There are often interesting conversations when I am sitting in the sauna at the gym. The ladies and I talk about anything and everything. The other day, we discussed mortgage rates, insurance and credit scores. We were looking for options on ways to protect ourselves and our investments. This led me to, of course, think about it from a small business owner’s perspective.

I continue to learn about effectively running a business. I have discovered there are three investments you have to make to protect your newly acquired asset. First, it is important to have a lawyer on speed dial. Even if you are the only employee, get insurance. Finally, hiring a good accountant is at the top of my list.

Keeping track of mileage or knowing what’s tax deductible can be overwhelming. (Is it just me? LOL) I have so many questions for my tax guy. Here is one tip he shared: set aside about 25 percent of every check for taxes. (By the way, this is advice I will pass along to the ladies at the gym during our next session in the sauna!)