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Useful Tips When Running Your Own Company



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The more successful companies often make it look very easy but there are many different aspects to take into consideration. Here are some useful tips when running your own company:
  • Never get behind with your tax as it can prove nearly impossible to catch up
  • Do not depend too much on one or a small group of customers in case they let you down
  • Treat friends, family, acquaintances and employees exactly the same if they work for you
  • Ensure that you have the legal framework in place to cover yourself in the event of any accidents
  • Keep a very close eye on cash flow
  • Attracting new customers is the Holy Grail but ensure that you keep existing customers
  • Be competitive with pricing but do not get involved in a race to the bottom
  • Quality will always rise to the top so do not compete with inferior companies
  • Always have an end game in mind
  • If possible build up a war chest of cash the event of unforeseen expenses