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Time to Tidy Up the Business

March 1st, 2010 No comments

With all the new laws and regulations coming out lately and old ones now being enforced it might be a good time to ‘clean up your business’ or get things in order, ya know, the spring cleaning.

Do an annual legal review.  Yeah, I know lawyers are expensive, but several hundred dollars is far cheaper than several thousand dollars and your lively hood shoved down the drain.  Lawsuits are a kill joy.  Talk to your lawyer and make sure you are talking to one who is knowledgeable about your business and one knowledgeable about the internet.  Explain your plans, now and in the future and ask about all of the laws you are suppose to be following.  Are you complying with them?  And don’t forget asset protection.  Is your business set up right?  Are you paying taxes on your e-commerce?  Go down the line and make sure you are toeing it.  Take this year and get things right.

Domain renewals.  Have them changed to renew in the same month, preferably the same day.  Sell domains and or websites you are not using, not really planning to use or not making much money.  The same thing with subscriptions and memberships.  Do you really use them?  Do they really bring you enough value to pay for the monthly cost or your time spent on them, if you spend time on them.  Same with other gadgets, if not using it – get rid of it. Clean up your hard drive, get some space back.

Software updates.  Once or twice a year make a date to intentionally check for updates for all the software you are using.  Make these dates permanent events on your calender.  Not all software automatically updates or sends you reminders (that end up in your spam box).  Don’t forget to update the email list in your autoresponder.  If they haven’t purchased anything in the last xx months or even opened your emails get rid of them.  They are costing you money.

Bookkeeping.  If you are not up to date DAILY, you are not up to date.  You have no control over your business no matter what you think.  Make a point to stay caught up and get the reports you should be getting about your businesses finances.  Get a bookkeeper and at the least review with her monthly your income and expenses.  Get a account or cpa and talk and review with them quarterly about what you want to do with your business and the condition of your finances.  Do you have the money to get there.

Time wasters. Quit reading email from people/businesses that you don’t act upon or affect your business.  Unsubscribe or block them.  If you can’t make social media and web 2.o profitable for you stop using it or hire someone to set it up proper so you do make money with it.  If you are not making money with it get rid of it or fix it so you can make money with it.  Is it really necessary to tweet about everything you do?  Must you see every email?  Watch every webinar?  Go to multiple conferences every month or year?  Spend hours networking in the bar or sorry, I meant clubs? Buy all those upsells that you can’t figure out how to use, have nothing to use them on, or worse, know that you will never use?

Basically, if it doesn’t help you make money get rid of it.  If it does not keep you in compliance with the laws get rid of it or fix it.  If you don’t have a clue where your business is financially and you can’t tell if a new product will help your business financially – get help NOW.

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