Ep 02 | Business Readiness 101
Business Readiness and Foundation 101
If you have a dream to be a successful business owner, one of the things you can do is prepare yourself for the success that you desire. Preparation means business readiness, establishing a solid business foundation, having a separate business bank account, having your EIN, filing your LLC, keeping up with annual fees, obtaining insurance and having your own space on the internet. Being a successful entrepreneur is not an easy fit. You have to wear many hats and play different roles in your business. However, whether that is client preparations, bookkeeping, content creation, getting out in front of new customers, or increasing your visibility and production, preparedness and business readiness will help you set the foundation for your business success.
In this episode of the Rhea Whitney Podcast, we talk about business foundation 101, business readiness, and all those things you need to ensure that you have checked off and gotten done in creating and growing your business. If you are ready to grow, take your business more seriously and put your business operations together, setting your business foundation in a way that will support its growth over the years is key to your success.
Listen in to learn the essentials of setting a solid business foundation and growing a business that stands alone from who you are as a person so that you can obtain the success and the money you desire.
What You Will Learn:
- [00:48] Intro and what’s in for you in today's show
- [02:18] Becoming an entrepreneur and wearing the many hats in business
- [03:23] Business Readiness and what you need to have to lay your foundation
- [03:29] Creating a Website and a landing page for your business
- [05:54] Filing an EIN security number and LLC for your business
- [08:20] DBA and when to file it for your business
- [14:03] Business insurance and how to obtain it
- [12:26] About the FHTP program
- [16:54] Bookkeeping and where it comes to Play
- [20:51] A quick recap and key takeaways for you
- [23:00] Call to action and ending the show
Standout Quotes:
- “EIN solidifies that your business is a real business and a true entity, and it stands alone from you.”- Rhea [6:44]
- “As you start a business, an LLC is one of the best form that you can start for your business; it’s a limited liability company meaning that the liability of the business is only for the business and not you as person .”- Rhea [7:13]
- “You are not a legitimate business if you don’t have an EIN and are not an official LLC. EIN is filed with the federal government, and your LLC is filed with your state, and they go hand in hand.’- Rhea [08:11]
- “It’s important to take people from a word of mouth, social media or whatever marketing avenue they found you and pull them over into your own world on the internet and be very intentional and strategic about what you are feeding them.” - Rhea [09:56]
- “If you have the desire and the dream to be a successful business owner, one of the things you can do is to prepare yourself for the success that you desire.”- Rhea [11:55]
- “A lot of times we have to get ready, stay ready so that when success comes it doesn’t overwhelm us, success in business is all about preparation”- Rhea [20:41]
Ready to make your dream a reality?
Here's the link to the FHTP program: https://fhtp.rheawhitney.com/
Here's the link to learn more about the Elevate Accelerator: https://www.photobombacademy.com/wine-not-elevate
Resources Mentioned:
Bookkeeping software, BENCH (affiliate link with unique discount applied!): https://bench.co/partner/rhea-whitney-photography
Stay Connected
Learn more about me here: https://rheawhitney.com/
Follow me on Instagram at: https://www.instagram.com/RheaWhitney/
Connect with me on Facebook: https://www.facebook.com/RheaWhitneyPhotography
