1. Stop treating your business like a side hustle.
Register with the state
EIN
Register with D&B/Sam
Get a business account
Start building business credit
Trademark, patent & copyright
2. Put yourself on payroll. Putting yourself on payroll has tax benefits personally & business.
Don’t quit your 9-5 until you are CONSISTENTLY making at least 2-3 times your 9-5 income.
DO NOT pocket all of your business income. You need to be consistently investing back into your business.
Have a reserves account.
Stop chasing money. Your business should evolve around a passion that solves a problem. Stop doing something just because everyone else does it. SET yourself apart from everyone else.
3. Invest in marketing/ branding. Your customers should be COMING to you.
Stop in boxing people offering your services
Stop tagging everyone offering your services
Stop posting your links on random pages and in random comment sections. Actually, learn to market & brand.
4. You have to PAY to be the boss:
Vendor fees, merchant fees
Taxes(federal, state & property
Inventory/merchandise
Software fees
Payroll
Lease/mortgage
Utilities
Title
Maintenances
Contractors etc.
You will have down times. NO ONE is consistently winning.
Understand NOTHING happens overnight.
Keep an updated business plan. You should have goals of where your business is headed every 5 years.
