Becoming an entrepreneur can be thrilling. The ability to be self-reliant, the excitement of bringing your idea to the world and the possibility of success are all intriguing parts of the dream. At the same time, entrepreneurship involves a lot of not-so-glamorous details: taxes, paperwork, contacting a register agent service and working on incorporating your business. It can be easy to let the mundane responsibilities slide, but that could get you into big trouble later. Keep your company running smoothly this New Year by following these tips:
Write down resolutions: It might seem cliché but there is no better way to keep good momentum going in 2015 than by re-visiting your business plan — or starting it, if you haven't hit that stage yet. Fresh eyes on document that is essential to your company can make all the difference. If you need help putting the finishing touches (or revising) your plan, don't be afraid to reach out to professionals.
Meet with a CPA: Tax season is here and that means a slew of confusing paperwork. Connect with a certified public account to make the job easier on yourself. If you don't already have an expert in place, now is the time to start searching. The closer the deadline, the more packed a CPA's schedule will be.
Incorporate: Incorporation can be extremely beneficial for any business — many investors, for example, won't bite until you're incorporated — but the filing required can be daunting. Make sure you do all your research before deciding which state you will incorporate in, and understand the rules (and fees!) involved.
Solve last year's problems: There's nothing like dragging last year's baggage with you into 2015 to get a team down. While not everything can be solved with the snap of a finger, it is important to make sure you are constantly working to resolve outstanding issues.