3 Quick Actions All Entrepreneurs Must Take
“Once I start making more money in my business, I’ll _________.”
During my first few years of entrepreneurship, I had that conversation many times in my head. Have you?
In reality, the message I was sending to the world (and myself) is my business was more of a side project or hobby. But that mentality can really hold you back as you are working to build business.
For others to take your business seriously, you must, too.
There are 3 steps you can take right away to stake your claim in your field with the bonus of making you look completely legit (because you are!).
1 | Get Set Up as a Legal Business Entity
I put this off for so long. Anything government related makes my eyes glaze over. Plus, I assumed it was a process that would take a lot of time and effort.
Are you putting it off, too?
The good news is – it is much easier than I had anticipated.
As a resident of Ohio, I could submit my business name and register as an LLC online.
It took about 10 minutes. To be honest, it was so easy it was almost anticlimactic. But after I had registered, I immediately started to take my business more seriously.
I had a new source for accountability – taxes. As much as a pain as they are, taxes required me to better track my income and expenses. Yes, that’s something I should have been doing all along; but now that I was responsible to the government instead of myself, I became much more diligent.
Here’s a terrific resource the SBA put together by state: Register Your Business with State Agencies
2 | Get a business bank account
Speaking of money, you’re going to want to make some, right?
You have to have a place to put it.
For many years, I was accepting payment through PayPal only. I still do, but eventually it became problematic when I had a client who refused to pay online and insisted on a check.
Opening a checking account dedicated solely to my business helped me keep my business and personal expenses separate. I received a debit card with my business name on it, plus I now had a routing number for accepting direct deposits. Paypal doesn’t provide a routing number.
In most cases, to open a business bank account, you’ll need to take your articles of corporation or other proof you are registered – so be sure you’ve done that first.
3 | Rent a Mailbox
I thought since I was an online business, there was no need to get a physical mailbox.
Once again, I was wrong.
If you will be sending emails to prospects or clients using a service such as MailChimp, you are required by law to add a physical address in the footer.
Well, I certainly didn’t want to use my home address. I opted to purchase a mailbox from my local UPS store.
As an added bonus, having a business mailbox provides you with an excuse to get out of your house at least once a week.
NOTE: Opt for a privately owned mailbox service, rather than a post office box. There are companies who will not accept a PO Box when shipping something to you.
Once you start taking your own business seriously, others will, too. Commit to taking these three actions to get your business started on the right foot.
About the Author
Megan Corwin wants to live in a world where rainy days are for naps, wheat beer is not just for summer, and her dog always wants to snuggle. Her latest project— Prepare Your Square— is currently booking clients to have their Squarespace websites created in one day. Learn how you can have a website designed for you without having to take out a loan or feeling like you want to throw your laptop.