It can be daunting when deciding to take those first steps into starting and legalizing your business. As a result, in episode #046 of The First Year Out Podcast, Dyme Witherspoon simplifies that process for new business owners, entrepreneurs, and #CreativesInBusiness such as directors, editors, videographers, graphics designers etc and breaks the process down into 3 separate pillars.
Before anyone can launch a business of any kind there must first be a proven solution! A proven solution means that a particular problem has been identified, solved, and a repeatable process exist for others facing a similar situations (00:54). After you've tested and know that you have something that'll work long term, you can begin making your presence known by branding yourself across both digital and physical spaces such as social media and at networking events (02:50). The last step which also can be intertwined with establishing your presence has to do with legal. Legal isn't as overwhelming as it sounds: this is simply where you set a legal structure such as LLC or SCorp to add a layer of protection between your personal and your business assets, this is where you'll separate your personal funds from your business funds by using a dedicated banks account, this is also where you'll set up how you'll make and receive payments (06:52). Now while this may seem extensive, once broken down into sections it is nothing that is too complicated.
The First Year Out Podcast was produced by DymeDigital Media.
#Veteran and start up founder Dyme Witherspoon kick back to talk #entrepreneurship, monetizing your passion, and ultimately being a #CreativeInBusiness.
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