Being a business owner isn’t for the faint of heart as each day brings its own set of challenges. If you’re going to be successful, you must understand how to find your way through them while at the same time, doing what’s best for your business. Yes, each day is different with some being better than others – but after all, isn’t that part of what makes the entrepreneurial journey so rewarding? Speaking of the journey and all those incredible rewards there are certain things you have to get done in order to be in position to reap them. There’s marketing to reach your target, financing the operations and customer service among other things. But, before any of those key areas are addressed, your first order of business … should be making sure your business is set up properly. This is an area of extreme importance and as part of our ongoing series, we’d like to take a few minutes to touch on some key to-dos.
Phone Number
This one might seem so simple but in many cases business owners skip this important step of the setup mix. A business phone number doesn’t have to be a separate cell phone or a line that rings to an office space. Seriously, let’s face it at this point in the growth phase, you’re probably trying to limit your overhead expenses. So, with that, keep this piece simple. Consider adding a business phone to your current cell phone number that shows the name and number of your business when the call comes through. This way you can answer the call correctly and most important of all, keep your personal and business separate at only a fraction of the cost you might otherwise incur.
Build Business Credit
Credit comes in handy at certain points in our personal lives. A busted hot water heater, car repairs, or any other last-minute emergency all prove just how big of a role that tiny piece of plastic plays in our lives. The same holds true when it comes to business. The emergencies might come dressed up differently, but they’re emergencies, nonetheless. Buying a new piece or repairing an existing piece of equipment, purchasing materials, or any other business-related expense are times when business credit can make a difference. As you begin planning to make your entry into the market, take the necessary steps to build business credit. For more information on how to do this, be sure to check out the following piece The Basics of Business Credit – The Coley Group (coleybusinessplans.com).
Get Business Insurance
Business insurance can save your business when it comes to things like injuries to key members of your staff, lawsuits, and damages to property. All of these things come typically come with a rather steep price tag that could cripple or close your doors. With that being said, take the time to find a reputable insurance provider who can guide you through the process of securing the types of coverages you’ll need for your business.
Conclusion
Setting your business up properly is one of the best investments you as a business owner will ever make. As we said before, being the boss comes distinct sets of challenges. We think we know, but we never know what the next day will bring but … that’s what makes this journey such a joy. When you find yourself ready to make the leap, make sure you do the necessary legwork and make sure your business is established on a firm foundation. Sometimes, understanding what needs to be done, when, and how can be a challenge. If you find yourself having difficulty when it comes to setting up your business, don’t skip or put off a step. Instead, call the professionals at The Coley Group. Our staff is filled with MBA leaders who have decades of experience helping customers like you navigate these all-important steps. Feel free to contact us at 817-813-1929 or visit us on the internet at www.coleybusinessplans.com for more information.
