1. Register your business with the state: This legitimizes your business, gives you the ability to apply for grants and loans, and allows you to receive an employer identification number (which means you can establish business bank accounts).
2. Create business bank accounts: This allows you to keep track of budgeting and helps protect your personal finances if someone files a lawsuit against your company.
3. Use strong contracts: This allows you to establish an agreement between you and your customer and have protection if a problem ever arises.
4. Last but not least…complete an estate plan! An estate plan will make provisions for your business after your passing, which keeps you in control and makes sure that your business is taken care of.
