Company Creation And Taxes

taxation

I watched an Olivier Roland’s video  and I learned good stuff.

It’s true that a frequent question, how to optimize taxation when we start a company.

Solid foundation

mountain

It’s extremely simple. Here are the 3 most important steps to do when we create a company :

  • First step => sell

  • Second step => sell

  • Third step => sell

The only thing that is important is to find customers who are willing to pay for your products/services. Everything else is superfluous.

Spend all your days looking for ways to pay as little tax as possible or have a Zen office to stimulate your creativity or create your website with the best design in the world, all this is superfluous. This is intelligent procrastination.

To grow your company, you need to find customers in the most efficient way possible.

Be profitable

profitable profit growth

The truth is that you’re going to ask yourself how you can optimize your taxes when you ask yourself: « Wow, I’m paying too much taxes now, I need to improve that ! ». When you ask yourself this, you’ll have ways to pay a specialist’s service. And it will also mean that your company is profitable, which is excellent.

It’s normal for an entrepreneur to minimize costs as much as possible to make the company profitable. But taxes shouldn’t be an obsession because it can make you forget the company’s mission. Your company isn’t profitable because you pay the minimum taxes. Your company is profitable because of the added value of your products/services.

So when you start your company, the 3 most important things are to sell, sell, and sell to have a profitable company.

Share this article if you think it can help someone you know. Thank you.

-Steph

Dispersing In Several Projects

project

I watched an Olivier Roland’s video  and I learned good stuff.


I know several people who explain their projects and 6 months later, they explain a new project and so on. I think you know people like that too.

It’s a problem that happens very often and to understand that, you have to see the 3 steps of a project.

Fist step – start

This the excitation step. You discover project’s elements and everything is wonderful

Second step – crossing the desert

This is the step where you understand that you must give a lot of effort for little result. What is frustrating in this step is seeing people who have many years of experience doing incredible things easily while your work like crazy to do a basic thing.

Third step – experience

This is the step where, thanks to the experience you accumlated in the crossing of the desert, you begin to master the elements fo your project to make better progress.

What happens is that there are a lot of people who addicted to the first step : start. This is understandable because it’s in the step where everything is wonderful. When it’s necessary to go to the second step : the crossing of the desert, these people find a new project to redo the frist step.

Changing project for all the time to stay in the first step is a type of intelligent procrastination. These people avoid every second step, they want to have excitement without having the disadvantages of being persistent in something.

In this case, intelligent procrastination is about giving you a good conscience by telling yourself and others that you’re doing something positive for your project. But inside, concretely, you avoid doing the most important things to do to advance your projet. For exemple, you worked for months designing your Amazon website (this looks like a good idea) but since the creation of your website , you have done only 2 sales (it’s really a problem).

Solution

solution

Projects are means to reach your final goal. The first thing you need to do is to determine your final goal and then select projects to do to achieve this goal. For exemple your final goal is to become a successful author and your project is to have a blog where you’ll write chapters of your book.

Becoming conscious of your final goal is important but it’s not enough. You need to take action to complete your project because therse projects are just means to reach your final goal.

There is another phase, it’s that after a certain time, you need to select a minimum number of projects. Successful entrepreneurs are entrepreneurs who know how to say « NO » and it’s really important. You can’t succeed in all project in your life.

Select project

select project

How to select a promising project ? This is what you’ll want to know during the first step : start. This is the start step that will let you know if you’re ready to go to the second step : crossing the desert. It’s obvious that there is always a risk in the choice of a project. That’s something we can’t avoid at 100 %

One way to have more perseverance is to have organization, increase the strength of will and increase discipline. These are elements to work on a daily basis.

Share this articles if you think it can help someone you know. Thank you.

-Steph

Dramatic Mistakes

dramatic mistake

I watched an Olivier Roland’s video  and there is good stuff.

Usually beginner entrepreneurs make 3 dramatic mistakes.

Don’t be focused on sales

sales

When we run a company, the most important thing to do is make sales. Find first customers as soon as possible to have enough sales to achieve breakeven. Breakeven is the moment where we earn enough money to pay salaries, rent, internet bills, etc. One this step is done, work hard to have profit every months. This is the first priority when we create a company, achieve breakeven as soon as possible.

A lot of entrepreneurs are focused on others things less important like choose furniture, think about website’s design, think about visit card’s design. These things are useful but they are not a priority, they are really useful when you don’t have customers, right ? At the beginning, it’s 80 % of your time to find and convince customers.

If you are too shy to speak to someone, you can use social media. Now, a lot of introverted have millions of customers with social media, it’s cool.

Not outsource accounting

accounting

Beginner entrepreneurs spend too much time to accounting thinking save money. It’s a dramatic mistake because this distraction prevent them to make sales. Accounting is complex and complicated and if you make a mistake, this can have a huge bad result with accounting, tax and legal. It’s better to have a good accountant and it’s not expensive. When we begin a company, we can negotiate. Outsource accounting is in the budget.

Not make recurring offers

recurring offer

There is a difference between smart entrepreneurs and others. Smart entrepreneurs don’t try to sell one time to a customer, they make recurring offers to develop customer’s loyalty. It’s possible to do this with physical products with a subscription or a maintenance contract for 6 months or 1 year.

Do you know others dramatic mistakes make by beginner entrepreneurs ?

-Steph

Sacrifices To Be An Entrepreneur

sacrifice

I watched an Olivier Roland’s video  and there is good stuff.

Olivier Roland spoke with a girl who had left her job for 18 months to create her company. This girls had left her job with a negociation to have a social assistance for 2 years. The problem is that her company doesn’t work well, she doesn’t earn enougn money and her soacial assistance will finish in 4 months. They talked together to analyse the problem.

It’s not Disney’s World

disney world

This girls didn’t work effectively and quickely for several reasons. She was lazy because she thought was going to succeed. It’s a good mindset but nobody succeed at the first shot. She thought she was in Disney’s World. Create a company is just the first step. It’s like having a stick for a hike. You have this stick to start to climb the mountain but it will be another stick at the top of the mountain. And the mountain is very hard to climb. When you have a company, it is not Disney’s World, but it’s instead « it’s the war and I want to survive ! »

This girls spend to much time to have a perfect design for her blog, a perfect design for her newsletter. It was not the most important thing to do. The most important thing to do is to grow your audience. If your content is good, your design’s blog doesn’t matter. Don’t do intelligent procrastination like her.

Entrepreneur

When you’re an entrepreneur, you’re not an employee. You face reality in a way that doesn’t forgive. That means that as your company doesn’t make money, it’s just an untested hypothesis.

Have faith and be optimistic is great but you need to test your product in the market as soon as possible. And you need to have this mindset « it’s war and I want to survive ! » like a warrior, like a samourai. Be an entrepreneur doesn’t means you will be the next Facebook, Amazon or Google because you’re an entrepreneur. Results will not come naturally because you’re an entrepreneur. You must give everything you have everydays like an ahlete.

Fight for

fight

You must be ready to sacrifice your time (miss parties, birthday party, marriage, etc) and your energy to have all the chance on your side. You must do have huge motivation, by this way when you see an obstacle, you’re excited. And if you’re not excited, this obstacle will not stop you. Everydays act, act, act, act, track your act and adjust.

Have a strategy with key actions to have first sales as soon as possible. If your product don’t work, it’s not a problem. Refund customers, use audience feedback about your product and change characteristics. Try, try, try, try and must be ready to word 10 hours per day for your company.

Spend your time to act and learn. Track your actions and adjust to improve results. Devote all your time to grow your company.

Do you propose a prototype of your product/service to your audience ?

-Steph