Starting a business has some inherent risks that I
think most entrepreneurs are aware of.
You risk investing your own money in a business that
doesn’t end up making a profit.
With online businesses, the initial investment to get
them off the ground is so low, that the financial loss of a failed
business isn’t that ground shaking. Especially when you compare it
to the capital needed to open restaurants, retail stores, and other
more classic brick-and-mortar businesses. These businesses usually
involve investing your life savings while also taking out thousands
of dollars in loans.
Ultimately, if your online business doesn’t work out,
you lose some of your savings and then go back to working for
someone else. It’s a crummy situation, but it’s rarely a
What most online entrepreneurs don’t realize is that
the real risk comes when you start to make
It seems counterintuitive, right? But the more
financially successful your online business becomes, the more it
can turn into a nightmare if you aren’t
That’s why in this episode, we discuss:
Why the more successful your business becomes, the more
risk you take on
Why not understanding your taxes as a business owner
can turn your business into a nightmare
Why every entrepreneur should be working with an
How our bookkeeping service helps our clients stay out
of trouble with the IRS
Why understanding your finances becomes more crucial as
you make more money
About the Podcast
Bookkeeping and business education company dedicated to helping online entrepreneurs create profitable and healthy businesses.