What comes to mind when you hear the term financial management? Maybe it makes you feel anxious or confused. If so, please don’t! Like any other business activity, managing your company’s finances can be broken down into smaller, repeatable, and actionable steps. Taking these steps will erase worries and help ensure that this part of your business runs smoothly.

There are lots of ways to describe small business owners. From smart and ambitious to creative, decisive, and resilient, there are many notable qualities that help those of us in this position succeed. But what about organized? While maybe it doesn’t sound quite as exciting as the rest, being organized is incredibly important when you’re running a business. After all, there’s surely a lot on your plate and all those details matter!

In case you haven’t noticed, many so-called business “experts” and other entrepreneurs like to use the terms LLC and company interchangeably. This might not sound like a big deal, but it can be if you personally heeded their advice to “start an LLC” when perhaps they should have advised you to “start a company.” In reality, an LLC is just one type of business structure but not necessarily the right formation for everyone depending on their goals.