Getting a business up and running is both exhilarating and exhausting. Some simple strategies can keep it fun—without pushing you to the limit.
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updated September 1, 2023 · 3min read
Running a business can be exhilarating and rewarding, but it's also a lot of work. It's not uncommon to wear several hats—chief financial officer, marketing guru and human resources department—all while making sure that everything runs smoothly day to day. Here's an overview of some of the major responsibilities of running a new business, along with suggestions for getting help so you aren't trying to do it all yourself.
Every business has a physical location, even if it's a desk in the corner of your basement. If you plan to lease space, consider your budget, space requirements, parking, infrastructure needs, and expansion plans. A commercial realtor can help you find locations that meet your criteria.
When you find a property you like, visit the neighborhood at various times of day and talk to neighbors and other tenants in the building. Have a real estate lawyer review your lease and help you negotiate with the landlord for better terms. Be aware that your landlord's lease will almost always favor the landlord, so don't sign it until you've had someone review it and you fully understand all the terms.
Hiring employees might seem simple, but employment raises numerous legal issues and the consequences of doing things wrong can be serious.
Depending on how many employees you have, your business might be subject to a variety of anti-discrimination and anti-harassment laws. These can impact everything from the interview questions you ask to the way you promote, discipline, and fire employees.
Lawsuits claiming employment discrimination are expensive and emotionally exhausting, so take steps to avoid them. An employment lawyer can advise you, or you can contract with a human resources professional.
Always keep your business accounts separate from your personal finances. This helps preserve the limited liability provided by a limited liability company or corporation and makes your life easier at tax time.
For customers to find you, you'll have to actively market your business. Here are some tips:
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by Jane Haskins, Esq.
Jane Haskins is a freelance writer who practiced law for 20 years. Jane has litigated a wide variety of business disp...
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