Starting your own business

I’m in month eight of running Altrui Consulting full time, and even though that seems like a long time, it really isn’t. I continue to learn something each day about not only how to run a consultancy, but learning about something I hadn’t even considered the day prior!

Like most things in life there are pros and cons to starting your own business. I seem to have mostly pros so far. I also have a spouse that is bringing in a paycheck and I have other sources of income in other work. That’s important to consider. It’s great to go off and start creating the job and business of your dreams. Just remember that you need some type of revenue at all times.

I chose to go the Sole Proprietorship route. It’s just me and it’s always going to be just me. When I send some work out to a colleague, it’s due to the fact that colleague can do the job better, and they just take on the client. This has helped me build trust with my clients, saying when I don’t know or when there is someone I know who could do the work better than I could. Nothing like building a deeper trust with your client.

I set up a business account at my local credit union and got the smallest QuickBooks account. I learned quickly that as much time as I spend trying to grow my business and secure new clients, I also had to spend time with business housekeeping. For example, if I’m not sending invoices, I’m less likely to get paid!

I spend time in my social media accounts every day. I was fortunate to have had Twitter, LinkedIn and YouTube accounts when I began. After learning more I added a business Facebook account an a business Instagram account. Both are slowly growing and get me in front of different people.

A note about social media. I don’t need my Instagram account to have several thousand followers, unless I know the majority of them. I am carefully and strategically growing my Instagram account because I want it to be relevant and I want to be in relationship with those I am connected with. That takes time. I’m patient with the growth.

My last experience that I’d like to share is how important it is to have an accountant. One who will talk through next steps with you and can be a great resource on all things taxes. Yes, taxes!

More to come. Thanks for reading!