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6 Things Newbie Business Owners Should Know

If you’re a newbie business owner or considering starting a business of your own – congratulations. This could be the first step you take to get out of the rat race, and the best decision you ever make for your life in general. However, there are a few things you should know before you get started. Below you’ll find 6 things that newbie business owners should know.

It’s All About Green Business Practices

The first thing all newbie business owners should know, if they don’t already, is that it’s all about green business practices. Create a green business that cares about the environment is crucial – especially when many businesses are doing the exact opposite, and their reputations and sales are suffering because of it. You should focus on being green in the workplace – only printing if you have to, encouraging carpooling, etc. However, your products and delivery practices should also be green. Using recyclable packaging, for example. Western Colloid roofing systems can also help you to create a greener business premises. Take every step you can and people will likely want to know more about your business.

You Need to Have a Strong Handle on Your Finances

Having a strong handle on your finances is essential at any stage of business ownership, but especially so when you are just starting out. You need more than you think you’re going to need for emergencies, and you need to be unbelievably frugal. Even if you manage to get funding, you need to stay smart. Hiring an accountant and looking for advice could be a good idea if you’ve never been good with money. You can skip unnecessary purchases like fast cars and fancy computers while you get your business off the ground for the next few years.

Be Flexible – It’s All Employees Want

You want to remain flexible as a business owner, open to trying new things. However, you should allow your employees to be flexible, too. This is one of the essential perks employees look for today. People want more balance, and that often means working different hours than the traditional 9-5.

You Should Offer More Than Standard Employee Perks

Following on from that last point, you should offer more than standard employee perks. Things like corporate gym memberships can go a long way to making your place a desirable workplace, as well as keeping employees engaged, productive, and happy.

You May Need to Change Your Mindset for This to Work

If you have the same mindset you’ve always had, you may not be cut out to run a business. Your beliefs are always running the show in the background. Work on eradicating limiting beliefs before you get started.

Customer Retention Is Easier Than Acquiring New Customers

As soon as you get a customer, you should work on keeping them. Provide an unbeatable experience, and make them feel special. Follow up with them afterwards. Send them a freebie or even a gift if they are active in your community. Don’t let your valued customers go!

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