When starting a business, there is a lot to think about, almost too much in fact. While movie montages make the process seem easy, reality is often much more difficult.

If you’ve looked at opening and running your own business, you have probably done your homework aplenty. You have tons of websites saved, books highlighted and earmarked, and maybe even a few entrepreneurship conferences on the calendar.

Many of these places will focus on how to start a business and what it takes. They’ll talk about everything from marketing techniques to the personal side of business and how you can keep yourself motivated.

Today, we’re going to look at a few things that can sometimes slip under the radar or through your mind and be costly for your business.

Forgetting to Register Your Local Business Online

Thanks to the folks over at Live Internet Statistics, you can see just how many Google searches are being carried out every day. Estimates say there are anywhere in between 40-60,000 searches per second.

Everyone is looking online for everything they need, from movie times to restaurant locations. If your business is looking to expand your local footprint, it’s imperative that you need to register for a Google My Business account.

Having such an account will help locals find your business, contact information, opening times, and much more. Plus, since Google often groups together similar businesses, then you’ll be able to appear in that grouping.

It is easily forgettable because it takes minutes to do, but it is necessary to get your business on the map.

Not Researching Local Laws

Bureaucracy isn’t exactly what most people would call “fun”. Fans of the NBC sitcom Parks & Rec may remember Jerry Gergich being overly excited to serve as a notary, but he’s definitely one in a billion.

Laws for businesses can vary greatly from province to province. For example, you might have heard of many US businesses opening up as LLCs. After reading over the structure, it might sound like a good idea until you find out that LLCs are not an option in Canada.

Local laws may put various restrictions or require more documents as compared to other parts of Canada. Ignoring or forgetting to check out those laws could result in more work for you or worse, a fine or penalties.

Trying to be a One-Man Show

You often hear about people starting a business from the ground up with nothing but their own two hands and the clothes on their back. What’s often left out of those stories are all the other people who helped form the business or offer guidance.

For example, you might be a marketing guru but not have the slightest idea about accounting. Instead of doing it yourself and making mistakes, it would be best if you hired an accountant to walk you through everything you need to do and make sure you’re not missing anything important.

Remember, it’s OK to ask for help even if you want to feel like Superman.

Ignoring Insurance

There is insurance for everything these days, including businesses. There are a few types of business insurance: general liability, professional liability, and worker’s compensation.

Which route you go largely depends on which business you have. General liability is the most basic and protects you from losses or personal damages. Professional liability protects you from customers who may sue for negligence. Worker’s compensation helps protect your business in case of a worker’s injury while on the job, covering medical bills and any rehab expenses.

Not only is investing in insurance the smart and responsible move, but it also makes your business more trustworthy and shows people you are serious about your business as a whole.

Being Too Stingy

Every business owner wants to save money and grow their business, but oftentimes that mindset gets twisted up in “just spend less money”.

Naturally, you want to stick to your budget but underspending can be just as dangerous as overspending. The old adage says “you have to spend money to make money” and it’s incredibly true. Not investing enough money into your business may not give it the energy it needs to propel off the ground while purchasing cheap machinery or products means you’re going to be spending more money on repairs or replacements.

It’s always good to look for money-saving tactics, but be sure not to go so far under your budget it hurts your business.