There is no one right way to get a startup business rolling. The strategies that work are as diverse as the marketplace, and for good reason: individual niches have very specific requirements in terms of the relationships they form with their customer bases, and so new strategies need to be developed as new niches are carved out. Still, while there is no one right way to set your new company up, there are a few general do’s and don’ts that can help anyone along.

Financial Management

First of all, the things you do want to do all revolve around conservation, return on investment, and long-term planning. You do want to get your business’s credit up and running. You want some loans, to help establish a positive credit history, and you also want to keep your cashflow loose and available. It might be a good idea to fundraise with investors, or to seek partners, but in both cases it is important to also ensure your financial agreements with them are detailed and that you do not give up control over your startup business’s future.

What you don’t want to do is give up controlling interest by handing out too much ownership to other people or entities. There are loan packages and other methods of raising funds that do not involve compromising your majority stake in the company. You also don’t want to spend any money you will need for payroll or other taxes. Those expenses need to be sequestered and paid on time, because the steepest interest and penalty fees you are likely to see will come from the IRS. It is in your interests to keep your cash on hand available for those kinds of necessary expenses, and to finance projects by building your interest into your overhead and adjusting your quotes to fit so that you are always operating within all of your legal obligations.

Research and Education

Make sure that you have a comprehensive employee education program. This can help to transmit the culture of your business, which is important, but its main utility is to make your initial hires versatile, so that you can count on some skill set redundancy. This allows you to count on the ability to double up your efforts when one department suddenly gets busy, a common experience for a startup business to go through in its early days. It is also important for you, as the owner, to reach out to the Small Business Administration, along with any local or regional resource centers, to better understand what programs and organizations are there to help support the growth of your company. Just don’t encourage your employees to cut any legal corners in any area, and don’t pass up any opportunities to be a visible and positive force in your community, and you should find yourself building a customer base in no time.

Following these tips can really help keep your first business startup on track, making it easier to focus on keeping your customers happy and your company growing.