Use a single credit card for business related purchases and expenses. Consider a separate business telephone line and a separate telephone calling card. Set aside a portion of each month's surplus for federal and state taxes. Obtain professional assistance to guide you in determining the appropriate amount to be saved. Expend as much effort in collecting receivables as you did in making the sale.
Uncollected revenues are the single biggest reason for business failure.
Use caution and be prudent in extending credit. Prepare and review monthly and year to date financial statements. Seek professional advice in analyzing performance and making modifications. There are a number of other compliance issues which should be addressed at the inception of the business. Various government and regulatory agencies need to be notified at the time a new business is established.