Latest / The Life-First Solopreneur / 254. Stop Avoiding Your Numbers (They’re Costing You More Than You Think)

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254. Stop Avoiding Your Numbers (They’re Costing You More Than You Think) · The Life-First Solopreneur

• 0:00
  Carly Ries: Ever wonder if you're actually charging enough or if you're accidentally running your business like a very stressed employee instead of a CEO? Well, in this episode, bookkeeping expert, Megan Schwan, joins us to break down the financial side of solopreneurship in a way that finally feels clear, doable, and dare we say empowering? From her wildest early business moment to the systems, tax strategies, and mindset shifts that help solopreneurs become recession proof, Megan shares the exact money moves that keep your business healthy and your confidence high. So if numbers make you cringe, this is the episode that will change everything. So be sure to tune in and get your financial power back.
• 0:37
  You're listening to The Aspiring Solopreneur, the podcast for anyone on the solo business journey, whether you're just toying with the idea, taking your first bold step, or have been running your own show for years and want to keep growing, refining, and thriving. I'm Carly Ries and along with my cohost, Joe Rando, we're your guides through the crazy but awesome world company of one. As part of LifeStarr, a digital hub dedicated to all things solopreneurship, we help people design businesses that align with their life's ambitions so they can work to live, not live to work. If you're looking for a get rich quick scheme, this is not the place for you. But if you want real world insights from industry experts, lessons from the successes and stumbles of fellow solopreneurs, and practical strategies for building and sustaining a business you love, you're in the right spot.
• 1:25
  Because flying solo in business doesn't mean you're alone. No matter where you are in your journey, we've got your back. Megan, we are so excited to have you here today. And Joe, we talk about this quite a bit when we have, like, finance experts on here Because everybody has a different approach, which is, for somebody that's not in that realm, I'm like, how how does everybody have a different approach? But they're also fascinating.
• 1:51
  And so I'm so excited to hear your take on all the questions we have today. But before we dive in, we now have our icebreaker question, and you chose our favorite of the two, which we're so happy about. And that is, what is the wildest thing that's happened to you as a solopreneur?
• 2:06
  Megan Schwan: Okay. I guess I don't know exactly what wildness would entail, but for me, this was a pretty transformative or pivotal moment in my journey. And it was really when I first started my business. I had one of my first clients, I had no idea what to charge at that time, like I was totally winging it and undercharging him. And let me tell you, when you talk about going above and beyond, or scope creep, or whatever, I did that for this client.
• 2:38
  And I think what was wild to me was that despite all of that, he ended up, at the end of our engagement, he still owed me money, I never got paid for that. He kind of treated me like I was beneath him almost as well. And it was just
• 2:55
  like, coming into being a business owner, at the time too, I didn't have super great self esteem I would say, I was really young, I was in my early twenties when I started my business. And so, for me, it was wild because it was just a different perspective into how people are. But then also, how I needed to show up differently as a business owner. So it actually helped boost my confidence a little bit. I realized that I needed to do more research, find out what people do pay for these kind of services, and just really step into being more of an expertise.
• 3:31
  It didn't happen overnight, but it started me on that journey, so I'm thankful for it, because I think if it would've just been like all sunshine and rainbows, first starting out, I wouldn't have learned that very important lesson in the journey, and I've been a business owner now for over eleven years, So I think it was foundational in my story and in my journey to a business ownership. For me that was wild.
• 3:59
  Carly Ries: I think what you said is just so relatable to so many solopreneurs. The amount of times that Joe and I talk about like, just raise your prices. Because people, they'll say they're working around the clock and it's like, well, have you asked for a little boost? I mean, if you set your prices perfectly at the beginning, get a hold of us, send us an email, and tell us what you did and how you figured that out because I think it's very rare for somebody to set it perfectly At the beginning. speaking at the beginning, you were saying that was so foundational for your business, let's start with the basics of this conversation. So for solopreneurs listening, whether they are just starting out or are kind of reassessing their business that they've had for a while, what would you say are the top bookkeeping systems that every solopreneur would need to stay organized to run their business successfully.
