12 Tips all business owners should know


September 25, 2017 Facebook Twitter LinkedIn Google+ Business Tips,Setting up a business



12 Tips all business owners should know

  1. Don’t run out of money.
  2. Hire the right employees for your business who perform their job well.
  3. Treat your employees well ensure they are highly motivated.
  4. Do not be scared to embrace change.
  5. Learn to be decisive and know the direction you want your business to be heading in.
  6. Your customers are always right, learn and grow from the positive and negative feedback.
  7. Do not tell everyone all your goals and ambitions, thoughts and woes, learn when it’s time to share and when it’s time not to share.
  8. Trust yourself, you know what you are trying to achieve and what you want, don’t let others deter you from your path, follow your instincts on what advice you follow and what you don’t.
  9. Copyright, patents, trademarks and trade secrets. Know the meaning of these and ensure you protect your intellectual property.
  10. Keep your business separate from your personal life, your business should be a separate entity from your personal finances.
  11. Keep track of your cashflow, know what’s coming in and what’s going out. Create budgets and have systems in place to collect any outstanding funds owed to you.
  12. Understand that you won’t have all the answer, recognize your limitations and have strategy’s in place to account for them.

 

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Extremidy Team
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