I want to share 3 common mistakes entrepreneurs make. These mistakes can be avoided by simply consulting with a professional before you start your business. I’ve notice we feel like we can slack the first two years of our business. The down fall to that is, you create some bad habits that are hard to break. So here are so common mistakes I don’t want you to make. If you are doing these things in your business, don’t trip or panic. Just learn from your mistakes and do better.
Most of us start a business so that we can have additional income or so the business can pay us. Rather that is full-time or part time. I hope that your goal is to make money. If not, why are you in business? You are in business to not only share your gifts and talents but to also get paid for them.
So, the most common business entity to start is usually an LLC. Many people start as an LLC because it is one of the simplest entities to run that provide asset protection to owners.
What many people don’t know, is that members of an LLC cannot pay themselves a salary or expense out their time spent in running or building the business.