Running a Business
After your business has been formed and your business plan has been established, it is time to run your business. You have probably already set revenue and profitability goals and you now understand the marketplace and the KPIs (key performance indicators) required to measure success. You’ve done your research and you have a solid understanding of the product or service you are offering and how you can market it to your potential customers. Here are three tips that will not only help you run your small business, but help it succeed:
1. Keep Your Business Protected
Disaster can strike at any time, and not only in the form of natural disasters or mismanaged orders. Flood, fire, data breaches, theft, lawsuits, and other unexpected events can devastate an unprepared company. One way to protect your company and offer a financial safeguard if a disaster happens is by obtaining Business Insurance. Business insurance can protect your intellectual property rights, physical property & products, and other assets owned by the company.
2. Maintain your Payroll
A solid system for Payroll will keep the wages distributed to your employees, whether it be in the form of a check or ACH, on time and accurate. Glitches in an improper system can not only raise the ire of your workers, but can also weaken the strength of your tax filings, especially if you undergo an audit. In today’s world many companies use an online payroll system which allows a company to enter all employee information, hours worked, compensation amount, desired date of payment, recurring payments, and other data electronically.
3. Prevent Intellectual Property Infringement
When you are finally done creating your logo, product, service, or invention, it is time to protect it from anyone trying to steal your work. Properly filing for a trademark, copyright or patent can be a headache without adequate preparation. Learn about what you can register, what kind of protection you can receive, and how to make the process as simple as possible using our resources below: