Tips to Help Grow Your LLC

May 18, 2023 5 Min Read
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"Making a successful LLC isn't a one-and-done process..."

Limited liability companies, or LLCs for short, make up most of the business world. They're easy to set up and come with amazing benefits. Despite the simplicity of LLCs, however, the challenge of growing them into a successful business remains. New business owners often have a hard time figuring out strategies and ventures that'll help give them the jumpstart they need. If you find yourself reaching a roadblock, then you've come to the right place. In this post, we'll be covering five tips to help you grow your LLC.

This may interest you: 6 Steps To Form A Limited Liability Company (LLC)

Start Engaging on Social Media

Social media isn't only for pictures and sharing your favourite moments anymore. It's now become the central hub for companies to better connect with their target audience. If you have any unique ideas in mind, you'll obviously want your audience to anticipate what's coming. Granted, building up a presence on social media is much easier said than done. You'll need to post routinely as well as engage with others to be noticed. 

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Doing this can help you with your chosen platform's algorithm and make your account known. Today, the most used social media platforms are Instagram and TikTok. These two platforms are where most people hang out online, so you'll have a better chance of gaining followers. If there are no more followers on your Tiktok videos then you can Buy Tiktok followers with in cheap prices. If you agree with this need but don’t have the time or ability to do it yourself, you can always use nano influencers to help target the right consumers and increase brand awareness. 

Get Your Website Up and Running

As an established company, one of the most important tools a business owner needs is their own website. This website will be where your audience goes from one of your social media accounts. It's what will house your products, services, and your goals. Your "about" page should be as transparent as possible; make sure it covers the gist of your business goals and core values. Be sure that you create a user-friendly website, too, so that people don’t leave your page simply because they cannot navigate it. 

Supplementary reading: 8 Effective Ways to Boost Business Website Conversions

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Effectively Manage Your Taxes

As an LLC, you can get a break in your taxes. But that doesn't exactly mean you're exempt from them; you're obligated to pay taxes just like every other business. However, managing taxes can be very difficult for new business owners. Fortunately, there are plenty of ways you can reduce how much you must pay in taxes. 

You can pay for your employee's retirement, fund health insurance, claim qualified business income and even use your vehicle for business purposes. One thing we should mention is that your personal taxes do play a role in how much you must pay the IRS each year as a business. Newer owners aren't aware of this, but in the US, most companies are known as pass-through businesses. This means that any income the business makes goes right to the owner, who is then taxed through their individual tax returns. 

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One of the best ways to keep yourself from paying too much in personal taxes is to invest in real estate. Real estate is considered the safest form of investing you can participate in. It's relatively simple to get into, and the risk is incredibly low. You can own an apartment complex, flip houses, or purchase individual shares of an already established building. Regardless of how you go about it, real estate investing provides amazing benefits. Did you know that it can lower the rates on your capital gains? You can also deduct expenses such as property tax, mortgage rates and even property insurance.

Take It Slow at First

One of the most common yet detrimental mistakes any LLC owner can make is charging full steam ahead. Making a successful LLC isn't a one-and-done process; it can take a long time before you see any kind of traction. Rushing things will only end up hurting your business in the long run. 

Read more: Maximising Your Business Potential: How an LLC Can Help You Grow

It can lead to you making rash decisions and contribute to failed business ventures. You must take your time with the whole process. Research everything thoroughly, see what people are talking about on social media and formulate strategies that'll put you above your competition. Patience is a virtue that can significantly increase your chances of getting off the ground.

Build Up Your Network

A network is an interconnected list of contacts who can help make your business better. Running a business isn't easy, so getting advice from established professionals can help you see things in a new light. Participate in local or online events or even connect with other establishments via social media.

Explore: How to Get the Most Out of a Networking Event

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Jenna is a corporate relations specialist with over ten years of experience in employee relations and brand development roles. She is a dedicated volunteer within the disability advocacy space and loves to bake and run marathons.

 

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