Even though she made sure she was targeting ladies she really did hit it on the neal. There are so many things you have to do in business. What's something you are lacking in your business?
What'S up beautiful people today we are talking about owning our business, and by that I mean the administrative tasks that need to be in place before you even launch. Now I know girl. We can get really excited before we launch the business about our idea and how we're gonna present it and all of these things. But really the longevity of a business is really in the systems that you have in place and a lot of the foundational work that you do before you even launch. So, let's get into it. If you are interested in the admin side of business kind of more of the operational things that need to be in place to keep the bones of your business standing then stay tuned, you might even want to grab a pen and some paper or get the notes Out on your phone, because I'm gonna pack this one with some good information here we go once you've got your business all flushed out.s standing then stay tuned, you might even want to grab a pen and some paper or get the notes Out on your phone, because I'm gonna pack this one with some good information here we go once you've got your business all flushed out. You know what type of business you're creating you want to go ahead and register your business name. Now, whether you do that as an LLC or corporation, however, you want to register your business. You need to do that.
That is very important. An LLC is generally the easiest most cost-effective and just the most common way that a lot of small businesses registered their business and you do it through your state. So it would be registered through your state and every state. Llc rules and pricing and all that stuff is slightly different, so you do want to do a little bit of research on that, but it takes all of like 10 to 15 minutes to fill out the form, so that is step 1 register. Your business don't just be out here, you know, saying: you've got a business on your Instagram and you change your Instagram name when you think that should be the name that ain't your business name but we'll second thing you need to do once you have your LLC Or your corporation or whatever, you need to then register that with the IRS okay, honey, because they're going to take your taxes and you need to register your business for your tax for tax purposes and that will also generate your EIN number or your federal tax. Id number what everyone call. It is basically like your social security num
ber for your business. So whenever you fill out a w9r, you do your taxes. They will require your EIN number. The third thing to do you want to get your points. Okay, now you don't want your coins just going to your personal savings or personal checking account, so you need to create a business bank accounts. Now you can only do this once you have your business registered as an LLC as a corporation whatever, and you have that E is number, so you got to do - got to go on a steps. Honey, okay, so go get your bank account. Now, what I do recommend is go into a credit union because credit unions, they love us small businesses. Okay, they don't require you to have large minimum balances in your account. A lot of larger banks do require larger minimum balances, and so I personally have my business account with a credit union here in Michigan called Michigan first credit union
They have an amazing business account. So I get all of my checks and all of like any money I make from errand on demand whether it's YouTube, whether it's a client, whether it's you know, consult a consultations. I get everything sent to my business account and I track it, which we don't get to so forth. Things stand on the finance track, tracking, your expenses, tracking, your income tracking, what you're spending everything needs to be tracked mileage if you go on a lunch meeting, if you go on a coffee meeting, if you go out of town for a meeting on all of those Things need to be tracked because they are very important for your taxes. Come tech season which you don't want to slip up on tracking things, because you will lose money during tax season when it's time to write up all that good st
uff, okay, um! So what I use to track is QuickBooks. Now my mom does all of my bookkeeping. My mother is a bookkeeper and she's actually about to launch a business where she helps small businesses, keep their books really tight because a lot of small business
es I mean we ain't got time to be. You know keeping track of our books and doing YouTube videos in and doing client work and doing whatever else our business requires. So one big thing that will be helpful once your business does start to get a little bit of momentum is to have somebody in place to make sure your finances are at one point, because the last thing you want is the IRS coming for you, honey and So my mom makes sure that everything is sealed tight from my mileage from my mileage, the food I buy when I'm out clothes that I wear for YouTube videos or for speaking engagements like all of those incomes and out-out, not outcomes all of that income and all Of those expenses must be tracked in QuickBooks is an amazing tool to use to track that. I also send all of my invoices through QuickBooks and a good thing about that, is it it keeps your books pretty much for you. So
