If you’ve recently started a new business you likely are overwhelmed with the growing task list that seems to take over your daily life. As a business owner you often wear many hats and keeping track of your revenue, profit and employees can be exhausting. Thankfully there is help for small business who are just starting out in the form of startup coaching. Alice Pallum of AMP Business Coaching loves to work with new business owners to help them ensure they start off on the “right foot” when it comes to building a business.
Common Mistakes Individuals Make When Starting a Business
• Not Separating Personal and Business Finances – Many business owners may start a business as a hobby or a side gig and never really put the necessary mechanisms in place to operate like a real business. This includes setting up some type of company structure, opening a business bank account, procuring any necessary insurance and licenses as well as keeping all of your business and personal expenses completely separate. If you do this from day 1, you’ll be miles ahead as your business grows.
• Not Focusing on Marketing – As business owners we’re often too busy working on our current business affairs instead of focusing some of our efforts on growing our business. You can only rely on referrals for a certain amount of time, which makes having a marketing plan that much more important.
• Ignoring Processes – When you’re just a one-person operation you likely have all of your processes stored in your head. This can become a problem when you start to add employees. If you start to document all of your processes from the beginning, you’ll be able to simply hand these processes over to other employees without skipping a beat!
• Not Looking at the Big Picture – As business owners we have to look at the big picture when it comes to growing our businesses. A startup coach like Alice Pallum can help you to focus on the big picture to ensure you’re making decisions that will pay dividends well into the future.
Ready To Hire a Startup Coach To Help Grow Your Business?
If you’ve hit a plateau in your new business and are looking for advice on how to grow you should give Alice Pallum of AMP Business Coaching a call today. She’ll be happy to sit down with you and offer a free business evaluation to pinpoint some of the areas where you can dedicate resources to help grow your company. Give Alice a call or text today at (612) 799-3991.