Introduction

Welcome to the Nerdy Business episode of The Smart Money Podcast. For this episode, we’re going to talk about setting up your business correctly for success. This may seem like a simple process but believe me when I say there’s so much more behind it than just getting your name out there and hoping for the best. In this episode, we’ll talk about how balance is key in every aspect of life and business. We’ll also be discussing how defining clear goals helps you on your path to success, as well as when there’s something you’re unsure about—don’t be afraid to ask for help from an expert!

Setting up your business correctly is only the tip of the iceberg when it comes to success.

Setting up your business correctly is only the tip of the iceberg when it comes to success. You can have all of your ducks in a row, but if you don’t keep track of your finances, don’t set goals, and don’t think long-term—you’ll likely fail.

To ensure that this doesn’t happen to you: genyoutube download youtube video

• Think long-term. Look ahead at least three years into the future and ask yourself: “What do I want my life to look like?” Don’t just think about how much money you’ll make or what kind of lifestyle you want; think about how much time you want to spend with family members, whether or not there are certain things (like travel) that are non-negotiable for you as well as what type of work environment would be most ideal for achieving these things. This will help guide decisions when it’s time for hiring employees, creating budgets, negotiating contracts, etc., because everything should be based on what type of business owner(s) they’re looking after!
• Set goals each year by breaking them down into smaller chunks throughout the year (quarterly). You may want to increase sales by 25% over last year by December 31st 2020; however after breaking down those numbers further into quarters it might look more like an increase by 5% per quarter under certain circumstances such as having new product lines released which decreases overall sales due their higher price points versus existing products but brings more profit within each sale due lower production costs due automation capabilities along with increased marketing spending in Q2 2020 due higher advertising rates from various online platforms during this period before decreasing again before end

Balance is key in every aspect of life and business.

There are a lot of things to balance when it comes to your business. You need to balance your work and personal life, as well as the goals you have for both.

One thing that can help you achieve this is having a schedule that allows you to set aside time for both areas of your life. If you don’t make time for yourself and your family, then it will be hard for them to feel like part of the business too! While we’re on the subject…

Defining clear goals helps you on your path to success.

Defining clear goals is one of the most important steps in setting your business up for success.

By defining your goals before starting, you can break them into smaller chunks and make sure that each step along the way is helping you get closer to your ultimate goal.

Your goal might be making $1 million dollars by 2020 or rescuing 100 dogs from dog shelters by 2021. It doesn’t matter what it is—as long as it makes sense and feels doable to you, then it’s a good goal!

When breaking down these big picture goals into smaller steps, take some time to define what success looks like, feels like, sounds like (you could even add an aroma), tastes like (again with the aromas), etc… Defining these things will help keep yourself motivated through those times when things aren’t going so well!

When there’s something you’re unsure about, it’s always good to ask for help from an expert.

When there’s something you’re unsure about, it’s always good to ask for help from an expert. The right person can make all the difference in your business.

An expert is someone who has done what you want to do and has been successful doing it. This could be an author, a consultant, or even your mom (if she likes to sew). Someone who has been through what you’re going through will have insight and ideas that can save time and money down the road; they’ll also give you a better understanding of how things work in the real world. If you know nothing about running a business but are ready to start one, then ask for advice from someone who has already done so successfully—someone like Bill Gates or Mark Cuban would be great resources!

Ask for help when you need it.

One of my favorite pieces of advice is: “Don’t be afraid to ask for help.” Running a business can be isolating and stressful, so it’s important to surround yourself with people who have experience in what you’re doing.

If you don’t know much about marketing, marketing experts are there for you. If your budget is tight, business partners will be able to share their knowledge and resources with you. There are plenty of online communities devoted to helping other entrepreneurs—for example, there’s one called Startup Grind where I’ve been able to meet like-minded people who offer me feedback on my business ideas.

Plus, asking for help doesn’t always mean handing over all responsibility for something! You might need just one piece of advice from someone who knows more than you do—and once they give it (and maybe even provide some resources), it’s up to YOU how well YOU implement it into your own plan.

Conclusion

In the end, there’s no magic formula for business success. But if you follow these five tips and always remember that balance is key, you’ll be well on your way to achieving your goals.