Blogging, Money Management

Running a Successful Small Business with Block Advisors

Thank you  Block Advisors for sponsoring this post


“Hip hip hooray, it’s tax season!” said no small business owner ever. 

Except for maybe me. 

No. For real!

I truly look forward to tax time. And every time I say, “I am a small business owner” it still feels miraculous even after fifteen years in business. 

So for those of you starting out, I want to help you get here. I want you to have confidence about your small business that only comes from having true success. No imposters here. I want to ensure your confidence is built on quantifiable success so that you can boldly say, “I am a small business owner” and not feel like a sham.

So let’s dive into the top things that have led me to this level of success.

Running a Successful Small Business with Block Advisors

Hire a Professional

I wish I’d done more of this sooner, but the one thing I did get right was hiring Block Advisors by H&R Block. I don’t think they were called that back in the day, but the one I was blessed to work with for over a decade was definitely an advisor on my road to success.

At the time I was managing my husband’s business and while I kept great records, I was super scared of the IRS casting a watchful eye on us.

We’ve had a legit business from day one, but within our small business circle, there were so many myths surrounding what to claim and what not to claim to keep the IRS’ eyes off of your return.

Running a Successful Small Business with Block Advisors

Having a sense of fear about tax deductions is not how I wanted to build my business. So I enlisted the help of a professional who could help me navigate what was best for our small business and Block Advisors by H&R Block was a Godsend.

Block Advisors by H&R Block is a helpful resource for your small business needs. They can help you with your small business taxes, bookkeeping and even payroll. Our advisor was super knowledgeable about tax deductions, and she shared a wealth of information to help us reduce our tax liability year over year. She ultimately gave us the confidence we needed to build our businesses long-term on a firm foundation.

Running a Successful Small Business with Block Advisors

2 – Set and Keep Office Hours

This is one of those tips I continuously drive home to small business owners. If you have office hours, make sure you’re keeping your office hours. There’s nothing that will turn me off from a small business faster than when their business is not open during office hours.

I work from home, therefore, I do not entertain clients in person. However, I still have set office hours. Each day, I get up and go to my office to work. Then on days when I have virtual meetings, I show up on time.

This business practice has been part of what has led to repeat business year after year and consistent work for my company. By valuing people’s time I value my own as well.

Running a Successful Small Business with Block Advisors

3 –  Embrace Goals and Strategy

I love setting goals. Let me say that one more time.
 
I love setting goals!
 
Here’s why.
 
Goals are my opportunity to dream about the possibility. It allows me to see the end result I hope to accomplish, but without a strategy, goals are just dreams.
 
And without a strategy, setting goals can lead to frustration.
 
So goals are good.
 
Love them.
 
Embrace them.

However, you need a strategy if you intend on making your goals a reality especially if you’re creative.

According to the dictionary, a strategy is, “A plan of action or policy designed to achieve a major or overall aim“.

To be successful I recommend setting three types of goals. Ones that are audacious, ones that are possible, ones that are probable.

 Then based on those goals, you must create a strategy that has measurable and quantifiable results.

Running a Successful Small Business with Block Advisors

Takeaways

Running a Successful Small Business with Block AdvisorsGoing into the tax season I’m challenging you to keep more of your business revenue in your pocket by talking to Block Advisors by H&R Block. That way someone can assist you in getting every credit and deduction you deserve, look at your business entity tax structure, and more! 

Next, get serious about your small business by creating some structure. Maybe it’s office hours you need. Maybe it’s setting up an office space.  

Whatever it is, I’m challenging you to start treating your small business like a business.

Lastly, take time to dream of what your business could be, then formulate a strategy to get there. If you struggle in this area, consider getting a mentor or business coach.

There’s no reason why a small business owner would have to build their business on their own with so many resources available today.

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