Did you know that there are 9.1 million women-owned businesses nationwide? Women all over the world are taking life into their own hands and they are starting their own businesses. The misconception about a business is that it has to be a physical location/store where consumers can go to make their purchases. Small businesses are strengthening in the industry and many women are taking advantage. Women entrepreneurs are following their dreams when creating a startup:
50% of women who started their own businesses were under the age of 50 and many have begun businesses online or turned a blog into a business. Blogging is considered a business and it’s being recognized. Here are some tips to help set up your business:
Take a course
Did you know that there are courses out there for women entrepreneurs have a successful business but no idea how to set up? Simple Savvy Startup has a great course meant for just this without having to spend tons of money. Not only is the course catered to you, but it is specifically designed for your industry: Affiliate Marketing, Network Marketing, Coaching, Real Estate Investor or Agent, ECommerce store, Membership Site Owner and Freelance (bloggers would be freelance).
Just a few things that are offered in their courses are business set up, legal documents, LLC or corp, federal and state laws, accounting, business management and more.
In most cases, a business does not grow quickly overnight. It steadily processes over time and you most likely won’t make a million dollars the first year. Actually, you might be spending time sleeping near your computer or on the couch often because of so much work. Growth can happen steadily over the first year and continue upward from there. No matter how little growth is shown in the first year, keep up the faith. All businesses go through this process and it determines success.
Keep track of income and expenses
It is crucial to get legal, tax and accounting set up. You will have to report their income and pay taxes so it’s important to have a tax id number. Setting up an accounting system to track income and expenses is much easier than writing it by hand. Even if you aren’t making a ton of money or any money, a business is still entitled to tax deductions that individuals are not.
It’s a common misconception that a business should wait until it’s making money to set this stuff up, but then they miss out on the tax deductions. Here is where the exclusive training course from Simple Savvy Startup is so key.
Research a woman entrepreneur
When initially setting up your company, search out another woman competitor. See what type of marketing strategies they are doing and gain more knowledge on what to add to your own plan. Checking all outlets – social media, website, advertisement, sign up for newsletters, etc. Knowing what you’re up against can lead you in the right direction for your consumers.
Take the rights steps in the beginning of your new journey instead of waiting until later and things have piled up. Simple Savvy Startup is the right place for you to begin. Take the “Is Your Business Set Up for Success?” quiz and links to all specific industries. Use this discount code TWL10 for 10% off of your purchase!
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