You have to stay on top of it, or it will climb on top of you and stress you out. Keeping three pieces of advice in mind can help focus your mind when to comes to handling the money for your business.

A chapter on teamwork further proved Shaq’s belief in enlisting the right people to advise and guide him. When it comes to writing a business plan, your products and services should be a major focus. Explain in detail what products/services your company offers and why these products/services make sense for the target audience identified in step two. Include information on pricing, delivery method, quality assurance processes, warranties, etc., if applicable. The goal is to make sure you have clearly articulated each offer and its unique selling point. This section should contain the most persuasive information on why someone should turn to YOUR business over any other. From simply listing the product or service itself to adding facts, figures, industry trends and market size – paint a picture of how your offering is helping to solve something for customers. Finally, don't be shy in presenting future plans (5-year plan template, if you have one) and ideas – now's the time to dream big! For you to legally operate your firm, you will need to get a number of business licences. For instance, you must register your company with the federal, state, and municipal governments. Before registering, you must prepare several documents. #9. Operating agreements and articles of incorporation The limited liability company is a popular form for small businesses (LLC). Moreover, t his hybrid organisation provides the legal protections of a corporation while still providing the tax advantages of a partnership. Property insurance covers the physical assets of your business, including your office space, equipment and inventory.You’ll officially create a corporation, LLC or other business entity by filing forms with your state’s business agency―usually the Secretary of State. As part of this process, you’ll need to choose a registered agent to accept legal documents on behalf of your business. You’ll also pay a filing fee. The state will send you a certificate that you can use to apply for licenses, a tax identification number (TIN) and business bank accounts.

Before you fund your business, you must get an idea of your startup costs. To determine these, make a list of all the physical supplies you need, estimate the cost of any professional services you will require, determine the price of any licenses or permits required to operate and calculate the cost of office space or other real estate. Add in the costs of payroll and benefits, if applicable.Thank your clients for their referrals. Everyone likes to be appreciated for what they do. Your customers are no different. Thank them for their referrals with a hand-signed card or small gift.