Entrepreneurs start businesses for a variety of reasons: seeing a great idea through to completion, challenging themselves, or very often, out of a desire to be their own boss. There is a lot to be said for the freedom and flexibility that comes with owning your own company, but how do you channel the thrill of entrepreneurship into a long-lasting, wealth-generating enterprise? That’s our subject for episode 3. We talk about the difference between having a job and having a business, as well as the connection between planning and doing what you love. We discuss specific ways to set your business up for longevity. Finally, we provide some resources for learning about enterprise building if you don’t have access to a business consultant, financial planner, or CPA.
Do you have finance or business questions that you’d like to have answered on the show? Contact us on Twitter, Facebook, via email
Note: We’re moving to Mondays! We will still be posting episodes every two weeks, so join us on October 23 for more real money talk.
Show notes are located under the cut.
Mentioned in the show
- For more information about working on your business vs. working in your business: The E-Myth
- SizeUp, the Small Business Administration’s industry benchmarking tool
- Process Management: We use Jetpack Workflow, which is especially for accountants and bookkeepers.. This article has a roundup of other software to help create and manage business processes. Finally Process Street, is another process management program that also has a useful blog with plenty of tips and templates for writing and implementing processes (recommended: How To Create a Process People Won’t Hate Using )
Bonus: Protecting Your Personal Wealth as a Small Business Owner
A detailed guide to starting a small business including tips for long-term success. [The audience is prospective spa owners, but there is a wealth of information that applies across industries].
Another source of resources for building a long-lasting enterprise: your local public library.