Gather All The Pieces

Who would display a puzzle that was missing some of the pieces? Even though you may be able to get the gist of the image, the defect would be glaring. Not to mention, tacky and incomplete.

So before you embark on your grandiose vision, be sure to collect the necessary components to build a phenomenal foundation. smile Let’s examine some of the critical elements needed to assemble your business:

  • 360 Business Plan – A great business coach will pull your vision out and help you develop a focus. They will gracefully weave your value system into your business model. Celurius has a process that is exhaustive and serves to transform concepts into executable steps. Entrepreneurs benefit from feeding their ideas thru the gauntlet of market data and SWOT analysis. SWOT is an acronym for strengths, weaknesses, opportunities, and threats.

  • Legal Entity – Consider the obligations and benefits of various jurisdictions when selecting your business structure. Consult an attorney or CPA regarding legal and tax implications. Companies such as incfile make it easy to review and complete LLC filing and registration. Managing ongoing compliance is made simple with incfile’s platform. Be sure to obtain an Employer Identification Number (EIN).

  • Virtual Office – There are two parts to creating a virtual office. First is the business address. Second is a toll free virtual phone number. Sasquatch Mail provides personal and business addresses. If you select business address and add the virtual phone option then you have created a virtual office. Their mail forwarding services are fantastic for entrepreneurs establishing a headquarters in Wyoming, Delaware, or Florida.


As you get the basic setup composed it’s important to research and see if there are any specific requisites pertaining to your type of business. For example, a food truck may require a special city permit, a trucking business requires commercial DOT authority and a bond, while a law firm relies on partners who have passed the Bar exam.

Be diligent. Cross all your t’s and dot those i’s when it comes to legitimizing your operation. Below are a few things to check:

  1. Business License and Permits – Most organizations will need a combination of state, local, and federal authorizations depending on the business type.
  2. Surety Bonds – Typically pertains to a three-way contract involving some government application. The bond covers some of the obligee’s exposure.
  3. Business Insurance – Provides limited protections based on the policy purchased. Find reputable agents and compare coverage.
  4. Business Registrations – These could be mandatory or recommended within your industry.

Do not cut corners when it comes to compliance. Figure out the costs and then set a budget with a timetable. Stay organized. Use a notepad on your laptop, phone, or computer. The Small Business Administration (SBA) has a guide that you may find useful.

Clean Up Your Personal Affairs

You are the most important aspect of launching your business. Your financial, emotional, mental, and spiritual health will greatly affect company health. Make sure you maintain healthy relationships and solid boundaries. Don’t allow people to siphon your energy away.

Periodically meditate and gain clarity. Be consistent and maintain resolve in a state of peace. Grow in self-awareness. Be honest with yourself about your needs and areas where you need help. Remember that your strength is also a source of weakness. Appreciate the things that are good. Channel your dissatisfaction into fuel for wealth building. Be diligent about eliminating toxic foods and substances from your temple (your body). Take care of you. Take care of the home front and clean up bad habits.



It’s not actually very difficult to create a budget. Half of the battle is paying attention to your income and your expenses. The other half is what some people struggle with – being disciplined and intentional.

Here’s how to create a budget:

  • Add up your sources of income for the month.

  • Categorize all your expenses (ex: restaurants, fuel, rent, entertainment).

  • Get the 1 month total for each category and divide it by the net income for the month. This will give you the percentage of your income spent on that category for the month. (ex: Income = $4000 Expense: Fuel = $250;  250/4000 = .0625 ; multiply the decimal by 100 to get the percentage of fuel costs out of the monthly budget 6.25%). Do this for each category.

  • Look for areas where you may be overspending such as clothes, food, or cable. Set a maximum amount that you will spend eating out. Don’t buy clothes impulsively. Save up for a shopping trip and find sales. Cut the cable and get Netflix. Chop those expenses down. Try to get total bills down to 50% of your income.

  • Funnel 20% of your income into savings for emergency funds and future investments. Put 10% to the side for enjoyment. Set the last 20% to the side to fund your business startup.

Good money management is crucial if you are serious about creating generational wealth!


Debt can pile up for a host of reasons. It could be a tragic event such as an accident resulting in a hospitalization. College is a necessity for some professions yet the tuition may be astronomical. Financial mismanagement is a factor for those who have not yet figured out how to curb spending habits. Regardless of the reason, collections and missed payments listed on your credit report damage your economic position in several ways:

  1. The cost of credit products increases via fees and interest rates.
  2. Insurance rates are higher and utilities require deposits.
  3. Vendors tend to require down payments or co-signers.
  4. You are locked out of financing large purchases such as a home.

These are just some examples of the poor-credit tax that severely limits financial options during significant life events. On top of making life more expensive, this tax can block you from acting on certain investment or business opportunities. Celurius encourages all entrepreneurs to fix & optimize their personal credit so that we can roll those habits into relevant business credit strategies. Click here for a reputable credit repair service.

Personal credit is marketed to fuel consumer spending. You get out of college, start a job, go finance a car, and get credit cards to buy clothes and things you enjoy. The problem is that most of the things you purchase as a consumer don’t increase your income. It typically increases your bills and tacks on a hefty interest rate. Even though this is common, you do not have to encumber your money this way.


Flip The Script

Develop a plan and map out a formula to get access to business credit, but instead of using it to subsidize spending – leverage the capital to purchase assets. Use it to file your business entity and complete registrations. Purchase insurance and then go make money!

Buy income generators such as dividend paying stock, real estate that pays rental income, or land to lease to hemp growers. Shake the brainwashing and mediocrity of check-to-check thinking. Let’s spend a few months crafting a plan that just might change your life for the better. Send us a message and let’s set up a free consultation! Also, swing by our resource page for a list of helpful vendors. Live well smile