As a business owner(s), there is a considerable amount of weight resting on your shoulders and you have to be ready for anything that may come your way.

Now… I am a person who likes to be over-prepared (some days it is a blessing, but other days I would like to send it back). The tips below are everything that I took into consideration when starting my business.

Money … is one of those things that should be closely monitored. It can be easy to go over your spending limit when you look at all the items you will need or want. The best way to be prepared is to create a budget of what you are willing to spend and monitor your cash flow.

Now, this would be a time to talk with your lawyer and accountant on the things that you will need, such as, a business record (in good standing), EIN (employer identification number), and any other records/fees that may apply in your state (check out the secretary of state website).

Neglecting marketing … is something that you don't want to forget. If people don't know about your business, how will people spend money on what you provide? Be aware of how you market and know that sometimes it can be too much.

I have done this one first hand. At the beginning of my business, I was consistent with my marketing but I was putting out an overwhelming amount of content to everyone, and to be truthful, I was pretty overwhelmed too. I then reevaluated my marketing plan to reduce the amount of content and time it was taking me to focus on only that portion of my business. Then I discovered most of my marketing plans and slowly lost followers.

There has to be a balance between the amount of marketing content you display to your demographic or not showing enough to your audience, you will need to find your happy medium, be patient this usually takes time.

Lack of planning … is not knowing what direction you are wanting to take as you get moving, this is very common and sometimes this is one of the most frustrating parts in the beginning.

Take the time (I prefer when it’s quiet) to set your goals out for certain years and add action plans or steps you need to take to achieve your goals.

Each day take actionable steps to further where you are at that day compared to last. Don't be afraid to take a day of rest from a project and come back to it at a later date with a clear mind (this is what I do for the majority of my articles).

Connecting with others … helps get your business out there and helps others understand what you do. Networking is a very important part of a business, you never know who knows who or who can help.

With virtual meetups becoming more popular and the number of in-person meetups expanding each day, there are oodles of events to choose from.

Okay...okay… always easier said than done because I know I am fully guilty of seeing an event that would be a good connection to attend but, I NEVER SIGN UP! Once you start, it will get easier each time when going to sign up, bring a buddy to make it even more fun too!

Time Management … is making sure you get to your “million dollars” task before the “zero dollars” task to help create profits quicker and more efficiently.

This goes well with planning out your days, action items, and goals.

Write out a list of your “million dollars” tasks that you know you have to personally do to help bring in profit. Well, what does this include for some; lesson plans, leather sewing machines, or creating designs.

Write out a list of your “zero dollars” tasks that will bring little to no profit. Well, what does this include for some; updating your accounting sheets, cleaning up your area/station, or organizing papers/records. These are items you can always outsource or hire someone to do, that way you can focus on the tasks that will make you the money Revenue!

Both are equally important but manage your time with both the “million-dollar” tasks and the “zero dollars” tasks.

Comfort Zone … know what you are comfortable with and don't be afraid to say yes and don’t be afraid to say no at other times.

We only skimmed the top of the surface with this topic, but connecting with others, knowing where you want your business to be, and what you feel comfortable with can help alleviate that feeling

Yes… sometimes you need to get out of your comfort zone to grow, but it will be rewarding when you say “yes I am going to create that YouTube channel about equine and talk in front of millions if not billions of people that may have an interest in what I will be talking about.”

Poor Management … tends to create major rifts within the organization. It can create a high turnover rate with constant training of new staff that can be very expensive and frustrating.

The majority of people have been in some kind of poorly managed job at some point, it’s not a fun atmosphere to be in. Know who you are hiring and what kind of workers they are, review them at least annually, and ask them to evaluate employees and yourself. Provide proper training and constant education and make sure employees know you are trying to help grow them, not scold them.

Don't forget about yourself. Sometimes owners are not the best managers, know your place as an owner and you can always hire others that are good at the things you are not.

Limited Resources … at the beginning of the business journey is common, especially when deciding your business's budget.

Make a list of things that you will NEED not necessarily want right away. As time goes on while you are growing your business, you will learn things that you may want to change or grow differently than you planned on doing in the beginning. Having the few resources you have ready for that will allow you to pursue that path more efficiently than if you purchased all your wants in the beginning.

In Conclusion…

With any business, there will always be something that pops up whether it be positive or negative, at some point within a business. Being prepared and having these items in mind can help you tremendously with how you can react to the situation.

Even if you aren't a startup business, some of these tips are great to grow from and learn where you want your business to go as time goes on or just a nice refresher on things to keep in mind.

Thank you for joining the Equidae Family here at Benner Stride!

What are startup issues that you know or have happened to you and how did you overcome the hurdle(s)? Write it down in the comments.