ABC's of Starting a Business

This web page is mostly about how to manage the money you make with your business. Have you heard, it takes money to make money? That's true. Your business is about your products and services.
Your services are not the same as you. You might be needed for your service to happen. When you're not doing your service is your free time. Make certain to take time for yourself away from work. Focus on achieving your goal.
When you first start up your business you might already have all the things you need to sell your products and services and make money doing it. You might have a personal checking account with your VISA Debit Card, it's a good start and is not enough to start a legitimate business.

Before you open a business bank account register your business's name with the Secretary of State at their Office in the State where you live. You can probably do that online at the State's Government website for about $50. The Secretary of State will provide you with a document that has your official business name registered with the State on it with the Sate Seal printed on the Document. You can bring the document to where you bank to open a business bank account. If you make a lot of money with your business, you would be wise to open a bank account with your full legal name with the name of your business on it.
The second document you will need to open a business bank account you can get from the Internal Revenue Service. It is your EIN number. Your EIN number is for Taxes to keep track of the money you make in your business. It's free to apply for an EIN number at https://IRS.gov website and takes less than 10 minutes. Bring the official document from the IRS with the IRS Seal printed on it and your EIN number listed on it with you to where you bank when you apply to open a Business Bank Account.
Being too legit to quit is important. Eventually your business will need more supplies and to buy them at a discount you’re probably going to need to open an account with the supplier. A business that sells you the supplies you need to turn them into the products you sell is going to need your EIN number so you can order supplies without being charged taxes.

Do you need to buy supplies at the wholesale price? Are you not making enough profit from the sales your business does because your supplies are too expensive? If you pass the cost of expensive supplies for products you sell to your customers, too much money is being spent. This is an opportunity to save money on supplies your business requires while making more money on your sales. Make sure to use your EIN number in time to save you money and set your prices competitively. Your bank account should have a record of every financial transaction you made to your account up to the current date it is open. The records on your account should show the names of the businesses you spent your money at and the time and date and the dollar and cents amount of the transactions when you paid using your VISA Debit card. Much of the same information should also be on record when you paid with a written check. Having your own bank account will help an Accountant reference your financial information when you are ready to file your taxes. Bankers and tellers at a bank can help you keep track of your money, and keep it safe. Most banks these days, all the banks I’ve heard of offer online banking. The same internet access you are visiting bizconsult.me with, you could use to manage your bank account online. Some people don’t trust banks and keep their money under their mattress. Remember your money is yours. You might be wise to invest in a safe. A safe would be a much more secure location to keep your money than under your mattress. I won’t say that every bank and every banker is trustworthy. For example, there are banks that have reportedly funded terrorist networks. And from time to time in the news there are reports of bankers stealing their customers’ money. Your money is yours and it’s up to you to keep it safe. I choose to have a bank account. That is my choice. I have faith that 99% of the businesses I do business with won’t skim my VISA card. The 1% chance of my VISA card getting skimmed at a business is a risk I take. If there is questionable activity on my bank account, my bank is quick to send me a text about the activity with a number to call to speak with a live representative of my bank and for me to confirm or deny the activity. I put some faith in my bank and believe they are protecting my money and making sure no one else is spending it. I’m not going to tell you what the best bank is and where to do your banking. I’m not paid to promote a bank. Choose a bank to do business with you trust. It might be a small local bank, or it might be a bank that has the largest building as far as the eye can see. Maybe you would rather secure your money at a Credit Union. They all work, what works best for you is what matters most. It’s your money and is yours to manage. The longer you’re in business and the bigger it gets with increases in sales the more support you’ll need from other businesses like a lender who can help you to build your business.