I ran my own business for four years. I was dismayed to discover, however, that my boss was still an asshole.
Although you have asked for recommendations, I'll offer some, which you are free (of course) to ignore:
I hired a bookkeeper, an accountant and a lawyer. The lawyer kept me out of court. The bookkeeper did the books monthly. The organized books were turned over to the accountant once a year. These three investments saved me a metric fuckton of money.
If possible, take one third of your gross income and put it in the bank. Consider this the WTF fund; unexpected insurance costs, taxes, roof caving in, etc.
Finally, and most importantly, pay yourself. Please. It was so easy to forgo my salary in favour of 'keeping the business running'. That strategy made me resentful.
no subject
Although you have asked for recommendations, I'll offer some, which you are free (of course) to ignore:
I hired a bookkeeper, an accountant and a lawyer. The lawyer kept me out of court. The bookkeeper did the books monthly. The organized books were turned over to the accountant once a year. These three investments saved me a metric fuckton of money.
If possible, take one third of your gross income and put it in the bank. Consider this the WTF fund; unexpected insurance costs, taxes, roof caving in, etc.
Finally, and most importantly, pay yourself. Please. It was so easy to forgo my salary in favour of 'keeping the business running'. That strategy made me resentful.
FWIW. Congrats and be well.
...s