Keep your eye on your plan, your vision
Try to put your goals on one page and pin it above your desk so you can be reminded regularly of where you want to be.
Understand cash flow
Remember, cash is king. You need to understand the difference between profit and cash, if needed get help to make sense of it.
Don’t put garbage in — and expect to understand it later
If you put garbage in, you will get garbage out. Many small businesses start off keeping simple records but soon realise that their system is inadequate once the business is up and running. It will make your life easier and improve your business if the systems you have in place are there to work for and assist you. Getting help can be an effective cost-saving strategy.
Run your business
One of the most common issues for business owners is time, or lack thereof. Running a small business means you have to be the marketer, sales representative, product development expert, finance manager and another half-dozen different roles.
The biggest mistake that small business owners make is not treating their business as a business. Give it the respect it deserves. It should be run the same as big business — just on a smaller scale.