Small Business Tips
A business plan is your blueprint to building a successful enterprise. A new business owner typically runs into trouble with cash flow because he/she:
- Fails to recognize seasonal trends in his/her business.
- Takes too much cash from the business for living expenses.
- Expands the business too quickly.
- Extends credit to customers.
- Neglects to correctly file and pay taxes in a timely manner
Important keys to success:
- Solve problems while they are still SMALL.
- Pursue one business idea at a time.
- Keep personal finances separate from business finances.
- If you are going to build a thriving business, you must keep your personal debts to a manageable level.
- The customer is always right.