What does it mean to “take care of your affairs from the inside out”? For some entrepreneurs, it may mean keeping good financial records. For others, it may mean maintaining an orderly office. Both are correct answers and represent parts of a larger picture.

Taking care of your business from the inside means running a clean and smooth operation. Being an entrepreneur may take guts, but the reality of running a business requires hard work, management skills, resources, discipline, and learning how to do it right to build a solid foundation for success.

The good news is that there are a host of free and low-cost resources available to help you. The IRS and local offices in your state, county, and city offer information on starting and running a business. Don’t be afraid to contact these offices for assistance. Many government offices offer free or low-cost business classes and workshops. Call or visit your nearest community college for a business class schedule. Visit your local chamber of commerce for local business information and resources.

The importance and benefits of running your business from the inside cannot be overstated. It enables productivity, operations and communications, for accurate financial planning, allows you to use and allocate resources appropriately, and gives you peace of mind in the event your business is audited.

Tips to take care of your business

1. Acquire the necessary business licenses.
2. Learn all about state sales tax obligations for your industry.
3. Establish and maintain a good filing system.
4. Keep accurate documentation.
5. Adopt good business practices.
6. Keep good financial records and use an accounting system that works for you.
7. Know all your tax obligations and fulfill them on time (state and federal).
8. Set up a business bank account.
9. Retain professional assistance and advice when needed.