002: Are You Business Ready?
SelfPubEmpire Podcast
🚀💼 Ready to turn your business dreams into reality?
🌟 Learn the ropes of setting up a legit business entity like a boss!
Being business ready means being prepared to think in business terms for your online creator work. Learn about the benefits of incorporating your work as a business for online creators, marketing and self publishing!
Discussed in this episode, being business ready means being prepared to think in business terms for your online creator work. It’s important to prepare for viral success, learning about managing fees, and the benefits of incorporating. This episode summarizes Rich Dad, Poor Dad and Think and Grow Rich as valuable resources for creators to transition from posts to profit through cash flow, systems, and motivation. Remember the significance of time as a creator's greatest asset.
There are some basic steps to start a business, including choosing a unique name, structuring the business (possibly as an LLC or S corp), and obtaining licenses, permits, and sales/use tax permits. Keep in mind the importance of researching name availability and trademarks, as well as considering business structure and tax implications. Most states have resources to help navigate these processes. Ensure legal compliance and seek assistance from tax preparers or bookkeepers.
Something to consider is obtaining an Employer Identification Number. You definitely want to open a business bank account. This maintains clarity between personal and business expenses. With these steps, you can prepare yourself to become business ready and go from Posts to Profit!