May 30, 2024
Small Business Series Topics:
Net Operating Losses
Cash Flow vs. Net Income
Financing
Sales & Marketing
ERP System/software selection
Tax efficiency
Team members roles & responsibilities
This blog will track my endeavors as a small business owner. and serve as an outlet for me to communicate my daily thoughts. The above topics are those running through my mind pretty constantly, the hardest part thus far is the isolation, self-talk (at times), and managing and utilizing time & energy effectively. It’s sacrificing alot now for a potential benefit later, so fear is definitely present. However there is a very liberating aspect of it, and I can’t emphasize that enough.
Small business series will include video content and courses for each of the above topics. The paperwork and legal aspects of setting up small business, I will leave out. There are many websites out there that provide those services and the requisite training. Here, I’d like to focus on the various considerations (psychological, physical, financial, and operational to name a few) and challenges that come up. The path to the goal is never easy, a trail of bodies and slain dragons and rescued princesses lay in your wake. Yet, you wake up and keep pushing through, the grit and tenacity of sheer will and determination can’t be bought, it’s learned & earned baby. If you want it, you go get it. Otherwise, you probably didn’t want it bad enough. How fucking simple is that?
By far, the most important topics I wish to delve into here are NOLs and Sales & Marketing. Net operating losses allow a business to earn losses in one year and offset future income taxes in future years. Have you ever wondered why start-ups are in losses for years even though they have sky-high valuations?