It can be a fairly scary adventure, especially if you go into it without a plan. In this week's podcast, my guest contributor Alexandra Davis, a fellow CPA, CFP® and I discuss our experiences as business owners; and the challenges we see other business owners face; and steps you can take to avoid common mistakes.
Whether you work for yourself or for somebody else, there are a lot of things you need to consider before taking the step. Many people think starting a company sounds exciting: you are the boss, making your own hours, more freedom to do what you want.
Here are some tips we suggest as you pursue a business owners' journey:
Step 1: Develop The Right Mindset - Read self-development books, spend time with like-minded people and stay true to your why.
Step 2: Create A Plan - Remain nimble and be prepared to pivot. A plan is a helpful start, but it will change, stay open to possibilities.
Step 3: Build A Great Team - A good accountant and attorney are the key to mitigating mishaps. But building a network of other professionals will take you far.
Step 4: Develop systems - Treat your business as a legit company from day 1. Develop sound accounting systems and procedures.
Step 5: Stay The Course - No-one said it would easy, but everything you need to succeed is within you.
Resources Mentioned In the Podcast:
Alexandra Davis, CPA, CFP® - Founder, AGA Tax & Consulting Services, LLC
The Big Leap By Gay Hendricks
Master The Money Game By Tony Robbins
Get Rich, Lucky Bitch By Denise Duffield-Thomas
Think and Grow Rich By Napoleon Hill
Success Through A Positive Mental Attitude By Napoleon Hill & W Stone