Tips for Business Owners (Roundup)

If you could give a business owner one tip, from your area of expertise, what would it be? I posed this question to multiple professionals, from varying areas of expertise, all of whom have many years of experience servicing business owners.

Tom Hobbs

Hobbs Solutions Consulting

“The one tip I would say to a business owner is this: After you read all the management books and see that they are all pretty close to each other. Decide which tools fit your personality best, set up your company using them. BUT, most importantly, then take control of your calendar and plan a specific time for pursuing your goals - both Professional and Personal. There is no such thing as work/life balance, so do not disconnect your goals from each other.”

LinkedIn: https://www.dhirubhai.net/in/tom-hobbs-24aa8a13a/ 

Email: [email protected] 

Warren Morten, Esq

Morten Fairchild, PC

“When starting a business relationship, like a partnership, people are excited at the beginning and usually agree on how things should work moving forward and how to solve potential disagreements and valuations techniques. So, take advantage at that time, and put on paper how that relationship will work and how the flow of funds should work.  Disagreements and fights are inevitable, especially when money is involved. But if the relationship and flow of funds are sufficiently documented and clearly drafted, you can look to the formational documents and end any such disagreements before they negatively impact the business or relationship. As your business relationship changes and evolves, update your documents to reflect those changes. Again, should there be a fight among business partners, what’s in writing will be presumed to be correct even if there is an oral agreement or actions modifying that initial written agreement. So, save yourself the headache and update your documents as you evolve. (*I’m using “business partners” generically for any business relationship)”

Website: https://morfairlaw.com/

LinkedIn: https://www.dhirubhai.net/in/warren-morten-24206a6/

Email: [email protected]

Dena Amato

Mobile Chiro Care

"Most practitioners in my field are drowning in high overhead and high volume practices often hitting a wall of 'burnout.' Consider putting the focus on quality over quantity. Donate your time for lunch and learns to help support and educate local businesses and in turn, this will create a relationship and opportunity of an established wellness program for the company. Stop wasting time billing insurance to get paid mediocre. Instead, invest your time creating wellness in the workplace for companies that can afford it. After all, healthy employees form the foundation of successful businesses. "

Website: www.mobilechirocare.com

Email: [email protected]

LinkedIn: https://linkedin.com/in/dena-amato-b009aa59 

Marc Lazarus, Esq

Russell & Lazarus, APC

"When you are in the service industry, always treat your customers as you would want them to treat you. One of the best ways that you can show your clients your appreciation for their business is to give your clients your personal cell phone number and allow them to text you or to reach you after hours.  That personal access means so much to those who have placed their trust in you as their hired professional. Now, you may worry that a client will call you too much or take advantage of your time after hours, but do not worry about that. You will find that almost all of them will be respectful of your time and call you at your business during business hours for most things. But, there are times when people will feel anxious about their matters and that does not always occur between nine and five. When your clients need reassurance during stressful times, just knowing that they have access to you will help them to feel better and strengthen your relationship with your client in ways that cannot be done otherwise.  Also, when a client sends you a text or an e-mail, please remember to acknowledge receipt of it. They have sent you something important to their matter. At the very minimum, let them know that you received it with a short response (ie “received”) as soon as you get it. That shows them that you appreciate their time for sending you what you need in their matter. Last, never forget that clients hire you because they do not have the knowledge or the experience that you possess that makes you so good at what you do. So, always be patient, show respect, listen to what their stressors are, and talk to them in English, not technical jargon. Do not speak to folks in a way that is meant to speak down to them and do not try seem like you know more than your client. That is demeaning. Express ideas (technical or otherwise) in clear, down to Earth terms that everyone can understand. Doing so helps to strengthen the relationship between you and your clients and paves the way for them to send you their friends, family, and colleagues when they ask who do they know in your profession. " 

Website: www.russellandlazarus.com

Email: [email protected]

LinkedIn: https://www.dhirubhai.net/in/marc-lazarus-01b150b/

Jason Starkman

State Farm Insurance

"Many business owners forget that one accident, one lawsuit or one angry employee or employee candidate, can ruin the entire business. I suggest meeting with your risk advisor (insurance agent) at least once a year to review things that have changed in your business over the past year. [An] increase in revenue, new equipment, a remodel or new employees would all change the insurance coverage that you need. And if you don’t have an EPLI (Employment Practices Liability) policy, get one immediately!"

Website: www.starkmaninsurance.com

Email: [email protected]

LinkedIn: https://www.dhirubhai.net/in/jasonstarkmanstatefarm/

Christine Petty

BenefitMall

"Many business owners do not realize the importance of streamlining their payroll [and] HR services. [The right payroll and HR provider] offer varying levels of HR solutions that keep you and your business compliant, all while simplifying your payroll and keeping your employees paid on time. From hire to retire, partner with a company that puts you first and provides a holistic approach to your needs."

Email: [email protected]

LinkedIn: https://www.dhirubhai.net/in/christine-petty-39704878/

Kate Kelso, Esq.

K. Kelso Law

"As an estate planning and general contract attorney who is also the sole proprietor of her own law firm, The Law Offices of K. Kelso, the most meaningful piece of advice I could give to another attorney with a solo/small practice is simple: don't panic. It can be scary out in the world on your own, making tough decisions without input and your money on the line. Don't be discouraged; Get involved with your local legal community, find mentors who are open to providing guidance, and ask for help. Join groups or forums that discuss recent changes in the legal landscape. Estate planning is at the mercy of constantly shifting tax laws, so being informed dispels a lot of anxiety for solo practitioners in my area of expertise. While it can be overwhelming to juggle being a lawyer and a businessperson, it helps to set benchmarks for you and your business. Above all, don't quit. Soon panic will be a distant memory and you will get contacted by new attorneys trying to start a fledgling practice. Don't forget to pay it forward."

Email: [email protected]

Website: https://kkelsolaw.com/

LinkedIn: www.dhirubhai.net/in/katekelso/