How to Run a Successful Small Business: 9 Helpful Tips

Share this article:
Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
Why Small Businesses Tend to Fail
Financial Problems
Ignoring Legal Requirements
Inadequate Business Planning
Poor Management
Tips for Running a Successful Small Business
1. Have a Clear Business Plan
2. Decide How to Structure Your Business
3. Keep Proper Records
4. Understand the Competition
5. Create Processes
6. Provide Exceptional Service
7. Know Your Niche
8. Employ the Right People
9. Get the Financing You Need
The Takeaway
About the Author
Susan Guillory is the president of Egg Marketing, a content marketing firm based in San Diego. She’s written several business books, and has been published on sites including Forbes, AllBusiness, and Cision. She enjoys writing about business and personal credit, financial strategies, loans, and credit cards. Follow her on Twitter @eggmarketing.
Share this article: