Financial Mistakes to Avoid When Starting a Business | Business 101

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  • Опубликовано: 13 сен 2024

Комментарии • 47

  • @iamDestinyAdams
    @iamDestinyAdams  Год назад +1

    Get FlyFin's $49 Ultimate tax guide for FREE: flyfin.tax/ultimate-tax-guide?

  • @dotpenji
    @dotpenji Год назад +14

    Love the section on Personal development. With many of the entrepreneurs we have worked with, it seems like many get stuck in the weeds of their businesses and stop developing their mind state around their business. In other words they lose sight of the forest through the trees. Growing a business is a journey and it doesn't happen overnight. Along the journey you need to be taking steps to improve not just your business but your own personal self.

    • @joveponseca9964
      @joveponseca9964 Год назад

      100% agreed! Personal development is an investment in yourself that ultimately benefits your business, your team, and your overall well-being. 💪

    • @motivatedbeastph
      @motivatedbeastph Год назад

      that's why when building a business you need to have a goal for the future, you can't make your brand or business without it.

    • @abigailcayetano487
      @abigailcayetano487 Год назад

      Trueee @@joveponseca9964 When you invest in yourself, you're not only improving your abilities and knowledge, but you're also cultivating a growth mindset and a deeper understanding of your own potential. This positively influences your business through improved decision-making, leadership, and adaptability. Moreover, prioritizing personal development also creates a positive work environment, boosting team productivity and collaboration.

    • @aicetaylor8332
      @aicetaylor8332 Год назад

      Just as a business evolves, so should the entrepreneur behind it. Continuous growth, both in terms of the business and personal mindset, is key to navigating the journey successfully. Well put!

    • @monicasoriano8581
      @monicasoriano8581 Год назад

      Totally agree! if there is something needs to put an attention to that is Financial literacy this helps us manage our money wisely, make sound financial decisions, and achieve financial stability in life. On top of this, financial literacy also helps us get through the unexpected moments in life - like a medical emergency or a sudden loss of employment.

  • @bloomingvoyage
    @bloomingvoyage Год назад +1

    Such helpful tips!! Thank you Destiny!

  • @zionrose007
    @zionrose007 Год назад +2

    Great advice as usual.

  • @sanonisaac8868
    @sanonisaac8868 Год назад

    good job madam

  • @Renias_beautiful.22
    @Renias_beautiful.22 11 месяцев назад

    Your the reason I’m going to win!

  • @davuism
    @davuism Год назад +1

    The fly fin link is not winking

  • @sharonironman4547
    @sharonironman4547 Год назад +1

    Thankyou for this great video 😊❤

  • @DeeBlaregold
    @DeeBlaregold Год назад +1

    This is great advice. Thank you.

  • @asassisoul7881
    @asassisoul7881 Год назад +1

    Thank you, Sis!

  • @machougeorgess9519
    @machougeorgess9519 Год назад +2

    Why do I feel so guilty 😩 that’s why now I close my business location and work from home and business is👎🏾☹️ make barely any money from my business 😢 I need help!!

  • @Quannye
    @Quannye Год назад +2

    Such a great conversation starter. Has you running before you even get started. I’m having a hard time trying to build my personal credit first while still starting my llc plus start these business relationships. It’s definitely a lot to balance while trying to work a 9-5/ build up myself. Like where do you even start?

    • @iamDestinyAdams
      @iamDestinyAdams  Год назад +1

      What type of business are you starting? I would honestly start slow and build as you go. It’s all a learning process

  • @Jhenesrandomthoughts
    @Jhenesrandomthoughts Год назад +3

    I got it bad with keeping the finances separate 🤦🏾‍♀️ but I am definitely learning more and more as I go! My financial institution want 2yrs of before they allow a business account. Would you suggest just having a separate bank account that you can use for your business, even if it's not technically a business account? (I hope this was worded right)
    Also, do I need an EIN with my LLC ? Is it required for taxes?

    • @iamDestinyAdams
      @iamDestinyAdams  Год назад +2

      I would get a different bank for my business to start right away. Download the tax guide for the requirements.

  • @NunizzleTv
    @NunizzleTv Год назад

    The link 3:23 for the book isn’t working

  • @Product_Reviews_with_Amanda
    @Product_Reviews_with_Amanda Год назад +1

    I already made mistake 1 but things are so new and it's a small trial run that applying and paying for a llc doesn't make sense if I make nothing. I can't get a business account without a llc I did get a ein beacuse I had to in order to list them for sale on the platform. Which I plan to file even if I am in the negative. I did however keep all purchase receipts and have a record of everything purchased and used to build this "buiness" if u can even call it that at this point. Right now I am tossing a few things out there to see if anything sticks. But I am paying attention to detail. But my budget is very very limited like there is no money for marketing or advertising so I am using social media accounts to do that currently. I am also having others with large followings help me with this to reach as many people as possible and I am going to launch during a live event with special guests to go live with me that have all used the product I am launching. A singlet, author, a mom, influencer etc each brining there own unique options and ways to the chat we are going to have. I am also offering purchase incentives for example limited custom products that all align with my brand

    • @iamDestinyAdams
      @iamDestinyAdams  Год назад +1

      You can be a sole proprietor for the separate business account. Or just open a different account to keep the funds separate from the account that you normally use. Keep at it if your passionate about it. Business takes time.

  • @TheSexymomo1
    @TheSexymomo1 Год назад +1

    I found Destiny's page today! I am in the middle of working on my business plan and I love the content she creates. I can't afford to pay for a mentor at the moment, but I am definitely working on getting to place where I can!!!

  • @ogundokunmarvellous
    @ogundokunmarvellous Год назад +1

    Love this section am really inspire
    Stemstep 409 Obadare Marvellous