Category Archives: Business

Self-Employment 101: Managing Your Business Finances With Mountain Ridge

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Planning your year

If you’re planning to start your own business in 2019, here’s some advice to make it an amazing year!

Thank you to Mountain Ridge for sponsoring this post.

Tax season is upon us, which means that it’s a great time to get your finances in order for the year. If you’re thinking about starting your own business in 2019, it’s important to know what you’re getting yourself into financially. It’s very important to get a grasp on the financial side of things before you take any further steps – starting a business is not something you want to do impulsively!

Self-Employment 101: Managing Your Business Finances With Mountain Ridge

If you’re used to working for someone else, dealing with business finances is a whole other beast. Here are some important questions to ask yourself before you take the plunge:

  • What type of business are you launching? The type of business you plan to start will inform how you manage the financial aspects. For example, my own business required almost nothing in startup costs since I originally started it as a free Blogger.com account; but if you’re planning to open something like a restaurant or retail store, your startup costs will be very different. It’s important to do extensive research beforehand, so that you don’t end up spending far more on your business than you anticipated or launching a business venture you can’t afford.
  • How will you finance it initially? I started my business by registering a domain name which probably cost around $1, so I essentially started my business with the spare change hanging around my purse! 99% of businesses will require more than “A couple of bucks I found in the couch cushions” to start, so you’ll need to consider whether this money will come from a bank loan, personal savings or investors.
  • What are your plans for growing the business? My business costs have obviously grown to be a lot more than that initial dollar investment. I re-invest some of my earnings back into the business to cover expenses, which makes practical sense for the type of business I’m running. Your own business plan may require taking out a loan to keep up with needs. There is always a fine balance to be found between spending enough so that your venture can grow, but not spending so much that you cut into your profits excessively – or worse, accumulate debt that doesn’t even result in higher earnings.
  • Have you sought advice? Talking to others in your desired field can help give you a reality check about what to expect starting your business venture, so it can be helpful to “Talk shop” with colleagues – just don’t harangue them for too much free advice! While your peers make a good sounding board, the people whose brains you should really be picking are professionals. Get a recommendation for a great accountant who is familiar with your line of work – you will need one. Depending on the type of job you’re doing, a consult with a lawyer may be necessary also. And depending on how you finance your business, you may need to speak with your bank or a debt consolidation agency such as Mountain Ridge.

What is debt consolidation, anyway?

Debt consolidation refers to a refinancing process where you take out one large loan in order to pay off a myriad of others. For example, if you have three different credit cards that have all amassed debt, you might choose debt consolidation through a company such as Mountain Ridge in order to pay off the three credit cards and consolidate all of the payments into one loan coming from one place.

Why choose debt consolidation?

The goal of debt consolidation is to obtain a lower interest rate in order to make debt repayments more manageable, and streamline all the loans into one single payment so that it’s easier to keep track of everything – for example, you might have a hard time keeping track of your loans if you have several, and run into issues with late payments simply because you forgot one or misplaced a bill notice.

Is debt consolidation right for me?

I take debt very seriously, and encourage great caution and thought before amassing any debt or taking out any loans. It’s crucial to seek advice from professionals to find out what the best course of action is for your unique situation. Read up on the topic, do extensive research, and talk to others who have consolidated their debt. With careful consideration, you can ensure that whatever decision you make will be the most fiscally responsible and beneficial to your budding business.

Taxes

Self-employment taxes: One of the least fun parts of running your own business!

Consolidating debt is just the first step

Something important to keep in mind is that funding the launch and growth of your business is just one aspect of the financial management you’ll need to do. Will you have employees and a payroll? Are you prepared to do bookkeeping, or are you hiring someone else to do that? How will you manage taxes? After all, you’re the boss, so you’re the one withholding your own tax payments now – so you definitely need to make sure you think about that before you get sticker shock from a huge tax bill! Be honest with yourself, and dig deep; many businesses fail because they are poorly thought out. Don’t set yourself up for failure or take on debt that you can’t afford. As your mother always used to say, look before you leap!

Affirmations & coffee

Encouragement & coffee: Two very important things for any business owner!

Self-employment can be very challenging, but also very rewarding. The more prepared you are, the better you’ll do in your venture, so take your time – good things come to those who wait!

So tell me, readers: Have you ever used a debt consolidation company like Mountain Ridge before? What was your experience like? Tell me in the comments below!

4 Tips For Female Entrepreneurs

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This is a sponsored post, and contains my Amazon Associates link.

As a #GirlBoss who is now 22 years (!!) into my career, I often get asked for job advice by other women. I really enjoy encouraging other female entrepreneurs, and while I could talk for hours on this topic, today I’m distilling it down to four simple things I’ve observed over the years.

