BUSINESS SET-UP NEW ENTREPRENEURS’ GETTING STARTED Nadine A Thompson CEO/Founder
Cheryl A Cormier Executive Vice President Vice Presidential Marketing Director
WELCOME! •ENSURE YOUR SUCCESS •A PROPER START •GREAT BUSINESS HABITS
BUSINESS
SET-UP
PART 1: PART 2: PART 3: PART 4: PART 5:
MILLIONAIRE MINDSET YOUR FIRST 30 DAYS SUCCESS PLAN RESOURCES BUSINESS SET-UP
THE TRUTH ABOUT…
• A BUSINESS NAME (DBA) • A BUSINESS CHECKING ACCOUNT • HOBBY vs BUSINESS
YOUR HOME BUSINESS AREA Separate from personal space Exclusive use of area for business Determine % of total home
SEPARATE CHECKING ACCOUNT Keep your business funds separate from your household funds Deposit all income: sales, commissions Pay all expenses: auto-ship, event registrations, business use phone, buy supplies, etc.
AUTO-MILEAGE LOG Get an accurate beginning and ending mileage for the year. Log start/end mileage for each business trip. Keep all auto-repair receipts.
RECEIPT FILE (W/MONTHLY SLOTS) Keep all business receipts by month Make sure the business purpose, place, who and date on each receipt Use DEDUCTR or MONEY to track Maintain an expense spreadsheet
FIND A TAX PREPARER WITH DIRECT SALES INDUSTRY KNOWLEDGE Know applicable tax deductions Advise on paying self-employment tax Advise on IRA, charity contributions
712-432-8904 Code 47685#
New Entrepreneur Call
GETTING STARTED Tuesday Night @ 8pm ET!