• 4:50
  Megan Schwan: Yeah. I know a lot of people gravitate toward spreadsheets, isn't necessarily bad, but I just feel like it's not as robust as what you need for having a business and really stepping into CEO. So the three tools that I would, or systems that I would recommend, is some kind of an accounting software, and there are free options out there, Wave apps is one that's a pretty decent accounting software, and it's free. So definitely something like that. QuickBooks Online has different tiers, there's also Zoho Books, Xero, you know, some kind of accounting software though will help you to get into the habit of treating your business like a business, and your numbers like a business, but also help keep things organized.
• 5:30
  Another thing that I would definitely recommend is some kind of mileage tracker, receipt tracker, kind of software or system, because those are gonna be two of the big things you need to have in place, whether you're a solopreneur, or you're a larger business, you need to have some kind of system in place for your documentation. And mileage tracking is a big deduction for a lot of businesses, especially solopreneurs, where you wanna make sure you're tracking that and in the habit of it so that you can deduct those kind of expenses. And then my third one would be Profit First, which is a cash flow management system, and it really does, we'll talk a little bit more about it later. But it's a cash flow management system that you put in place for your business and it really helps to prioritize the things in business that most people overlook or have pain points with, which are things like taxes, saving for taxes, paying yourself, and then strategically reinvesting into your business. So it really helps to put those things into perspective and prioritize it right from the get go.
• 6:31
  And that's really helpful to put systems like that in place in the beginning, or even like you said if you're reassessing, in the long run, those are really, really important for the success of your business.
• 6:41
  Joe Rando: Yeah. I'm excited to learn about that. I've been kind of a lunatic about cash flow in past businesses, so I'm really curious to see what you come up with.
• 6:51
  Carly Ries: Yeah. Well, and so just from a daily like, day to day standpoint, how can business owners use their financial statements to make smarter business decisions?
• 7:02
  Megan Schwan: So the thing I always like to tell people is that your decisions about your business go back to your numbers whether you know them or not. So knowing your numbers, leaning into your numbers, looking at your profit and loss especially, is gonna be really important to helping you figure out how your decisions affect your money, and making sure that you're on the right track. Looking at your profit margins, understanding what your net profit is, your real profit is, to make sure that what you're doing is actually making money, versus you having to, if you're operating at a loss, the only thing that's gonna help subsidize that or keep you going is if you go into debt. Like you're gonna have to borrow from something or somebody if your business isn't supporting itself. So having an understanding of your financial reports, leaning into those is gonna help you make better decisions as a business owner, you can make sure every expense a purpose or an explanation is what I always like to tell our clients that we work with. you need to know where your money is going and you need to be making sure that it's in alignment with where you're trying to go with your business.
• 8:14
  Carly Ries: I just think that's so important because I think a lot of solopreneurs are like, oh, I'm just not gonna look at it this month. I don't wanna see. And they go into denial. And then, not denial, but just like kinda out of sight, out of mind.
• 8:25
  Megan Schwan: Exactly. Yeah.
• 8:29
  Carly Ries: But it's so important to just keep it top of mind. So I'm glad that that's something you advise your clients all the time. But for solopreneurs, a lot of times they go into their businesses and they're not tax professionals. They're not bookkeeping professionals or anything. They're marketers, or they're life coaches, or whatever. And so finances can be really overwhelming. So what's that first step that you think they should take to gain control?
• 8:58
  Megan Schwan: Really I think it just comes down to doing your bookkeeping. I know when you wear lots of hats, especially as a solopreneur, you're wearing all the hats basically, right? You might have a couple contractors that you're working with, but for the most part, most of you are wearing all the hats. So it can be really easy, like you said, to kind of put it off, kind of not look at it, put it on the back burner. But if you wanna be an owner of your business, and not just an employee, which is possible even as a solopreneur, you gotta start by setting time aside on your calendar to tackle your bookkeeping, and review your reports.
• 9:33
  So just starting there, to get that system in place, making it a consistent practice. I know a lot of our clients have time weekly where they're working on their business, not just in it but on it, like bookkeeping falls into that category of working on your business, because it really is the foundation for helping you be a better business owner.
• 9:56
  Carly Ries: Okay. So once the systems are in place, and you saw me do a really like, hmmm, thing when you mentioned the t word taxes. I do not love it, they're the necessary evil, I get it, but I just, ugh, loathe them. So solopreneurs like me, once the systems are in place, what are some tax strategies that every solopreneur should use to help them save money?
