing what to do and when-can be a job just by itself. 15 Small Business Management Tips That’ll Save You 40 Headaches Everyday
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