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When you’ve got your small business up and running it’s easy to get lost in the excitement of it all. Forgetting about the important essential and fundamental things you need to do often happens as owners are caught up in organising all the more exciting aspects. Here is a quick reminder of the fundamental things to think about that might easily slip your mind:

Setting up the bills

Once you’re in your new premises it’s easy to forget about the realities like bills! Checking out what the best business packages are for your gas, water and electric bills is essential. Some companies, like United Gas and Power offer packages specially designed for businesses which are certain to get you the best deals. This way, you’ll not get caught short by a power cut a few weeks in.

Paying yourself

Often when business owners first work out how much their takings are and what they need to pay out month on month they forget to factor in their own wages. Despite the temptation to dip in and out of your profits as you please, it’s a much healthier habit to get into by paying yourself a set wage every month until you see how much you’ll be making on a regular basis.

Making plans

Small independent business owners often forget that if they have time off like a sick day, make plans to go on holiday or away for the weekend that their business will have to be closed and they won’t make any money. It’s essential to plan for these periods when thinking about your yearly profits and finances. Be financially prepared for taking what it essentially unpaid holidays and this should put you in good stead.

Be on call day in day out

Now you’re a small business owner, you have to live and breathe your business in order for it to be a success. This means that you have to check your emails day in day out for any press interest or potential client/customer requests. Make sure that you always have a Wi-Fi connection so you can deal with any potential emergencies whilst away.

Although some of these tips might sound obvious, you’ll be so stressed out setting up your business in the first stages it’s inevitable that some will slip your mind. By following this advice you’ll be able to get off to a great start and prevent any major pitfalls in the first few months.

 

 

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