• Start Ups
  • E-Commerce
  • Insurance
  • Gig Economy
  • Tech
  • Office
  • Taxes
  • Law
  • Funding
  • Marketing
  • Infographics
  • Podcasts
  • Videos
Sign in
Welcome!Log into your account
Forgot your password?
Privacy Policy
Password recovery
Recover your password
Search
  • About
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Privacy Policy
Password recovery
Recover your password
A password will be e-mailed to you.
TheSelfEmployed.com TheSelfEmployed.com
Your Gig Just Got Easier TM
TheSelfEmployed.com TheSelfEmployed.com
  • Start Ups
  • E-Commerce
  • Insurance
  • Gig Economy
  • Tech
  • Office
  • Taxes
  • Law
  • Funding
  • Marketing
  • Infographics
  • Podcasts
  • Videos
Home Start Ups 10 Things Every Business Owner Should Know
  • Start Ups

10 Things Every Business Owner Should Know

By
Samantha Acuna
-
September 17, 2020
0
  • 1share
  • 0
  • 0
  • 0
  • 1
Share via
    10 Things Every Business Owner Should Know

    Are you preparing to start a business? Arming yourself with knowledge before you get too deep into this endeavor should help boost the odds of becoming successful. Here are ten things you should know when you're getting started:

    1. Talent Makes a Difference

    If you'll be hiring employees or outsourcing any tasks, it's essential to find the best talent possible. Network and surround yourself with like-minded individuals who are all striving to meet your business goals and objectives.

    2. Making Customer Service a Way of Life

    Your customers are your bread and butter. Treating them respectfully and offering excellent customer service can help ensure they keep coming back. Creating a loyal patron is worth much more in the long-term than trying to obtain new customers.

    3. It's Okay to Fail – Learn From Your Mistakes

    You'll bump up against hurdles when you're taking this journey. While you may not make the correct decision every time, it's essential to learn from your mistakes and move on quickly. How you react to challenges will go a long way in creating a positive outcome for your company.

    4. Business Apps Can Be Your Best Friend

    Completing your accounting requirements timely and accurately is critical. Taking the time to do this right will allow you to understand your business's current financial health and prepare you for tax season. There are several business apps available that you can use to make this task more accessible and efficient.

    5. Operate Your Business Separately

    As an entrepreneur, it's vital to keep your business's financials separate from your personal life. In case your business runs into a problem or emergency, consider looking into small business loans if you need the extra capital instead of using your personal money. At Lantern Credit, you'll find a term loan available, which they indicate is “a flexible form of financing that can be used for almost any business need.”

    6. Laws Are Complicated

    Understanding the legal system and how it applies to your industry and business should probably be left to a professional. A legal expert can help you maneuver through current laws and regulations and help keep you out of trouble.

    7. Investing in the Future

    Keeping up with new technologies may help your productivity. You may need to invest in them now to receive benefits in the future. It's also essential to tuck money away frequently for taxes and surprise expenses or opportunities. You can also look into getting small business loans. Lantern Credit indicates that a line of credit provides, “access to cash with no obligation,” which might be an option you may be able to utilize. Lantern Credit is knowledgeable about helping businesses use credit to their advantage.

    8. Setting Goals Is Important

    Setting business goals gives you a target you can try to attain. They provide an endpoint you can work on reaching, whether that's fiscally or operationally.

    9. Insurance Is Very Important

    You may end up in trouble if you fail to utilize insurance for your business. Taking the time to protect your company is well worth the annual cost.

    10. Protect Your Intellectual Property

    If you have intellectual property making your business special, it's important to protect it with a copyright or patent. Talking to an attorney is usually best when you have a trade secret or invention that sets you apart from competitors.

    Utilizing any of these tips should help safeguard your business from running into unwanted challenges. It's best if you can get prepared early to handle all of the responsibilities a new business owner faces.

    Previous article Business Opportunities Using a 3D Printer in the Era of COVID-19
    Next article The Steps You Need To Take After Being Involved In A Car Accident
    Avatar
    Samantha Acuna
    Samantha Acuna is a writer based in San Francisco, CA. Her work has been featured in The Huffington Post, Entrepreneur.com, and Yahoo Small Business.

    Recent articles

    6 Silly Myths of Self-Employment
    Gig Economy

    6 Silly Myths of Self-Employment

    Anna Johansson - January 19, 2021
    When is it Time to Hire a Team of Employees or Contractors?

    When is it Time to Hire a Team of Employees or...

    January 19, 2021

    Simplifying Business Processes: Here’s How Hiring Can Be Better

    January 18, 2021
    6 Ways to Achieve a Positive Mindset and How it Will Help You Succeed

    6 Ways to Achieve a Positive Mindset and How it Will...

    January 15, 2021
    4 Tips for Building Your Creative Business

    4 Tips for Building Your Creative Business

    January 14, 2021

     

    Follow & Subscribe

    Newsletter Signup

    Signup to get weekly tips and advice to help make your self-employed journey easier!

    Thank you!

    Please check your email to confirm your subscription.

    © 2021 - The Strauss Group, Inc. All users of this site are protected by our Privacy Policy and bound by our Terms of Use