Starting a business
Register your business with your state
It is important to understand business structure. The goal is to ensure you are protected legally, financially & mentally. Audits are very real and can happen at any time. Angry and jealous people can turn you in to authorities at any time. Insurance discrepancies can occur randomly.
Click here to schedule a consultation. (The fee includes numerous features to assist you in starting your business. Click here to review the features). I also have a paid couse as a lower cost option to get you started.
Registering your business with proper agencies is essential. A great example of this is the pandemic. There were so many people with small businesses who applied for assistance from the government. You very well may have a mobile salon business, but one question matters to government agencies before declaring your business fraudulent. “IS YOUR BUSINESS REGISTERED?”
Other questions may include
●If your staff is on payroll, are you making payroll contributions to the state?
●Do you have federal and state tax returns?
●Where do most of your operations take place?
Consult with a licensed accountant
A licensed accountant can assist you with understanding the necessary legalities you may otherwise miss. Tax law can change from year to year. It is a requirement for them to be up to date regarding those issues. My recommendations?
●Make sure they're licensed
●Read their reviews (starlight from the lowest up)
●Locate a licensed financial expert to guide you on fraud.(Ex. Pocket watching with JT)
Always remember that in America, IGNORANCE of the law does not exempt you from prosecution.
Keep impeccable records
This is important for client retention and protection from the legal system. Your entire business should have an extensive paper trail. Important conversations should be in email format. If you have an important phone conversation, write YOURSELF the details of that conversation in an email. It serves as a time and date stamp.
More examples of records include:
●Booking apps for appointments (Calendly,Setmore, etc)
●Accounting software for your books (Quicken, Quickbooks, Wave etc.)
●VOIP for your Google listing contact number (Text free, PAID Google voice, MagicJack etc)
Pick an industry
It is not easy to pick an industry to be self employed. Many that are highly publicized are also heavily saturated. Some examples are
●Instacart
●Doordash
●Spark
The grocery delivery industry is saturated but that does not mean you can't make a living as an independent contractor.
My advice is to
●find an industry that provides little competition.
●Provide services for a popular industry that makes you stand out more than your competitors .(Cosmetology, consulting, social media influencing, cooking, retail, etc)
●Be open to networking. Your circle should contain entrepreneurs (who do it FULL time). It's a different hustle when your livelihood solely depends on independent income.
●Listen to people who you KNOW are actually in the position you want to be in. Social media is misleading.
Don't forget, my podcast is dedicated to assisting people with their businesses.
Comments