The Truth About Entrepreneurship

Honestly, entrepreneurship is what you make it! The secret is knowing your worth and setting boundaries. You’ll learn lessons in entrepreneurship on a consistent basis which will allow you to adjust accordingly. I can’t tell you how many times I’ve had to experience things the hard way but, it made me a better person and taught me a lesson in the process. There’s always a misconception that entrepreneurship is easy and looks glamorous from the outside looking in.

Let me stop you right there! Entrepreneurship is countless hours of pursuing your dream. You’ll put more hours into your own business than a full-time job. You’ll be a living, breathing advertisement for your brand. The benefit to be an entrepreneur is that you can make decisions based on your terms. If you want to travel, you can schedule time to travel and decide whether it will be leisure or work and play. I will say that organization and time blocking is major for me.

I travel frequently for business and I have a schedule that I stick to. I’ll also share, full disclosure that I work a full-time (remote) job in addition to managing my lifestyle blog, being a social media influencer, running an online boutique, promoting my e-book and consulting business with brands and business owners. A lesson that I am currently learning is that, I CAN’T do it ALL! I’ve outgrown being a one woman show. I’m in the process of outsourcing specific tasks that I want taken off my plate and I’m happy to pay for the services.

The pros of being an entrepreneur is that you can fulfill the vision you have set for your business. Time is so precious, and you have total control over it. Take advantage of the flexibility you have and use it wisely. You’ll always have an opportunity to learn. I try to attend networking events and conferences regularly. It’s all a part of continuing education in our ever-changing world of social media and technology. You always want to stay on top of what’s new and what’s trending.

What goes up, must come down! There are pros and cons to self-employment. So, even though you may exceed a previous salary… There are good income months and bad income months. I’ve personally been in a panic when I had a slow month. This is when I didn’t have a job and was solely relying on my business income to survive. That situation pushed me to get two part-time jobs because I panicked and didn’t like the uncertainty of income from month to month.

Even though I had consistent work… I also had to deal with 30, 45, 60, and 75-day payouts. Those sent me in a tizzy to know that I provided a service but, wouldn’t see that money for a month or two. I worked part-time for almost a year and was offered a full-time position that still allows me to pursue my passion. I have a set schedule, so it makes it easier for me to plan my tasks accordingly. I really love consulting and sharing my knowledge with others.

Are you an entrepreneur why or why not?

Entrepreneurship: Taking Time for You + Hacks

Being an entrepreneur can take its toll on you. You’ll have good days and bad days but, the most important thing to remember is why you started. Remembering your “WHY?” will always put things back into perspective. It’s easy to get burned out and you don’t want that! If you can outsource some work that you don’t necessarily need to do yourself, do it! If you have specific tasks that aren’t a strong point for you and you know someone who specializes in it, delegate that task.

As entrepreneurs we also need to take strategic breaks! I’m notorious for taking mental health days when I know I need them. It’s okay to unplug and renew your mind so that you can be productive. If you have too much going on, it can keep you from completing projects and that can be a setback. I’m usually online most of the day several days a week and it’s essential that I step away when I feel the need to. I do better work when my mind is clear and I’ve taken a much-needed break.

Technology is at our fingertips with so many apps and software programs to help us with our productivity. Take advantage of apps that will keep you on track and make the entrepreneurial life easier for you. I use a planner to schedule out my days and deadlines. I use a traditional planner that I write in as well as digital calendar with alarms and scheduled reminders. Alerts keep me on my toes and I rarely miss an event or deadline. You can also use a timer or stop watch feature when time blocking.

It’s good practice to set amounts of time aside to complete tasks on your to-do list. If you are anything like me and get side tracked easily, this will help. Try it! It’s great to work from a list and see that you’re marking things off as you complete them until you get to the end of it and everything is done. I work with social media consistently and use tools to help me schedule content. I love scheduling tools because I can just schedule content and not think about it again.

Adrian Rubin has a variety of articles that can help with your business productivity. You’ll find topics on the latest tech to incorporate and share with your customers. There are also articles that will share trending apps that can help with your day-to-day tasks. Sometimes software and apps can be a great solution when you don’t have the manpower to physically complete a task. Overall, entrepreneurship is no walk in the park. It takes hard work and dedication.

I don’t think I’ve heard any entrepreneur say that they had overnight success. You have a passion that drives you to do what you love and be consistent. Being an entrepreneur can be very emotional and that’s why it’s so important to pace yourself so you don’t get burned out. Like I stated earlier, it’s okay to unplug and take time for you. That will just make you a better entrepreneur. Also, if you have the flexibility to work from anywhere… choose your favorite places and spaces. I do!

What entrepreneur hacks would you add to this list?

7 Valuable Lessons from My First Year in Business

Last year I took steps to re-brand, incorporate my blog and open a business bank account to separate my personal and business income. It’s so quick how an entire year goes by. Here are some obstacles and lessons I’ve learned along the way. It’s funny how tax time will bring things to light and have you more organized than you’ve ever been. At least that’s been my personal experience.

