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From One Entrepreneur to Another: 5 Tips to Success

Starting a business of your own takes courage, dedication, motivation and a little expert advice from those who have gone before you! We know that creating a successful business takes time and a lot of research.

So to take some of the research off of your to-do list, we have interviewed founder and CEO, Richard Sorenson, of Dulce Vida Organic Tequila to provide you his 5 top pieces of advice to set yourself up for guaranteed success:

  1. You need to find your business on a service or a product that clients will see value in. While this may seem basic, this is the starting point that will launch your business towards success. Take the time to research who your clients will be and what your competition is.

  1. You will want to operate in a lean fashion, you do not need to be the expert at everything. To keep your focus on your customer, and your overhead low, outsource what you can! You do not need to be a web designer, a financial guru and a business owner all in one. Keep your focus on your product and client and leave the rest to the experts.

  1. Be accessible and create a means of communication with your client. Having a mobile friendly website that plays well with google is important to be found by potential customers. This is your first impression with your client, or possibly the way you are able to legitimize your company to your client. Not only is it important to be found by Google, but you should also secure an account on Instagram, Facebook and Twitter as these are vital for any marketing plan.

  1. As a small business owner, I am surecash flow is always at the top of your mind. But,  financial backing should be one of the first steps you take to open your business, but once that is set in place it is important that you continue to keep the cash flowing. To do this it is important that you are setting yourself up for success when taking payment from clients. Your payment platform should be secure, efficient and effective. You will also want to open a business banking account to separate your business funds from your personal funds, and to start building credit for your business.

  1. Make sure your business is organized the way it should be. Not only should you have a plan in place, finances set, a web presence, but it is important to make sure you have your legal ducks in a row. You need to register a DBA, form an LLC or incorporate your business, and register for a Federal Tax ID. Dependent on your service and product, it is important to file for any licenses or permits that your business may require.

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