Hi everyone..before she divorced me I liked safety, consistency, and assurance.I thought I should start a thread to give divorcees some hope (and for myself). On April 20th it will be 2 years I married a wonderful lady. On Friday I left my job to start my own business. I did give 4 weeks notice..
So I have and am taking chances after the divorce. The divorce put me on my back but I'm fighting it all the way by taking chances and getting out of my comfort zone.
Don't be afraid to do what you need for yourselves.
Let's talk business and paying taxes as a small business owner.
Advice and guidance are welcome
M 53 D 20 Separated 6/22/11 moved out 10/24 Together 26 yrs Married 16 W Filed for D 7/21/11 Served 9/6/11 D final 8/28/12
“Failure is not fatal, but failure to change might be.”
I've merged your two threads together because you've not reached 100 postings/replies on your original thread. It's been a while since you've been posting regularly, but we are now in the mode of merging threads with less than 100 postings together whenever possible.
Sit quietly, the answers will reveal themselves when you least expect them to. The past is gone, the present is a gift and you need to focus on today, allow the future to reveal itself when it is ready.
Rick I have several small pieces of advice on business
Have three accounts 1. For taxes etc 2. For business use 3. For personal use
Pay a set percentage of turnover into your taxes account each month without fail
Pay yourself first from your business account a set sum to cover bills
Don't assume profit means cash, new business suffer new business strain (ie profits go to working capital, (debtors stock etc)
Have a good debt collection process with letters that comply with court in your area. You can have terms and conditions always include interest on overdue debts and debt and court collection costs in them.
Have a credit card linked to each account that gets paid in full. Don't mix business and private.
Keep all paperwork, print off bank statements on good quality paper and staple receipts to the back.
Pay the minimum in cash.
Use an online accounts system, one you can scan docs to and attach. I always recommend quickbooks to clients but there are others. Some have an app.
Join a local or national Association for small businesses as this may give you access to legal knowledge and bank deals.
Above all keep smiling, come on in the self employed water is lovely.
WhyUs and I started a business thread but sadly there wasn't much take .
I also recommend prosperity place to my clients for the psychology of money.
Above all have fun
V
Freedom is just another word for nothing left to loose. V 64, WAW
Thanks for the input V. Will keep it in mind. My accountant is walking me through the process so I'm in good hands. At the moment I'm branching out to get more business. I seem to be working harder than when working for someone else. I'm tired at end of day. But feel satisfied. Getting used to not having set hours and income are my biggest learning curve. I guess it's an adjustment. Getting used to being alone is also an adjustment. Everyone is gone by the time my appointments happen. My work starts when kids get home from school in the afternoon and their parents get off from work. So another adjustment. And the big one is not knowinG how much money is coming in since it's my 1st year. Medicaid keeps electronic record of what is paid to me every week. My main income source. So helpful.
The good things>tomorrow I took off. A lil work a lil leisure.
M 53 D 20 Separated 6/22/11 moved out 10/24 Together 26 yrs Married 16 W Filed for D 7/21/11 Served 9/6/11 D final 8/28/12
“Failure is not fatal, but failure to change might be.”
The anxieties of beinG self employed are killing me. Not knowing if I will make money makes me crazy. I'm trying to slow down its only been 2 weeks and 4 days. I am getting referrals but as many as I thought. Very different then working for someone. You know that every other week you will get a check. Time to dust off
M 53 D 20 Separated 6/22/11 moved out 10/24 Together 26 yrs Married 16 W Filed for D 7/21/11 Served 9/6/11 D final 8/28/12
“Failure is not fatal, but failure to change might be.”
I'm in a commission only business that's somewhere between hanging out your own shingle and being an employee. I've learned that when you eat what you kill, you'd better be a pretty aggressive predator. Also that if you ask for help, it will come from some unlikely places. And almost never from the expected places.
If referrals are what you need, I'd reach out to every POSSIBLE relevant acquaintance you've got and ask for them. If you need help with marketing, reach out to marketing people and take them to coffee to ask for guidance. Reach out to people you admire who are in similar positions with their businesses, but five years on, and ask what they did. Find out where the networking hot spots are and haunt them like mad.
I am not an aggressive predator and I'm not sure what my future in my business is going to be. Which is a shame, because it's great in a lot of ways. But it's been a great experience, so i hope you find your stride and more success than I have done.
Best of luck!!
Me42, H40 D12, S8, S7 A revealed: 7/13 Sep 4/14; Agreed to D 1/15
Rick, I've been self employed since 2004. Granted that until a year and a half ago I had the support of WH, but now I'm doing it on my own.
One thing I've found out about being self employed is that it confronts you with every single demon you ever had about yourself. In that way, it's also a really great opportunity for personal growth.
Also, I've found that while I've seen some pretty bad behaviour (and been on the receiving end of it too), your attitude will carry you through. People know me as incredibly positive and very passionate about what I do, and I know that *that* gets me work.
I don't think I can add anything more to what Maybell said above though...really great post.
Thanks guys. I have decided to look for work. I interviewed 2 weeks ago and was offered a position at my state university.I'm waiting for the HR process. I decided to put my business aside and do it part time. The waiting for referrals made me crazy. For 2 weeks I got nothing but in last 4 days I got 5 and tons of evaluations. I have too much time on my hands and began stinkin thinking. I will keep you updated
M 53 D 20 Separated 6/22/11 moved out 10/24 Together 26 yrs Married 16 W Filed for D 7/21/11 Served 9/6/11 D final 8/28/12
“Failure is not fatal, but failure to change might be.”
