EP 122: What Do I Need To Do To Start My Online Business?

What do you need to have in place before you even consider starting your online coaching business? While there are a few foundational pieces that can be helpful, Nicole wants to emphasize that nothing should delay you from taking the first step. As long as you have a clear understanding of your target audience and the areas in which you can assist them, you already have the essential elements covered. However, in this episode, Nicole will provide valuable insights on several factors you may want to consider as you embark on building your coaching business.

You will learn the advantages of establishing a business entity, such as an LLC, and the perks of having a dedicated business bank account. Additionally, Nicole stresses the significance of obtaining a tax ID number and working with an accountant, as cutting corners on taxes can be detrimental to your business. She challenges the notion that certificates hold ultimate importance, asserting that practical experience outweighs credentials unless mandated by your location. Listen to the end where Nicole emphasizes the importance of building an email list and utilizing a professional business email, complete with an unsubscribe option, for effective communication with potential clients.

What You’ll Learn In Today’s Episode:

  • Why you shouldn’t let anything delay you getting started on your business. (1:00)
  • How to go about getting a business entity and why it is important. (2:40)
  • The benefit of having a tax ID number and a separate bank account for your business. (3:30)
  • Why you need to have an accountant. (5:00)
  • If you need to have a certificate to get your business running. (7:00)
  • Why you must have an email list and know how to use Zoom. (9:00)

Ideas Worth Sharing:

  • “You and your business are not one and the same, you are separate entities and you should have separate bank accounts.” – Nicole Spencer
  • “You need to have an accountant that is not a negotiable thing.” – Nicole Spencer
  • “You have to have an email list. That is a huge part of building your business.” – Nicole Spencer

Resources In Today’s Episode:

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