Running Your LNC Business: Part 1

Running your LNC business smoothly and effectively does not always come as naturally as we would like. The key is to find the best tools for you and your business. While there is no one-size-fits-all approach to taking control of your LNC business, there are a few tried and true tools that will certainly help you do it.

Here is a list of 21 tips to help you remain on the road to success. These tips will be divided into a 3-part series, so be sure you check back to get the full list!

1. Create a Company Manual

Think about it, every time you buy something new – from a vacuum cleaner to an appliance – what does it come with? A manual. That is because a manual holds all the information one needs to manage and use an item properly.

Running your LNC business is no different. Include an overview of everything in your company, including URLs, crisis management plans, important contacts, and any other integral business documents.

2. Get a Business Credit Card

Depending on what type of company you are running, a business bank account might be a non-negotiable as it is required for most corporations and LLC companies. However, having a business credit card is a great way to keep your finances in order if you’re a sole proprietor.

By having a card dedicated only to your business, you have a much easier time tracking expenses, managing subscriptions, paying for company supplies, etc.

3. Manage your Taxes — in Advance

Based on previous taxes, you can predict how much you might have to pay this year by comparing your current income vs. previous. If you see that you’re on track to make more than in the past, go ahead and start setting aside a greater portion of your monthly income.

You can do this into your business savings account or set up an actual tax payment plan with online banking. This will help prevent being blindsided by paying more at tax time, and if you didn’t estimate correctly, it would be less of a shock.

4. Use a Password Manager for Running Your LNC Business

A low cost service like LastPass.com keeps track of your passwords. Never keep them stored in a notebook or on your hard drive – both can get stolen. LastPass makes my life so much easier.

 

5. Maintain your Office.

Are you the kind of person who lets their office space gather cluttered messes until you have to clean it? If you are, consider creating a daily routine of keeping it tidy once you have gotten it organized.

Begin with an overhaul of everything. Implement daily clean-up to keep you from the headache of digging through piles of papers and being in a stressful environment.

Additionally, try to find the source of things becoming cluttered. Is it because you have more things to file than you have space for? Do you need to have a dedicated area for mail instead of the top of your desk? Examine your day-to-day business activities, find the bottleneck for the mess, and create a solution.

Create a decluttered environment and hold yourself accountable to making it a daily task.

6. Get Household Help

Outsourcing might be a no-brainer for you in your business, but have you ever considered using it at home or with your office space to alleviate stress?

Use your kids as your helper to do tasks you don’t need to do directly, i.e., walk the dog, do dishes or laundry, etc. Also consider a cleaning service, for home and/or office. Enlist help from your spouse or other family members for cooking or childcare. You don’t and can’t be the one to do it all for everyone.

7. Use Online Services for Offline Problem-solving

Sometimes outsourcing to your family isn’t enough, and other tasks like grocery shopping can be hard to fit in. Fortunately, there are many grocery shopping and delivery and pick-up options either through third-party companies or the store itself. You can use these services at other local stores to get your pet items and sometimes household essentials.

Today I touched on the first of many tips to help you begin organizing your workspace, online office, and tasks at home in running your LNC business. The aim of sharing these tips is not for you to throw everything you have been doing out the window but to be conscious about how you are currently performing versus how you would like to do tasks.

See if any of this information might help in achieving what you desire. Be sure to tune back in next week as I continue to share further ideas.

Pat Iyer is president of The Pat Iyer Group, which develops resources to assist LNCs to obtain more clients, make more money, and achieve their business goals and dreams.

Pat’s related websites include the continuing education provided on LNCEU.com, the podcasts broadcast at podcast.legalnursebusiness.com, and writing tips supplied at patiyer.com.