1) Pay less for things. Take a look at your top 10 business seriously and immediately reduce the costs of these services. Things such as lawyers, accountants Bookkeepers services / car, cable and Internet, to name a few. Look at the payroll and personnel. Decide if it can delegate tasks and start working with a virtual assistant. This simple change will make money. Approach your current suppliers and renegotiate lower rates. If there is no room for renegotiation, consider finding new partners for cheaper services. Your bottom line savings. Worthwhile exercise.
2) You pay first? Set the maximum allowed in an IRA, 401k or defined benefit plan. There will be no money for you, not only your business, if you pay yourself first. Your money will grow continuously and be there when you need it.
3) You have a proper tax strategy? You’re in the right place to establish a tax standpoint? If an LLC, Corporation, etc. Make sure the initial work to establish this and reconsider if you would benefit from tax and business wise.
4) Do you know how to deal with worries? And confidence. Choose five things you need to decide before the end of 2010 and use this formula.
• Identify a problem
• write down
• Determine what you can do
• Decide
• Take action now
5) Do you have a support network? It’s just a small business today. Small business owners are different. They are constructed differently than anyone else. Subscribe to business networks and organizations to get involved, make friends and business associates. Best practices and innovative ideas to succeed.