Written by Tom Barnhill
1. Focus on Passion, not Sales
Your potential clients don't want to be sold something. They want to share in your passion. If they believe and support your passion, then they will be willing to invest their money in you.
2. Make your Finances a Priority
Always keep your eyes on the numbers. If you don't feel capable of handling your bookkeeping personally, you should definitely outsource this task, but don't ignore it completely. It's best to review your financial reports monthly. Greater success comes to those that use their financial information as a tool to learn about their business.
3. Budget your Business
It’s important to create a budget and understand where you are spending your money. Knowing how much money you need to spend will also help you determine how much revenue you need to break even. Having this information is critical for your ability to make good financial decisions for your business, especially in the first couple of years.
4. Know When to Say No
Don't be afraid to turn down a project or client that isn't the right fit for your business. Choosing to work with a bad fit out of desperation will only result in more stress and can potentially harm your business overall.
5. Outsource to Professionals
There are certain tasks that need to be completed for the benefit of you and your business, but that doesn't mean that you need or should do them yourself. Professionals like lawyers and CPAs are invaluable resources and if your budget allows it, you should let them handle those tasks. Their efforts nearly always pay for themselves in the long run and can help you avoid much more costly, and sometimes business ending, mistakes.