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Forget To Do These Crucial Business Tasks At Your Peril!

Estimated reading time: 2 mins

Essential. That is what some tasks are when you run a business. In fact, if you forget them, you could be putting your company and its long term success in serious jeopardy! Happily, you will find a guide to the most important of these sorts of tasks below. Just keep reading to find out what they are. 

Create a customer database

A customer database is one of the most essential things you can create when running your business. In fact, for many companies, it is the people that have bought from them before that make up the majority of the customer base. After all, it is always easier to sell to someone that already trusts you and has had a positive experience. 

To that end, you need to create a customer database that is not only thorough but easy to manipulate and search as well. In fact, by doing this, you can make your marketing tasks much more effective and so help your business to be as successful as possible. 

Register for tax

You can get into a lot of trouble with the government if you forget to register your business for tax. In fact, it can lead to fines and enforced payments that can make or break your company’s success. 

Therefore, be sure that you know what taxes a business of your size is eligible to pay, in the parts of the world you are operating. For instance, many SMEs in Australia need to make sure they register for GST or goods and services tax. While those in the UK would need to sign up for VAT instead, and not doing so would put them in significant jeopardy.  

Pay your employees

Next, remember that not getting properly organized about paying your employees is always the fastest route to disaster! In fact, it will be they who complete the most crucial tasks that allow your business to run. Therefore delays in payment can easily cause things to grind to a halt very fast indeed. 

That is why it’s crucial to have a clear payment policy and always do your best as a business to get paycheues out on time. In fact, even if you do encounter a problem with cash flow, redirecting it from wages to other areas of need is a bad idea. Something you most definitely do at your peril!

Insure your business

Lastly, when it comes to tasks that you must remember to do, insuring your business correctly is one that should be at the top of your list. This is because, as business owners, we rarely wish to consider everything that could go wrong. In fact, if we gave it too much thought, we may not even get started. 

However, having something in place for if this does occur is not only smart financially, but can really help to promote the peace of mind for those in positions of responsibility as well. Rather than having to cope with the feeling that their precious company is always in constant peril! 

 

About the author /


Simon is a creative and passionate business leader dedicated to having fun in the pursuit of high performance and personal development. He is co-founder of Applied Change, a Business Change consultancy based in the UK. Simon is also an Ambassador for Gloucestershire business. Simon is an Associate Member of the Chartered Institute of Professional Development.

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