Ok, so you have your business plan, your LLC registered with your state, and your federal Tax ID…. now what?!
As a result of your business foundation being strong, your business can now become strong. Besides your passion and grit, I’d recommend these 5 things to establish right off the bat…
1. Liability Insurance– protect yourself from all angles. It’s more affordable than you think AND you’ll sleep better at night.
2. A Banking Relationship– pick your bank based on the business products and features it offers. Make nice with the business banker at your local branch. Be sure to open a free checking account AND establish a business line of credit (this is your “just in case $” and you only pay interest if you use it).
3. An Accounting Relationship– shop around for your favorite, easiest to talk to, Certified Public Accountant or CPA. Have them help you establish an online accounting system/ software. Trust me, you want to be prepared if things take off, and truly it makes things easy to see where you are, compare quarters… and you guessed it, seamlessly file your taxes at the end of the year.
4. An Attorney Relationship– This doesn’t cost you a thing until you use it. And, truly, you want to have carefully picked “your person” in advance should you ever need it. Do you have or need contracts? Make sure an attorney looks it over and approves… or even personalizes for you.
5. A Way to Find You Online– master a social media platform, put yourself on Google Maps, hire or create your own website- and start to optimize it to rank on Google. For this you may need a graphic designer, or heck, if you have an eye- a free Canva account for your logos and graphics and marketing and branding materials.
If you want to grow, be prepared to grow. These 5 things will set you up well. The last thing you want to start your new venture on is a rocky foundation.
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You don’t have to be alone in business… just sayin’!
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