  • Shame on me… During my first year of business I didn’t use bookkeeping software to keep track of my income or expenses. I just relied on my bank statements and PayPal transaction history. I didn’t realize how well I did until I had to file my business taxes and account for all the income and expenses. Lesson: Use bookkeeping software, save your receipts and stay organized.
  • When you see everything on paper in detail right in front of you it puts everything into perspective. It wasn’t until I pulled reports on PayPal to see my income and expenses and did the same with my bank statements that I was able to itemize my expenses and see where I was spending money. Also a huge eye opener on how much I spent this year. I would have never imagined!
  • A Business Consulting Firm with a tax accountant handled filing my 2016 business and personal income tax. There was anxiety created when I got my accounting invoice. I was not prepared for it. My fees were as follows: I had to pay the filing fee, preparation fee, corporate tax and annual fee. I knew about the expenses but, didn’t anticipate the total amount invoiced to me. I know better for next year.
  • FYI: Businesses have until the 31st of January to send out 1099’s to any person that the business issued more than $600 in income payments within a year. You have to have your business taxes filed by the 15th of March and personal taxes need to be filed by the 15th of April. This is mandatory every year, so it shouldn’t come as a surprise. Annual filing… Be on time!
  • Moving forward I will use better accounting practices starting with using a bookkeeping system. I also know nothing about tax preparation so delegating that task to a professional was probably the best decision I made. This is the first time I have ever really delegated anything business related and honestly I need to do it with some other tasks I have on my plate. I can’t do it all!
  • Every state has different business related registration fees and tax filing laws and obligations. Keep in mind that these fees are annual. Some states don’t collect income taxes, and others have no sales or use tax. There are also federal business taxes in addition to your local state taxes. Do your research and find out these things in advance so you are not surprised by it.
  • Your 1st year in business will have obstacles and there may be some moments of trial and error but, if you are passionate about it stay the course. In the end you will reap the benefits of your hard work. I definitely wasn’t as organized as I needed to be last year and that has taught me to do better this year. I can’t wait to see what 2017 has in store for me. It’s off to a great start!

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    What valuable lessons have you learned being in business?

    The Man Behind Type Media

    I met Johnny J. Jones at a Greater Durham Black Chamber of Commerce networking event a little over a year ago and we’ve been supporting each other ever since. I had the opportunity to catch up with Johnny and sit down at the Beyu Caffe located in downtown Durham, to talk about what he’s been up to and his company TYPE Media. I asked Johnny how TYPE Media came about and this is what he had to say… I worked at a local Chapel Hill, NC radio station for six years before a series of events would lead me to start my own business becoming a full time entrepreneur.

    TYPE (The Young Professional Experience) was founded in 2003 by CJ Broderick Jr., it’s a social network offering young professionals consulting, design, event planning, and marketing services. I got involved with TYPE in 2009 and to this day I’m still involved with the organization as Media Director. I branched off of TYPE and TYPE Media was born in 2010. TYPE Media is a separate company all together from TYPE however, as Media Director I have an ongoing relationship with TYPE capturing events and working on different projects. I had given the corporate world my all and made the decision to make entrepreneurship a priority, which is very rewarding because I’m doing what I love to do.

    Johnny: I work with small businesses,  independent artists, and individual clients giving them quality service that won’t break the bank offering photography and videography services. I specialize in capturing the emotion of the moment at any event. I offer clients services like on location photography giving me an opportunity to travel. My portfolio showcases my work showing I’ve shot photo and video for business branding, live concert performances, night life events, social events and music videos. One of the music video’s “International Laww” that I produced for local North Carolina hip hop artist The Real Laww was nominated and WON for video of the year at the Carolina Music Awards.

    Jen: I also had the opportunity to work with Johnny on my FUN music video parody that’s currently making its way throughout the blogosphere… Sponsor- The UNofficial Bloggers Anthem. It was pleasure working with Johnny, and when you have a vision he is able to bring it to life. If you are uncertain of what you want Johnny is able to share his ideas and help you achieve your creative goal. I truly admire Johnny, he’s always on the go and produces great work!

    In addition to Type Media, Johnny also runs The J Group with his sister. The J Group is an event company based in Alabama. Johnny is a New Orleans native but has resided in Durham, NC for the last nine years. To keep up with Mr. Johnny J. Jones visit TYPE Media and to follow his many adventures, stalk him on Twitter @Johnny_J_Jones If you are in the Triangle area you’ll definitely see Johnny out and about capturing many moments all over town. I thoroughly enjoy having conversations with Johnny about entrepreneurship and his journey. He knows exactly what to say to a budding entrepreneur and give you the boost of confidence you may need when you begin to doubt yourself and fear tries to set in. When all is said and done Johnny is an awesome business man and makes a pretty great friend too. I’m so proud of all of his accomplishments!

    If You Have A Business, You Need A Website

    I had the task of going online yesterday and looking for business websites and their social networks for a project I was doing at work. As a Marketing Coordinator, I want to connect with other businesses and network. I got so annoyed on Google searching for business websites just to find Yelp reviews, listings on urbanspoon and city search etc. However some of these businesses had Facebook pages. Facebook is NOT a website [Read more…]

    error: Ask And You Shall Receive!!