Has your side hustle developed into a small business? Have you taken on more projects, made more money, or even brought in more help? Congratulation! You are a business owner. It is time to take things to the next level and evolve from the side hustle mindset. The side hustle mindset can delay you from leveling up; it puts your business at risk of not being a priority and not being taken seriously.
You would be surprised by the number of businesses that don’t have the framework to function at the most basic level, let alone scale up. Why risk your hard work on fines, audits, and Department of Labor complaints? You’ve worked too hard. Invest in the foundation that you need to build your empire. Register your business as a legal entity. Establish a relationship with a financial institution by way of a business account. Create a paper trail for the individuals that you employ. Run a sufficient payroll process. Document your basic steps and processes to ensure consistent and scalable service delivery.
These basic steps will position your business toward sustainability. The Empire State Building has a solid foundation and the infrastructure it needs to carry the weight. If you want to build your empire and scale your business build your foundation now!
Contact CMatt Consulting for your HR Services.
Chanda Adams Matthews, MAOL, SHRM-SCP
CEO, Principal Consultant