Hi everyone! I’ve just filed my first LLC & am planning to open a vintage boutique in my city- I’m completely new to owning a legitimate business of my own. I thought this would be a great question to ask as I know I’ll be making many mistakes in my first year of business.
Please feel free to comment your favorite mistake!
Hire a Fractional CFO. This is someone more knowledgeable than an accountant and will be your strategy person for how best to run your business financially, plan for taxes with your CPA, find you a book keeper and make sure things are done right, keep you in compliance with all types of laws/regulations/insurance/etc…
Every penny spent on this person is money saved or money not wasted from mistakes.