1. Keep Your Personal and Business Finances Separate
By far, the most important thing you should do as a business owner is ensure all of your personal and business finances are completely separate. If your business is a sole proprietorship, it can be particularly easy to co-mingle your personal and business finances, but don’t do it! That means you need separate bank accounts and credit cards. If you purchase something for the business with your personal credit card or cash, document it with an expense report, and pay yourself back using money from the business account.