Have you rolled your eyes recently at someone that asks, “Oh you’re free since you just blog, right?”
The question you need to be asking yourself is why they’re referencing your business that way. Could you it be the way that you are portraying and manifesting your business?
It’s time that we all start treating our online business like a business. It has to start with us!
Becky Mollenkamp of BeckyMollenkamp.com and I are diving into the how to treat your online business like a business so that you can stop rolling your eyes so often.
IE 35: How to Treat your Online Business like a Business
In order to have the conversation about how to treat your business, we first need to define what qualifies as you having a business. There is controversy out on social media about when you can call your business an actual business rather than just a hobby. In our opinion, you are a business once you receive money for your products or services. With that in mind there are specific ways you can make sure that you are treating your business like a business.
How we Talk
If you’re getting upset with how others are talking and referring to your business as “just a blog” or “just a freelancer” then it’s time to look at yourself. How are you referring to your business? You have to make sure that the way that you are talking about your business is as the CEO of your company. You’re not just writing a piece of content. You’re running the daily activities of your business. State with confidence that you own your business.
Walk the Talk
Treat your business like a business by the way that you run it. The first step is to get an EIN and create that business so that when you need to give your information for tax purposes, you’re not giving your social security number. That is the fastest, easiest and cheapest way to turn it into a business. Also speak to your tax professional and determine if you should apply for an LLC or an S-Corp. It’s important to establish and protect yourself. The final piece of walking the talk is getting a separate business bank account. When you project a different image it can lead to the financial desire you are looking for.
Look the Part
It’s important to project professional branding for your business. Clients and brands will make decisions based on the appearance of your site. It’s important to have professional, polished head shots and logos. If your head shot isn’t old enough to buy you a drink, then it’s time to get a new. You don’t need to spend a ton of money just enough to give you a professional look.
Be smart about spending. It’s not necessary to spend a ton of money right out of the gate. Spend the money you have and not the money that you don’t. If you don’t have the money then budget for it until you do have it. It’s not necessary to have all the latest and greatest software or programs. Be sure to remember taxes and think about hiring an accountant or even bookkeeper so that you understand your finances. Check out episode 19 on Importance of Financial Records for your Online Business for more on handling your finances.
Network like Crazy
It’s important that as online entrepreneurs that we find a way to network with others. Whether you are networking at local business events or conferences in person, or online using social media outlets like LinkedIn. It’s necessary to find like minded business owners to share strategies. Another great way to network is via masterminds. Masterminds are a group of like minded individuals that work together through their business ideas. It gives you the opportunity for growth, focus and accountability. If you’re looking for a mastermind, apply for our Fall Mastermind HERE.