Category: New Business
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Systematizing the Business You Inherited: How to Run It, Document It, and Delegate It
Systematizing the business you’ve inherited is one of the most important steps you can take after buying or inheriting an operation. A business is a complex machine, and when you step into ownership, you often don’t know how each part works. Systematizing the business gives you clarity, control, and confidence. And if you still have Read more
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Stop Drowning in Tasks: How the Automation/Delegation Snowball and Bookkeeping Outsourcing Can Free 80+ Hours This Year
Have you or anyone you know used the snowball strategy to pay off credit card debt? When you do delegation, it can work the same way, like bookkeeping outsourcing for small business owners. The idea is simple: start small, gain momentum, and let your wins compound over time. Let’s say you have three credit cards: Read more
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Using Your USP to Get Customers
Getting customers: Your USP (See Ready, Fire, Aim) In an earlier post, I wrote about the optimum selling strategy. Your OSS answers these 4 questions: Number 4 includes an idea called the Unique Selling Proposition (USP). When you know your USP, you have the key to what will make your advertising the most successful. The Read more
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Should I Give Discounts to Family and Friends?
But They’re Family/Friends! Aren’t I SUPPOSED to Give Them a Discount? Should I give family discounts? Should I give discounts to friends when I’m just starting my new business? Short answer: No. When I was getting started in business I was surrounded by people, particularly church people, who were so parsimonious they could make a Read more
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Simple Rules About an Employee’s Final Paycheck
If you have a business in Alaska, you’ll learn the simple rules about giving an employee their final paycheck. Getting good help can be hard if you don’t know where to source good workers. It can also be challenging due to a difficult and lengthy onboarding time. When you’re just getting to where you can Read more
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5 Biggest Wastes of Money Starting a Service Business
You got into business to serve others and make their lives better. However, when starting a business, there are so many things people THINK they need. When shelling out money for these things, they unwittingly take on extra stress. Sometimes they’ll even get into debt over it. That doesn’t have to be you. Here are Read more
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The 3 Kinds of Mentors You Need in Business
When you’re starting a business, there’s more to running it than just doing the work people pay you for. A publisher has to do more than sell books, a lawyer has to do more than work on cases, and the baker has to do more than bake. Making something new is super hard, as seen Read more
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Stop Wasting Time on Your Books! Business Bank Account
Each day you use a personal bank account for your business, you create more work for yourself. In this starting a business series, we talked about different types of business structures here, here, and here. Now we’ll talk about the easiest thing to get right that many don’t: opening a business bank account and only Read more
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Make it Easy to Choose: S-Corp or C-Corp
In a previous post, which was a simple infographic, I presented the differences between a multi-member LLC and a Partnership. Before that, we talked about the sole proprietorship vs the single-member LLC. In this post we’ll cover the next two most common business structures, the S Corporation and the C Corporation. Both benefit from a Read more
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Your EIN – What is it? How to Get an EIN Easily
Some places like your bank, accounting software, and certain tax forms ask for an EIN. But what is an EIN, and how do you get it? You may have been asked for an EIN in the past and then told your social security number will also work. What’s up with that? An EIN stands for Read more