9 Business Tips Every New Entrepreneur Needs To Know



Jun. 9 2017, Published 3:00 a.m. ET

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Your goal should be to make your day easier, not more stressful. That’s why we asked nine entrepreneurs the following question:

Q: What one business item should most entrepreneurs be systemizing but currently are not?

Internal Product Feedback

One of our favorite systems that we built was an internal site that lets teammates add and vote on each others’ new product feature ideas. It encourages everyone outside of the development team to actively use our own product and share their feedback. We found it very powerful to give all teammates an invitation to influence our software.

— Nanxi LiuEnplug

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Their Health

It has never been easier for entrepreneurs to take care of their health. At the beginning of the year, pre-plan your doctor’s appointments (dentist, allergist, dermatologist, etc.) so the time is blocked off and booked on your calendar. The same can be done with standing gym classes, such as Flywheel every Friday at 6 p.m. at a location near your home or office. — Kim KaupeZinePak

Tax Information

I am guilty of letting all of my deductions, payments and deposits pile up and then spending the pre-tax season frantically trying to organize everything for my accountant. The whole process would be so much easier if I spent a chunk of time organizing tax materials each quarter when I do my payroll. Despite the fact that there are tools out there, many entrepreneurs are in the same boat.

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Everyone knows that talent is the №1 driver of success for companies and yet so many entrepreneurs struggle to hire great people. We’re long past the days when you could just post a job ad and wait passively for qualified candidates to apply. To get ahead, you need to be setting weekly targets for sending outreach emails, asking for referrals and conducting initial phone screens.

Business Metrics

The answer to, “How’s the business going?” shouldn’t be subjective remarks. Keen entrepreneurs have a system that consistently tracks the metrics of the business (sales, leads, retention, budgets, profits, employee feedback and so forth) so that you can give a definitive answer on the health of the business.

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Diversity Initiatives and Reporting

Most seed and early stage startups, as well as small businesses (and sometimes large enterprise corporations for that matter), forgo quantifying and systemizing their diversity reporting. Companies promote being diverse. Once self-reporting is systematized, however, the data often shows that that is not the case. Instituting a yearly self-disclosing diversity report is critical.

Their Sales Funnel

It’s never been easier to close business with technology. Companies like MailChimp, SumoMe, Leadpages and HubSpot allow you to automate yourself into revenue in a way that was never before possible. For every business, I have a standardized sales funnel that categorizes my clients and directs our communication uniquely to them. It’s increased our revenue by five times since we started about 13 months ago.

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A Morning Routine

My morning routine is paramount to starting off my day right. On days that I skip it, I feel anxious and unfocused. It consists of exercises, stretches, breathing techniques, meditation and reading or listening to a podcast. It helps me feel calm, clearheaded, focused and more creative. I solve problems better, generate more interesting ideas and overall am just a better human being to be around.

Project Management and Workflow

One of our most successful company implementations in 2016 was our project management software, Trello. This allows all moving parts to work together seamlessly and ensures deadlines and details are met.

This piece originally appeared on Women 2.0.

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