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MIND YOUR TINY BIZ
FIGURING IT OUT AS I GO! Menu Skip to content* Home
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MIND YOUR TINY BUSINESS > How to pay yourself>
> as a business owner. Do I add myself to payroll? Can I just > transfer money from the business account to my personal checking? > Should I have separate accounts or is it okay to keep the money from > the business in my personal account? Make sure to know the legal > issues that arise by paying yourself improperly. > How do I register a business?>
> What requirements are there? What government agencies do I have to > contact? Photo by bruce mars on> Pexels.com
>
>
> Personal Capital . Can > you qualify for a Small Business Loan? Get a clear picture of your > finances before you apply for financing. It’s FREE! Gather all > of your Assets and Liabilities in one place. The website is also > very easy to use and understand. Photo by Negative Space on Pexels.com>
> Bizbuysell lists available businesses > for purchase in your area. Photo by Brett Sayles on Pexels.com>
> the Millionaire FASTLANE> for
> anyone looking for a clear formula on cracking the code to wealth. > MJ DeMarco walks you through what he thinks it takes to explode > business earnings in a simple easy to understand way. > Square for payment processing > is an easy setup and very user-friendly. Some Features include > flat-rate pricing, no monthly fees, affordable chip readers, free > tools for selling online > Choosing between a LLC and S Corp?>
> CASHFLOW Quadrant:>
> I was lost and a bit confused as to where to start on my journey to > business ownership? Is the life of an Employee what I want? A > great book that helped with understanding the pros and cons of being > an Employee vs. Business Owner vs. Investor is CASHFLOW Quadrant by > Robert Kiyosaki. Photo by Startup Stock Photos on Pexels.com > When thinking of a business to start, be mindful of the amount of > humans needed… _The more humans the more headaches_. Also t_he > more humans, the more expenses._ Payroll is a major expense in our > operation. As you can see in July of 2018, wages paid far > outweighed all other expenses combined. Continually look for ways > to work more efficiently. > Start networking as soon as possible. It doesn’t matter if > you’ve started your business yet! Find people who are > established in the business community. Find people who are running > small businesses that you may be able to offer services to. Online > and in person. I use Linkedin> for
> connecting with professionals. Don’t be shy, connect with as > many people as you can. Let them know what you can do for them! > Never run out of Cash> –
> I recommend this book because the author Philip Campbell>
> walks the reader through the proper way of managing cash when > running a small business. One of the main takeaways in the book is > to make sure you DON’T run your business based off of what you see > for a balance in the checking account. You need to know how much > money you should have in the account not just now, but well into the > future. He provides a Cash-flow Peace of Mind Calculator > on his website > that works nicely. > A great way to meet professionals in your town and start your > networking efforts is to join a BNI Group > These groups usually meet once a week and its purpose is to bring > new business to its members. You will refer business to others in > the group and they will refer business to you. The meetings are > very structured and you will have ample opportunity to promote your > services, meet and get to know business leaders and start building > your reputation in the community. If you are able to dedicate the > time, I believe the small investment is well worth it.SHARE THIS:
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KAREN SLATER PARKER says: August 23, 2018 at 11:25 pm Good read thanks MorganLoading...
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MORGAN PARKER
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August 24, 2018 at 1:56 amThank you!
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