Investing in yourself

St-Thomas-Legal-Starting-Small-Business

Investing in Yourself

5 Tips from us on starting your own business

From personal experience, our office knows how stressful it can be to start your own business. Venturing out, taking the leap of faith in yourself, your product/business, and investing in your future can bring anxiety, frustration and confusion. However, if you start with the right team, you will easily find great joy, peace, excitement and passion that will keep your business focused in the right direction.

In full transparency, many people start their dream business out of necessity and desperation. More often than not that desperate desire does not allow for build up finances, time to focus and create a business plan, etc.  A family can be left with financial hardships and feel like there are limited resources or options for them.  Here are a few tips that might seem obvious but maybe they can help you. Here are our 5 tips to help you start your own business:

 

1. Take advantage of free training or consultations

Maybe you will hear a sales pitch or two; however, you are likely to come in contact with someone or a profession that you will need.

Shameless Plug: Our firm offers free 30 min consultations for all clients and with each new type of case.

 

2. Remember your own network

Keep your head focused when your community around you is speaking and see how maybe their work or businesses can help you and in return your business will start to earn or gain business too.

 

3. Budgets are your friend

            Client of our started his business and there were some questions.

            Q1: What do I pay myself?

A1: Establish what you need versus what you want to bring home each week. 7 Days is not long but the income that is brought in during that time will dictate what the business can afford to pay the owner.

            Q2: What if I cannot pay myself?

A2: Take a smaller pay out/ draw from the company and then try to make it up in the next week. But too many weeks of short funds does not make successful business.

 

4. Protect your family and home

Meet with people to help you devise a plan to make sure what you currently have is not affected by the outcome of the business

Shameless Plug: Our firm helps clients with estate planning and how to set yourself up for success.

 

5. Protect the investment of your business

Insurance may be an afterthought but work to make it a reality. Too much can go wrong and too many people these days are looking and dreaming of a pay-out. So protect your investment by personally knowing your insurance agent.

 


You’ve found a trusted advisor: us.

Where is the team that will work for you? Find them and we can help!

Our firm has a wealth of connections within the community that can assist in all types of individual needs. Get to know us and we work to make our entire network available to our clients.Contact us today to see how we can help you.

 

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