Starting Up Your START-UP! | August Twenty-Two Episode Two
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How do you get started with opening a business?
How can I help?
Why is hiring a CPA important for your start-up?
It's a question I ask my patients every day.
What do you need to know about LLCs and EINs?
It's a question I ask myself.
What challenges do new business owners face?
One thing I've learned is that I can help even more when I can easily connect with physios, pediatricians, specialists, nurses, who are all working with me in a healthcare network that takes a wider view of your health.
How do you find quality vendors for your business?
That's VHI, where healthcare connects.
What strategies can help you balance work and life as a business owner?
So let me rephrase the question.
What initial costs should you budget for when starting a business?
How can we help?
What does the future look like for online businesses?
VHI. Because your health means everything.
Hey y'all, welcome back to August 22 podcast. Today we're gonna be talking about all things business. Valerie and I opened up August 22 Clothing Co. about five to six weeks ago. And our number one question is, how do you even open a business? How do you get started? We've had so many, I guess you could say like young women and people that's just interested in opening an online boutique and they don't even know where to start. We are not professionals by any means. We have been figuring it out you know, as we go. But we're here to give you the answers we do have.
Yep. So why do we recommend finding a good CPA first?
Yes. So our biggest recommendation is a CPA. Definitely. Because she has been the brains behind it all, if you want me to be honest. I didn't realize how important it was.
And honestly, not just for business purposes, but our personal as well.
She's amazing. She is amazing. Cox Accounting in Hammond, Louisiana. If you do need a CPA and you're local to us, Cox Accounting, Miss Lisa and Cheyenne, they're amazing. But a CPA is great because we didn't realize how much went into it as far as business-wise. So whenever you own, I guess, more so like an online boutique, I don't know how it works for all the other businesses, but being that we're selling to multiple parishes and states, we have to pay taxes in every single parish that we sell to. And not only that, you have to do an application.
Parish is like a county, just in case you didn't know, because I know Louisiana is the only ones that have parishes. So they're probably like, what's a parish?
Yeah, so Louisiana is the only one with parishes. So parish or county, we had, well, we didn't, Miss Lisa did, submitted an application to every parish in Louisiana that we sold to, and then we have to pay sales tax every single month to every parish. Our first day opening, we had 33 parishes we sold to just in Louisiana.
Wow.
And that was insane. So she keeps up with all of that, all of the LLC filing. She filed her LLC. Mm-hmm. She literally does everything.
She wants a receipt for everything.
Everything.
We get a notification every morning.
Send me any receipts you got. She handles all of our bookkeeping and payroll for our employees. CPA is good for so many things if you're opening a business or even personal content creation.
Whatever. Yeah. And at first I was like, dang, for what it costs, maybe we can just do it ourselves. But after I was like, you know what?
Yeah. I said, we're going to pay the price. It's worth it. Yeah. Because I wasn't being responsible to make sure the right taxes were paid. I said, I will. There's no way. No.
We would have failed at this tremendously.
Definitely.
Pay for the convenience.
Yes.
For sure.
Unless you are very knowledgeable in that area, I recommend getting a CPA to make sure you're legal and things are done right because it's a lot that goes into it. So that would be our number one recommendation, first and foremost, is finding a CPA. She can start it all for you. Find the LLC, and that's what you need. And even... We had to go to the courthouse to get our sales certificate, and she got all of that set up for us and everything. So big help. So how hard was the LLC process? That was easy. Yeah, it was really easy. We literally just gave her our information. She filed it, and like 24, 48 hours we were approved, and we had our name.
And the easy part is that we didn't have to open up a store. That was the easy part is being that everybody knows that it's Jasmine's shop. But, you know, that would have been a lot harder as far as actually having—
Yeah.
A building.
Right. We still had to be approved by like the parish.
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Chapters
8 chapters
1
How do you get started with opening a business?
0:00–0:01
2
Why is hiring a CPA important for your start-up?
0:01–0:04
3
What do you need to know about LLCs and EINs?
0:04–0:06
4
What challenges do new business owners face?
0:06–0:19
5
How do you find quality vendors for your business?
0:19–0:22
6
What strategies can help you balance work and life as a business owner?
0:22–0:25
7
What initial costs should you budget for when starting a business?
0:25–0:27
8
What does the future look like for online businesses?
0:27–32:47