How’s Business? What not to do

By Joe Palumbo III

This week, I'll talk about some don't's. Love what you do, but be professional while doing it. Have a thought-out business model and create a separate business account – never co-mingle monies. Also, invoice your services. If you forget to, you'll never get paid.Don't be a one-man band. Work with a qualified attorney and CPA. Create a relationship with the banker who'll handle your business account. A good supporting cast will make the business end of your life bearable and less overwhelming.Don't be afraid to bill out for your time. If you don't charge for your time, it'll be taken advantage of. Charge too little and you'll never raise prices to the level you'll need as your business grows. Don't promise too much and never promise what you can't deliver.We sometimes go into a business venture with the best intentions and wind up promising more than we can deliver. Don't do it no matter how confident you may be. It can lead to disappointment, which will lead to failure in renewing deals or future relationships.So How's Business regarding to the don't's of running your own business? Don't sell technology. Obtain customers based on old-fashioned results. Identify what's good and bad, your client's pain points, and review and offer solutions. Luxury isn't always a tool to create more business. You can't replace genuine sincerity for your customer's needs. Protect your integrity. It really does cost to be a boss.Reach Joe Palumbo at 516-248-0256 or info@camelotlimo.com.

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