If you’re thinking about starting your own business or already have one in the works, here are eight essential business rules that you should know:

1. Start with a plan

A good business plan ensures you are thinking through every aspect of your business: From your business name to your finances. A plan for a milspouse-run business is essential because of consistent transition from one duty station to another. When writing your plan, remember this unwritten motto: “Semper Gumby.” We have to be flexible with our plans, but a little bit of planning can help your business stay on track and keep you focused on your business goals—no matter your location.

2. Research the rules, regulations, and laws

Every new business owner must ensure that their business idea conforms to the laws, rules, and regulations of their state, county, city, and neighborhood. If you live on post or overseas, even more due diligence is required to ensure you’re operating above the table. Spend some time researching before you dive head-first into your business. If you intend to run your business from military housing, make sure you check with the housing office about any rules or regulations that they may have in place. If you run your business while overseas, make sure you look into the laws that govern business in that country and get home-based business approval.

3. Be smart about your business structure

Many military spouse business owners choose sole proprietorship as their business structure simply because it’s the easiest and least expensive. But, again, a little bit of investment up front is well worth the expense. In the event that you are sued, you want to be sure that you’ve taken the proper steps to protect your personal assets (not to mention that a lawsuit and severe financial distress can have an affect on your spouse’s career or security clearance). As a sole proprietor, your bank accounts, home, vehicle, personal belongings, and everything else you own, is open for the taking should you be sued. Limited liability companies (LLCs) are a great business structure option for military spouses that are relatively inexpensive to set up and will protect your personal assets in the off chance you are sued.

4. Get professional advice

Consider engaging a small business lawyer, accountant, and tax professional in your area. A good lawyer can examine the options when it comes to business structure, assist with contract review, and even help you develop the terms of use and privacy statement for your website. An accountant can explain how to set up your bookkeeping and even help you keep your books if you don’t have the time yourself. A tax professional is a must to ensure you are taking all of the business deductions you are eligible for and not violating any IRS rules and regulations. I promise you, the small cost incurred to obtain professional advice will always be a better use of your money than paying tax penalties or legal fees for violating the law.

5. Don’t abuse APO/FPO

If you own a business overseas, there are rules and regulations regarding the use of your APO/FPO to do business. Don’t make this mistake and don’t assume you won’t get caught. The rules governing use of APO/FPO are very specific. If you own a business that ships products and you move overseas, you will need to consider the cost of shipping via UPS or the local mail system when pricing your products. If it isn’t something you make yourself, consider asking a family member stateside to ship your products to your customers.

6. Set up a separate bank account for your business

Many small business owners make the mistake of using their personal bank account for business purposes. If you intend to take tax deductions for your business for advertising, office supplies, or vehicle use, it is extremely important that your bookkeeping records are well maintained. If you are audited and have paid for business expenses using your personal funds, you muddy the paper trail. If you cannot concretely prove, or if the IRS does not agree, that an expense was business related, you may find yourself paying back the deduction plus some hefty penalties.

7. Plan again for PCS

Even if you have a solid business plan in place, consider developing another one or a supplement when it comes time to PCS and move your business. A big part of this is developing a new marketing plan that describes how you will reestablish yourself in your new location. It should also include an exit plan should moving your business to the new location not be an option. As soon as you have orders, researching local rules, regulations, and laws that might pertain to your business. If you decide to move your business, try networking within your new community and potential new customers via social media long before you arrive. A little bit of planning and forethought can really ease the loss of sales while you are in transition.

8. Balance life and work

It can be easy to get lost in the daily challenges of running a business, but don’t forget to take some time for yourself and your family. As military families, we already face some unique challenges in our daily lives and running a business is guaranteed to add some additional stress. Make sure you consciously set up non-business hours when you focus on your life outside of your business. Will there be times when you have to work long, hard hours? Yes, but make sure you balance those times with a little bit of extra time focused on what is really important.