{"id":183,"date":"2013-08-06T00:00:00","date_gmt":"2013-08-06T00:00:00","guid":{"rendered":"https:\/\/empowernetwork.com\/kevincron\/make-2013-your-most-profitable-year-ever-5-crucial-steps-for-every-entrepreneur\/"},"modified":"2026-07-31T16:40:34","modified_gmt":"2026-07-31T16:40:34","slug":"make-2013-your-most-profitable-year-ever-5-crucial-steps-for-every-entrepreneur","status":"publish","type":"post","link":"https:\/\/empowernetwork.com\/kevincron\/make-2013-your-most-profitable-year-ever-5-crucial-steps-for-every-entrepreneur\/","title":{"rendered":"Make 2013 Your Most Profitable Year Ever: 5 Crucial Steps for Every Entrepreneur"},"content":{"rendered":"

Many of us maintain the tradition of making New Year\u2019s resolutions for our personal lives. The New Year has just as special significance for our businesses too.<\/p>\n

Whether you\u2019re an experienced business owner or are just starting out (or thinking about starting a business), there are 5 crucial steps you need to take at the beginning of the year to assure the 2013 is your most prosperous year ever.<\/p>\n

\n1. If you have not done so yet, take advantage of the greatest tax shelter available today: the opportunity to start a small business and organize your business activities to generate multiple streams of income for you.<\/h3>\n

If you have been thinking about starting your own business but are still sitting on the fence, resolve to take action today! With the internet making getting into business for yourself easier and more cost-effective than ever, there\u2019s no excuse for not taking that crucial first step.<\/p>\n

\n2. If you already own your own business make sure that you\u2019re generating income from more than once source.<\/h3>\n

This way, if changing economic conditions exercise a negative effect on one stream of income, you are not left high and dry (so to speak!). If you\u2019re involved in network marketing<\/a>, you\u2019ll have to make a point of ignoring those who would have you focus exclusively on a single company (often start up) that might not be around 5 years from now). You can and should diversify (within reason, of course!).<\/p>\n

\n3. Make sure that you are using the most advantageous structure for operating your business.<\/h3>\n

This applies to you whether you have a traditional bricks-and-mortar business, operate a UPS Store franchise, or are operating an e-business doing affiliate marketing<\/a>.<\/p>\n

If you\u2019re operating your business as a sole proprietor, as most small business owners do, your business is not in the most advantageous position to reap the fruits of the generous tax deductions available to small businesses. More important, you are placing all your personal assets, including your home, your vehicle, your personal savings, and your family\u2019s future at risk.<\/p>\n

Today, it\u2019s no longer as cumbersome as it used to be to establish an alternative business structure that will protect you from such risk. And with all the resources now readily available to the average person at minimal cost, you don\u2019t have to incur massive legal fees just to get started.<\/p>\n

\n4. Resolve to learn the information you need to know to operate your business in the most profitable manner.<\/h3>\n

Continuing education about structuring and operating your business is an absolute necessity for the entrepreneur. Even if you have an accountant or attorney on your mastermind team, how do you know if she has the knowledge and sophistication to handle this for you properly? Unfortunately, too many, do not, and their lack of expertise can cost you thousands of dollars. If your accountant or attorney tells you, for example, that you \u201cdon\u2019t need\u201d an LLC or corporation to do business, you\u2019ll know to run\u2013do not walk\u2013out of their office as quickly as possible and search elsewhere for competent advice.<\/p>\n

In addition, even if you have compentent counsel, it is your responsibility as a business owner to operate your company in accordance with governent requirements governing corporations, partnerships and LLCs.<\/p>\n

\n5. Adopt a Mindset that Focuses on Tax Reduction as a Way of Life<\/h3>\n

\nThe largest single expense of most Americans is taxes. To optimize your bottom line, you must be up to date on which expenses are tax deductible for your business and keep proper records to document them. Using a credit card\u2013even a personal card dedicated to your business\u2013and an accounting program that is specifically for businesses\u2013we recommend QuickBooks by Intuit\u2013will help you immensely in keeping track of your expenses. It can be bought at a substantial discount on eBay.<\/p>\n

Implementing these 5 steps might sound complicated at first, but they are well worth the trouble. Remember that in running your business, \u201cKeep it simple\u201d can be costly advice. What simplest\u2013setting up shop as a sole proprietor, operating on a cash basis, using your personal bank account instead of a separate business account for your business, and failing to track and document expenses using appropriate business accounting software\u2013can hazardous to your financial future.<\/p>\n

Take advantage of the fresh start spirit of the New Year to implement these 5 tasks, and you\u2019ll be on your way to making this year your most profitable ever.<\/p>\n","protected":false},"excerpt":{"rendered":"

Many of us maintain the tradition of making New Year\u2019s resolutions for our personal lives. The New Year has just as special significance for our businesses too. Whether you\u2019re an experienced business owner or are just starting out (or thinking about starting a business), there are 5 crucial steps you need to take at the […]<\/p>\n","protected":false},"author":784,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23,28,15,24,25,26],"tags":[],"class_list":["post-183","post","type-post","status-publish","format-standard","hentry","category-affiliate-marketing","category-amazon-affiliates","category-blogs","category-empowernetwork","category-internet-marketing","category-money-making"],"_links":{"self":[{"href":"https:\/\/empowernetwork.com\/kevincron\/wp-json\/wp\/v2\/posts\/183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/empowernetwork.com\/kevincron\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/empowernetwork.com\/kevincron\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/empowernetwork.com\/kevincron\/wp-json\/wp\/v2\/users\/784"}],"replies":[{"embeddable":true,"href":"https:\/\/empowernetwork.com\/kevincron\/wp-json\/wp\/v2\/comments?post=183"}],"version-history":[{"count":2,"href":"https:\/\/empowernetwork.com\/kevincron\/wp-json\/wp\/v2\/posts\/183\/revisions"}],"predecessor-version":[{"id":195,"href":"https:\/\/empowernetwork.com\/kevincron\/wp-json\/wp\/v2\/posts\/183\/revisions\/195"}],"wp:attachment":[{"href":"https:\/\/empowernetwork.com\/kevincron\/wp-json\/wp\/v2\/media?parent=183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/empowernetwork.com\/kevincron\/wp-json\/wp\/v2\/categories?post=183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/empowernetwork.com\/kevincron\/wp-json\/wp\/v2\/tags?post=183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}