01/10/2023
***Attention Business Owners here's some great information I came across that will help your business.
1. Stop treating your business like a hustle.
- register with the state
-get a EIN
-register with D&B/Sam
-get a business account
-start building business credit
-trademark, patent & copyright
2. Put yourself on payroll. 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.
3. Invest in marketing/ branding. Your customers should be COMING to you.
-stop inboxing people offering your services
-stop tagging everyone offering your services
-stop posting your links on random pages and in random comment sections
Invest in automations: email/text marketing, CRM software and processes, automated messaging, retargeting ads.
4. 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.
5. You will have down times. NO ONE is consistently winning.
6. Understand that NOTHING happens overnight.
7. Understand 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, maintenance, contractors etc.
8. Keep a updated business plan. You should have goals of where your business is headed within the 5 years.