it's a great resource. This is not sponsored by QuickBooks, it's just. You know what I use so once my mom launches her business, I will link all of her information in the description, so you guys can contact her. If you do need help bookkeeping, you do not have to be in the Metro. Detroit area is something that can be done from anywhere. The fifth thing you want to do is pretty simple: set up a business email, but this is something that is really important, because you want to make sure that all of your business stuff is just completely separate from anything personal. I don't care how professional your personal email is. It needs to all be separated, so just popcorn create your business email. You don't have to have the domain of you know info at Aaron, Linda mancom. I mean if you do want to pay extra for that, then that is totally fine, but for the first year I've been using Gmail and I just up
grade it to a you know personalized domain, but you really don't have to do that immediately, just to make sure It is professional and you have all of your business stuff going into one place. I can't remember what number I'm on the sixth thing did I say that was five. Yes, the sixth thing is your content. / marketing plan? Okay. So this is very important because you do want to have an idea of how you about the market and sell your business to people whether it's you know it's a t-shirt company or a coaching company, or you know Facebook Ads company like whatever it is. You do need to have some kind of content strategy in place so that you know how you're going to sell this to people, so I do have a video on whether or not you should start a blog or vlog for your business
. I did that with my sister. I will link it in the cards and in the description, but it is a very helpful video if you're trying to kind of decide what type of content to create for your business or if you want to do a sales funnel or traditional marketing. Are you gon na have YouTube ads or Facebook ads like kind of map out up just briefly what you envision for how you want to pitch out your business and the type of ongoing content you want to have to keep those people funneling into your business and Hopefully your sales, the seventh thing, is a website now come here. Let me say something: social media does not count as your website. Okay, so now that we got that together, you need a website. You need somewhere to house your content in its entirety. Okay, it's fine to have social media. Even if it's just a landing page. You have that first, when you first launching you don't, you kno
w, have time to build out a whole website or if you get on Wix or Weebly or Squarespace like there are a thousand super easy and intuitive website builders that you can pretty much just plug and Chug pictures and type in what you need to type in until you are able to hire an actual web designer. I recently, like I literally just hired a web designer to revamp my entire web site. His name is Justin done fantastic web designer like seriously amazing. It is an investment that is well worth the cost, so if you guys are interested in that, I will leave his information in the description as well, but yeah having a website is just so important for search engine optimization purposes. That'S just enough of a reason to have a website, but for so many reasons just to have your stuff in one space and then the a thing is to have your business's name trademarked, especially if it's something that is relatively unique or you think it's gon na Blow up or you don't want anybody to steal it, I would recommend getting it trademarked. We got black and gold gol D, which is my other business. We got that trademarks because we ain't want nobody taking that, and so that is just that's also a very important step that you don't necessarily have to
do before you launch, which is why I made it the last tip. You know that is something that is costly. So when you start getting legal services involved, it can be hundreds and thousands little hundreds or thousands of dollars, but it is a cost upfront that will pay off. It will pay off so much in the future, like you rather pay it now than someone to steal your brand and make millions of dollars off of it. So I would say that that's definitely something to do in the early stages, although you don't need to do that before launching those are like the eight things that I would say will help you really really get started in the backend of your business. It'S so important to have all of that stuff really tightly done, and I just don't think a lot of people talked about some of those really practical things that you need to do to just get your business rolling and they don't have to take a long time. You guys like this is stuff that filing your LLC that can take 10 to 15 minutes, setting up your email that takes 5 minutes going to get the bank account that takes 3
0 minutes, maybe an hour. These are things that don't really take long. So you guys just make sure that you're not wasting time. Even if you are in school and you have a busy schedule - and you know you have a lot going on - just make sure that you understand that you don't get this time back and just do it. Okay, just do it, so that is all for this video, if you gu
ys have any other tips, if you guys are further along in business or if you encountered some hiccup saying you want to share them in the comments. Please do so y'all. This is a community. We are all sharing the wealth I am here to share and receive just as much as I'm sharing so, but that notes I am going to see you guys in the next video make sure you like comment, share and subscribe. Y'All all like this stuff and I'll see you all on the next one: peace