002: Financial Foundations You Need For Your Creative Business

Welcome back to Profit Priority. Today’s episode is all about creating a financial foundation for your creative business. You may think it’s impossible to pursue your own dreams while making a living, but the reality is that it’s actually possible! During the podcast, I talk about the financial foundations for starting your business, the importance of separate bank accounts, the power and protection of an LLC, and the protection you get when you have a budget. 

In this episode, we cover:

• What is an LLC?  [2:15]
• Who I recommend for banking and business credit cards [4:05]
• The types of bank account you need [4: 46]
• Protect yourself with a budget [8:00]
• Prioritize time for bookkeeping [10:17]
• Keep track of receipts [11:51]
• Have a system to pay yourself [13:35]

Connect with LoriAnn on Instagram
Follow Profit Priority on Instagram
Visit our website

Grab our FREE Business Expenses and Deductions guide!

Do you wonder why your bank account balance doesn't match your Profit & Loss? Maybe you had a great month and you're wondering where all your money is going. This is due to cash flow. Your cash flow is the heart beat of your business and for a business to be healthy, you need to have a healthy cash flow.

I have created a FREE Cash Flow Projection Template so you can maximize your cash!