You need to be on top of accounting, invoices, payroll, purchase orders, important documents like your business license and EIN, and so much more.
How you manage your profits can make or break your ability to survive long-term as a small business.
Know exactly who your competition is and try to figure out where you can bring value your competitors can’t match.
Think about fixed expenses (rent, utilities, payroll, vendors) as well as variable and surprise expenses.
As a small business, don’t be afraid to try out new things
You should constantly be marketing to some degree, whether that’s a newsletter to your best customers
After you’ve built sufficient savings, it is important to start investing in the growth of your business.