#1: Beware Burnout

Burnout is a pitfall that I think most business owners face at one point or another. We’re all stressed and overextended, but it’s worth remembering that women have unique considerations in burnout, including the persisting social expectations for women to do the bulk of household management even when working the same number of hours as their male partners. An ounce of prevention is worth a pound of cure, so I’d recommend putting some burnout strategies into place before the wheels fall off: Perhaps start by reading a book such as High-Octane Women: How Superachievers Can Avoid Burnout, so you can more quickly recognize and address the signs of burnout.

#2: Don’t Undersell Yourself

I can’t tell you how many times I’ve heard my female colleagues undersell themselves. When asked about their job, I’ve listened to so many female bloggers reply something to the effect of “Oh, I’m just a mom, and I have this little blog thing…” These aren’t ladies who have a side hobby; these are women who earn a full-time income from their blog, have signed contracts with some of the biggest brands on the planet, and are being routinely invited to red carpet Hollywood premieres. How many men with that kind of resume would refer to themselves as “Just a dad“? Don’t be afraid to take your accomplishments seriously – it will make others take them more seriously, too.

#3: Stand Your Ground

We all know that successful people often fail many times on their way to their goals – but women are also at risk of experiencing the special sting of being overlooked due to gender. Not all men, of course, but if you are a woman who exists on this planet, I can guarantee you will encounter a sexist person at least once in your life. As a female entrepreneur, you may experience condescending treatment, sexual harassment or even lose an opportunity you are qualified for strictly due to your gender. Get mad, and then get even: Because the best revenge of all is success.

#4: Take Inspiration From Your Community

Networking is crucial for building your business, and it also gives you the opportunity to connect with other female entrepreneurs. Any time I attend a blogging event, I relish the chance to chat, brainstorm and commiserate with other women in my field, which has resulted in amazing friendships in my personal life as well as moral support on the job. And beyond your immediate community, it can also be useful to look to female role models who have found success on large platforms. Whether you’re flipping through a copy of Sheryl Sandberg’s famous book, or reading the blog of Origami Owl CEO Chrissy Weems, it can be helpful to draw inspiration from highly successful women.

#GirlBoss

What tips would you share with another #GirlBoss?

3 Tips For Hiring The Right Consultant

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3 Tips For Hiring The Right Consultant
This is a sponsored post.

If you run your own business or work in management, then it’s likely that at some point the topic of consulting will come up. However, “Consultant” is such a broad term that it could mean everything from a medical doctor to a self-professed expert on a niche topic. So what exactly is a consultant, what do they do, and how do you hire the right one?

#1: Research What it Really Means

Broadly speaking, a consultant is anyone who specializes in a particular area of expertise and is available to advise others. In large organizations, consultants can work full time on staff to direct different departments in best practices. In other scenarios, consultants will also run their own independent consulting company full time and be hired on a case-by-case basis by others who need coaching for a set period of time. These type of advisers can be found in a range of fields, offering a wide variety of services to help guide and develop specific needs. There are even consultants who train other people how to be a consultant themselves!

#2: Know Where to Look

How you find a consultant will vary greatly depending on your field and what you’re looking for. If you’re a business owner looking to develop and improve a particular aspect of what you do and need a dedicated consultant, you might research consulting firms, ask for referrals, recruit on a job board, or even scout LinkedIn for potential hires. In other instances, an expert may be hired to consult on a temporary basis in addition to their regular job – for example, a filmmaker writing a script about dinosaurs might hire a paleontologist on a one-time basis to consult on their set to ensure accuracy. Ask yourself what your needs and goals are, and use that as a jumping off point to start the search.

#3: Learn How to Spot The Right Candidate

Since consultants are meant to be experts in a specific industry, word-of-mouth recommendations from trusted colleagues in your circle carry weight and can help you narrow down potential candidates. Credentials will include their education, resume, and any accreditation with relevant organizations – for example, management consultants can join The International Council of Management Consulting Institutes – but since consulting covers such a broad swath of specialties, not all areas have an organization such as this. As with hiring any candidate, vetting their resume, background and references is of utmost importance; and when it comes to a niche like this that is rife with corporate buzzwords, you want to make sure you’re hiring an actual expert – not just someone who has talked themselves up with nothing behind it.

10 Helpful Tools For Setting up Your First Blog

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10 Helpful Tools For Setting up Your First Blog
This is a sponsored post.

Starting a new blog is a big project. If you’re dipping your toe in the water for the first time, it can be hard to know where to start, so today I’m sharing 10 helpful tools to assist you:

1. Hosting: There are lots of free platforms available for starting a blog if you just want to put together something quickly for fun, but if you’re planning on using your blog professionally, then you will want to purchase hosting and a domain name. This doesn’t have to be a big investment: Small hosting packages start around $10 per month, and you can register an inexpensive domain name on GoDaddy.com – check RetailMeNot for coupons and you can usually get a URL for around a dollar!

2. Blogging Platform: I use WordPress to create and run all of my websites and highly recommend it. There are many in-depth tutorials that are just a click away on Google, so you can learn your way around it and set it up yourself, or you can hire a web designer to do everything for you.

