3 Tips I Believe Every Business Owner Needs to Ensure Success
Tip 1: Make your estimated tax payments
One important aspect of running a successful business is paying your taxes and paying them on time. You wouldn’t think that you would have to tell bookkeeping professionals this, but everyone is at a different experience level and I want to make sure that any newbies here get off on the right start. Many business owners tend to overlook this aspect of their business, which can lead to serious financial and legal consequences. To avoid this, it's crucial to make your estimated tax payments and make them on time. By doing this, you'll be able to avoid penalties and interest charges that can quickly add up. Because we NEVER want to give the gov’t more than they are legally due.
Here are fours ways you can calculate your estimated tax payments
Use IRS Form 1040-ES
Calculate based on prior's year tax liability
Use an online tax calculator
Work with a tax professional
Tip 2: Ignore the Naysayers
As a business owner, you're bound to encounter naysayers (or who I call negative nellies) who will try to discourage you from pursuing your dreams. These may be well-meaning friends, family members, or even other business owners who don't believe in your vision. However, it's essential to ignore these negative nellies and stay focused on the dream and goals you believe God has given you.
Here are 6 ways you can ignore the naysayers
Believe in yourself
Focus on your goals
Don't take it personally
Surround yourself with positive people
Use criticism constructively
Obey God and Leave all the Consequences to Him
One of the most crucial aspects of achieving business success God's way is to obey God and leave all the consequences to Him. As a business owner, it's easy to get caught up in the pursuit of success and lose sight of what's truly important. However, by putting your faith in God and trusting Him to guide your steps, you can achieve true success and fulfillment.
So….how do we know what God’s will is for us and our business? We spend time in prayer and reading the Word of God (the Bible) to hear Him speak to us and then watch for Him at work throughout the day and then join Him in His work. Because if He’s already working in a particular way, and He reveals it to you, that is His invitation for you to join Him. And that’s when business becomes fun!
Remember that success is not just about financial gain, but it's also about making a positive impact on the world and living a life that honors God. By following His commands and leaving the outcomes to Him, you can find peace and purpose in your business, regardless of the challenges you may face.
For a deeper look at this topic, you can listen to episode 13 on my podcast on your favorite podcast app or on the podcast page on this site.
Talk to you soon!