Dear Fashionpreneurs, this is a guest post by Derek Goodman of inbizability.com.
Thank you Derek for sharing your expertise with us once more! (Derek also wrote for us “Savvy Tax Habits for Fashionpreneurs,” which you can check out here).
xxx
Sandra
With businesses across the globe continuing to recover from the COVID-19 pandemic, those who’ve been considering starting a business may feel a bit timid. Although the economy is recovering quite well, jumping into the already risky world of entrepreneurship seems like a bit of a stretch goal. However, as Benzinga points out, many of today’s top companies — such as Hewlett-Packard and Uber — were launched during economic downturns.
Starting a business will always come with risks. There is never a “perfect” time to become an entrepreneur. Being successful in business starts with training your mindset. To begin mastering your thoughts, explore these top tips from Gitana Styling.
Harness the power of business consulting services to conquer your fears.
Trying to improve your mindset by yourself is an almost impossible task. Although you can make some improvements simply by reading and using advice from trusted sources, you won’t see massive results. Imagine trying to self-cure a mental health condition such as anxiety, PTSD, or depression. While there is a plethora of information available on the symptoms and treatments for these conditions, working with a professional will yield far greater results than trying to manage everything yourself.
The same is true with business consulting. Gitana Styling provides expert tools and custom solutions for your specific needs and goals, helping clients with accountability to ensure they stay on track. Learn more about how it works.
Use business tools that help boost your confidence.
New business owners are often overwhelmed with the number of things they need to learn. From researching how to pay sales tax to health code requirements, the learning curve is steep. Feeling like you don’t know what you are doing on a daily basis can be highly discouraging and can cause you to lose your excitement and confidence.
Nowadays, there are apps and business tools for almost every need. By utilizing the ones that will boost your confidence, you can feel much more relaxed when performing new tasks. For example, payroll is one of the more daunting duties for new entrepreneurs. Using mobile phone payroll processing will help you do everything from schedule automatic direct deposits to calculate tax withholdings.
Many of these tools can be run directly from your phone so that you can remain location-independent at all times, so you can stay on top of these tasks wherever you are most comfortable. Being able to run accurate reports and minimize errors as you file taxes will also keep your stress levels low.
Create your own personal support system.
In all facets of life — including entrepreneurship — the American Bar Association notes that having a support system is a must. Surrounding yourself with people who support you does wonders for your mental health and for your overall mindset. Spending time around people who invalidate your efforts and interests can ultimately lead you to lose confidence and eventually halt your business plans. That is why it is so critical to be careful of who you surround yourself with, especially when planning to start a business.
Add even more people to your support system by attending networking events. Meeting local business owners is so valuable when looking for advice, partnerships, and solid connections.
Outsource tasks that you don’t know how to do.
Is there a task that you need to do that you can’t accomplish with a business tool or app? Outsource it! Finding experienced freelancers is easier than ever before. Simply browse a freelance marketplace or job board to find help with tasks such as graphic design, SEO, and more.
One essential task for any startup is establishing the type of operation you want to run, such as an LLC, a sole proprietorship, or a partnership. There are a few options to choose from, although many small business owners opt to do business as an LLC due to its tax advantages and reduced paperwork, among other benefits. The formation process can be complicated and time-consuming, but you don’t have to take it on yourself, nor do you have to pay a pricey attorney to do the work. Online formation services like Zenbusiness can take the load off, and they can walk you through each step, including how to handle LLC taxes in Florida.
Don’t let the fear of failure prevent you from starting your new business. Instead, use the tips above to conquer all doubts and concerns, and to create a path to reach your goals.
Sandra Mateu, founder of Gitana Styling and the Fashion Entrepreneur Club, is a wardrobe stylist, podcaster and fashion business consultant. Contact her today to see how she can help you build a successful fashion business!
Thanks again Derek! | Check out Derek Goodman of inbizability.com.
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