Agile Legal’s Post

Opening a business checking account that's separate from your personal account is one of the most powerful things you can do for your business. Curious why? We've outlined five different reasons a commercial account is a wise move for your new business. Read on for more information: https://pxl.to/g5q1nfr

#Business #Tip : All business agreements come to an end at some point. Plan for that from the beginning and account for the different scenarios as best as possible. Ideally you separate on good terms, with the potential remaining of working together again in the future.

One of the biggest mistakes that you are making as a business owner is holding unto control. YOU are in control of the time that you decide to sell your business. Make sure that your business is at its best when you decide to sell, and speak to an M&A advisor today!

The business relationship has soured, and you're struggling to see eye to eye. Here are four ways you can resolve your business dispute: https://bit.ly/49TmMki

If you own a business, one key decision you'll have to make is what entity structure you select. Each type has its own pros and cons, and it's important to fully consider what is right for you and your business. Check out our guide for an overview of some common types: https://lnkd.in/e4xc_5_i

Remember, as a business owner — no matter what size your business is from large to small — your business cannot do everything. Do not stretch yourself or your resources too thin. Outsourcing is always a good way to go to bring in experts so you can focus on your area of expertise. https://lnkd.in/gAie8EiJ

A business will never be profitable unless it has a clear business plan* *according to one ATO RFD

According to the 20:80 principle... 20% of all input is responsible for 80% of all output. If that is true, that means ... 20% of Business Activity, is responsible for 80% of Revenue. If you apply the 20:80 rule to the 20:80 rule, (20% of 20%): (80% of 80%).... in simple terms 4% of business activity is responsible for 64% of revenue. As a business owner, delegate everything which is not this 4% and double down on this 4%. This 4% accounts for over half of the all revenue... if you want to smartly grow and scale your business then this is where your attention needs to be. Action Points: Make a list of all business activities, and which actually result in revenue, then delegate the rest to someone else.

We would rather you review small P&L reports for each individual job/project you work on, rather than trying to manage your business with a single P&L. If you can ensure each job stays within budget, you're halfway there to a financially healthy business and peace of mind.

Outsourcing a VA can be a game-changer for your business. With a VA by your side, you can focus on what truly matters - growing your business and achieving your goals. Streamline your workflow, boost efficiency and experience the freedom of having a reliable virtual partner. Send a DM to learn more!