3. Stats: It’s crucial to set up a system for analyzing traffic and search data on your blog. I personally use a combination of AWStats and Google Analytics. If you want to go even deeper than that, Profisee MDM has a roundup of 30+ more data management tools that you can check out.

4. Graphics: You’re going to need an image program to create and edit photos for your blog posts. Adobe Photoshop is the gold standard for graphics, but if you’re just starting out, you’re probably going to want to keep it simple. I like GIMP, an open source image editing program, while many others find PicMonkey to be an easy-to-use tool.

5. SEO: “Search engine optimization” is exactly what it sounds like: The process of making your content easier to find on search engines. For example, you might write a great post about your Grandma’s one-dish creamed chicken recipe, but if most people are searching for “Creamed chicken casserole” instead, they’re more likely to miss your post because of the word choice. You shouldn’t sacrifice originality, but there are occasions where small tweaks that don’t impact a piece creatively can better target them to be found among the billions of posts on the Internet. Two good tools for learning your way around this is Google’s Keyword Planner tool and the Yoast plugin for WordPress.

6. Writing: Back in the old days, I used to keep a dictionary and thesaurus by my typewriter (!). Nowadays, everything is just a click away online! Spellcheck will automatically catch most spelling errors, but Merriam-Webster is still your friend for verifying word definitions. I use the Dict.org online thesaurus when I’m writing something redundant and need inspiration for alternative phrases.

7. Editorial Calendar: Whatever posting schedule you decide on, you’ll need a way to keep track of what you’re publishing, deadlines, and other to-dos. I personally use a pen and paper planner because that system works best for my brain, but the almighty Google Calendar is a good virtual option for those who prefer to keep track of their schedule in the cloud.

8. SPAM: Oh, you got your first blog comment! Oh – it’s SPAM. All blogs get inundated with SPAM, so you will need a filter to keep it manageable. Akismet is an anti-spam plugin for WordPress with plans starting at $5 a month, while Antispam Bee is a free alternative.

9. Social Sharing: If you don’t have an easy way for people to share your content, they won’t! Make sure you have a plugin that will add social sharing buttons to your posts so that people can easily share your post on Facebook, Twitter, and so on. I use the plugin Shareaholic for this purpose.

10. Caffeine: Setting up your first blog is a huge job, so stock up on the coffee – you’re going to need it!

What are your favorite blogging tools?

How to Gain Readers For Your New Blog

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How to Gain Readers For Your New Blog
This is a sponsored post.

Congratulations! You just launched your first blog. At first, you may feel like you’re talking into the ether when you’re posting for essentially no one. Building a reader base takes time, so for today’s Blogging 101 lesson, we’re going to talk about the basics for driving traffic to your brand new blog.

Gaining & Maintaining Readers: Content, Navigation & Value

If you’re in the process of hiring a web designer and launching a blog for the first time, you may hear buzzwords like “User engagement” or “Customer onboarding” thrown around. UserIQ has a lengthy article explaining what customer onboarding is, which basically boils down to the practice of streamlining your product – in this case, your blog – to make it more user friendly, direct readers to your best content more efficiently, give them an incentive to return, and analyze your traffic data to better refine what you do. For a blogger, your “Customer onboarding” experience is going to focus on three key areas:

  • Content

    • The Internet is an endless rabbithole of websites and entertainment, so if you want to gain readers, you have to offer content that is valuable. What is your blog about? Are you here to entertain, inform, help? Who are you appealing to and what do you want to achieve? Regardless of your niche, you have to offer something that people want in order for them to read. I’ve been blogging for 10 years now, and in recent times I’ve seen a great number of successful blogs fold and shut down. There are many reasons for this trend, one of which is that it’s tough to compete in a saturated market and many people get fed up with it. This is why I think that it’s more important than ever to follow your own voice and offer something unique, rather than trying to follow the same template that XYZ Blog does. What would you want to read? What do you need when you do a web search?

  • Navigation

    • Having a user-friendly blog is very important. If readers can’t find what they need easily, they will give up and move on to the next search result. Make sure your best content is easily accessible so that people don’t leave! And don’t forget your “Other” customer – the PR representatives and companies that you’d like to work with. Make sure your email address and relevant social media links are effortless to find; this may seem like a no-brainer, but I’ve worked on several PR outreach projects myself and you would be amazed at the number of professional bloggers who don’t have an email anywhere on their blog. I wasn’t able to contact those people, even though I wanted to work with them – so don’t let that happen to you!

  • Value

    • If you want readers to return to your blog, you have to offer an incentive. Having interesting or helpful content is the best way to inspire people to bookmark your blog, but it’s not always enough by itself. To maximize the number of readers that you can reach regularly, you can offer something valuable in exchange for them subscribing. Think about offering your email subscribers a special perk, like a free download, an exclusive ebook, or an entry into a giveaway.

What strategies have you found helpful in growing your audience?