SETTING UP YOUR HOLISTIC BUSINESS
Article by Darlene Dunn
Photo Credit: Sajas Minrah
Magazine: Issue #34
When my husband and I decided to open our holistic business 9 years ago, we decided we would not go into debt to do it. We took some cash from our household savings (this was later paid back to the household budget) and started our business. We started with a vision and a solid business plan over the years we have modified our business plan to reflect our goals for growth.
Initially, we rented a small room and then as our business grew we were able to rent a larger space. We made several mistakes as we started our business; but we learned from them and grew. Remember, a mistake doesn’t mean failure unless you quit. We were naïve and allowed landlords too much control; these were painful and costly mistakes but we persevered and learned.
In our holistic business we have licenses and insurance fees that are on set schedules. We set up a business saving account so we put money into that account to save for these expenses; this way large chunks of money do not come out of our account monthly. Another big tip we have for any entrepreneur; save EVERY receipt.
It is easier to determine you cannot deduct something than it is to reproduce a missing receipt.
We are very proud that our small business has survived almost a decade now. Running our own business is a family affair. Our 12-year old daughter earns money by helping with data entry and mailings to our clients. I want to encourage everyone that it is possible to be successful as an entrepreneur. I still work full time as a nurse and part time in our business; however, my husband is full-time in our business. Our goal is for both of us to eventually be full-time in our business; however, this is not the season for that, and that is okay.
Decide on your business, make a business plan, and step out in FAITH! You got this!