Get More Clients Challenge
Get More Clients Challenge
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FOUNDATION
If you're just starting your business you'll want to make sure you have the foundational pieces of your business set up before you start bringing in clients!
Covering all of your financial and legal bases prevents your new business from putting your personal assets at risk.
Make your business official / legal
• Name your business
Keep it simple! Don't try to be clever. You can get creative with program names but keep the name of your legal operation very simple.
• Follow the legal requirements of operating a business where you live
Check with your local governement requirements for the licensing requirements your business where you live.
Keep it simple! Don't try to be clever. You can get creative with program names but keep the name of your legal operation very simple.
• Follow the legal requirements of operating a business where you live
Check with your local governement requirements for the licensing requirements your business where you live.
• Do you need an LLC?
I'm not a lawyer or accountant, so please note this is not legal or financial advice. An LLC isn't a legal requirement to start working with clients but it protects your personal assets from liability if your business gets sued, so it's worth checking with your attorney and accountant to find out if this is the right choice for you.
I'm not a lawyer or accountant, so please note this is not legal or financial advice. An LLC isn't a legal requirement to start working with clients but it protects your personal assets from liability if your business gets sued, so it's worth checking with your attorney and accountant to find out if this is the right choice for you.
• Get insurance!
Your certification organization may have recommendations about companies to use. Some popular ones you may want to consider: CMF Group and Alternative Balance.
Your certification organization may have recommendations about companies to use. Some popular ones you may want to consider: CMF Group and Alternative Balance.
• Create your client forms
Be sure to adhere to any requirements that your insurance policy provides about what your clients must sign and submit to you before you begin working together.
• Understand your scope of practice
No insurance policy will cover you if you are providing services that exceed what you're legally able to provide within the bounds of your certification or designation. This may vary based on where you live so be sure to check on whether your geographic location impacts your scope of practice.
Health coaches and personal trainers are not licensed medical practitioners, so unless you hold a separate license or certification that permits it, be sure to AVOID the following:
• providing any specific diagnoses
• recommending medications, supplements, or treatments for illnesses
• providing individual nutritional advice or workout plans (unless you hold a separate certification or license for this activity)
• providing psychotherapy
• Financial Tracking Tools
You'll want to keep your personal finances separate from your business finances to minimize the risk to your personal assets and to make it easier to keep track of your business accounting.
You'll want to keep your personal finances separate from your business finances to minimize the risk to your personal assets and to make it easier to keep track of your business accounting.
• Set up a business bank account and credit cards for expenses.
I use and recommend Novo for business banking.
**Use my affiliate link below to sign and you'll receive a $40 bonus for creating your account
**Use my affiliate link below to sign and you'll receive a $40 bonus for creating your account
• Set up a payment processor account
Payment processor accounts allow you accept payments by credit card and/or cash transfer.
Options include:
• Set up a Finance Tracking Sheet
You can use a simple spreadsheet to track money received and paid out.
Use the link in the resources tab to access the Google Sheet sample and set up your own tracking sheet to document payments and business-related expenses
Use the link in the resources tab to access the Google Sheet sample and set up your own tracking sheet to document payments and business-related expenses
• Business finance recommended reading : Profit First by Mike Michalowicz
What's NOT Needed to Get Started:
• Hiring a web designer to create a website or spending time on a DIY site builder like WIX
• Hiring a graphic designer for an expensive logo or branding package
• Business cards and brochures
• Complicated bookkeeping software
👉 Your Action Items!
Check the box below after completing the action items.
I have watched the Foundation Video
I have researched what legal requirements my city/state/county has for operating a for-profit business
I have created a clear, easy-to-understand name for my business
I have created client agreement forms that my client can electronically complete and e-sign
I have set up a business insurance policy to protect my business from liability
I have set up a business bank account
I have set up payment processor account to take client payments
I have set up a business finance tracking system to track the income I earn and business expenses I've paid
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