• 10:22
  Megan Schwan: Yeah. Great question, and it can be a little bit complicated because some tax strategies are just kinda dependent on many different things, but the three most common things that most solopreneurs can do, or at least should look into, would be things like home office. Like I mentioned before, mileage is usually a big one for people. And mileage can include, even if you're working at home, if you're running to the store to buy supplies, or you're going to meet with a client, that's mileage you can deduct. So keep that in mind if you're running to the post office, any of those kind of trips that are related to business, you can deduct as business mileage.
• 11:06
  So that's a big one. Another one that often gets overlooked is the self employment health credit. So if you're on marketplace insurance, or you're paying insurance privately through yourself instead of through your spouse, you can deduct a credit for that amount. So that's something that gets overlooked a lot when it comes to businesses and especially solopreneurs. And then I think too, I know this is the fourth one, but this one is the most important in some ways, but it's really just having an understanding of what a business deduction actually is.
• 11:40
  And so a business deduction is anything that is ordinary and necessary to the operation or growth of your business. So just kind of thinking through it from that lens, it's very broad, but what you have to think about is what are those things that you can deduct? Can I share a couple of examples just to kind of help people? So one of my favorite examples to use, and this is a real case that went through the IRS, is that there was this realtor that wrote off a yacht. And so of course, when her taxes went through the IRS, they were like woah woah woah woah, you can't write off a yacht for your business.
• 12:18
  And she had to go to the court, before the IRS, and support her deduction. But her argument was that, she was a realtor to properties where the people that wanted to buy these properties didn't wanna see them from the front door, they wanted to see them from the water. And so she would take her clients on this yacht, and show them these properties from the water. And she was able to win that argument, because for her business, and her type of clientele, that was an ordinary and necessary expense. Another one I like to use is, you know, if you go to a conference, and there's a Ritz Carlton, but down the road there's a Hilton, you can't typically make an argument that you can stay at the Ritz Carlton and write that off, because there's a Hilton down, which is perfectly fine.
• 13:10
  Staying at a Ritz Carlton is above ordinary and necessary. So you gotta kinda just think about it from that lens, it's like, if I were to go before somebody and have to defend my deduction, am I gonna be able to make an explanation that supports this deduction? But if you can, and you can do that confidently, pretty much anything you can fit into that category, can write off. So just having that understanding can help people save a lot in taxes, by just having that understanding of what a business deduction actually is.
• 13:43
  Joe Rando: Can I probe on that a little bit? That's interesting. I'd not heard that one about the Ritz Carlton versus the the, lower cost. I mean but at some point, I need to rent a car because if the conference is at the Ritz Carlton, now if I'm, up the street far enough, I'm gonna need to rent a car Which may offset.
• 14:01
  So, how does that work, I mean, thinking in terms of obviously, this has all got to do with IRS deciding to audit you.
• 14:11
  And then deciding that this is a hill to die on, so to speak, in terms of the audit. can you just shed a little more light on that kind of thinking of, at what point do I have to consider the Motel six versus the Four Seasons?
• 14:29
  Megan Schwan: Well, like I said, it's ordinary and necessary. So if you're staying at a hotel, if the conference is at this fancier hotel, you can make the argument that staying at that hotel is ordinary necessary because it's in the same building. When it comes to renting cars, you can definitely rent a car, but you probably shouldn't pick the top tier car because you're probably gonna have a hard time making an argument that it was necessary, right?
• 14:56
  Joe Rando: But I needed that Ferrari to get there! So you know, there are some limitations to that, clothing often comes up as a question, like, oh, I have to buy this suit. Well, if you can wear that clothing, even if you are not a person who does dress like that, because that's often the argument is like, oh well, I wouldn't normally wear this suit, but I bought it for work. But if you can wear it outside of work, it's typically not something you can deduct. If you have a logoed shirt, yeah, you can write that off.
• 15:27
  Megan Schwan: You probably shouldn't get a Gucci outfit or something like that where it's gonna be super expensive and get it logoed, you might not be able to make that argument, you know, even if it's logoed, that it was necessary, but things like that, you have to just kind of think through that lens, but most other general expenses, professional fees are often something people miss too, because they don't realize that, different types of insurances.
• 15:54
  So just kind of having that thought process and really sitting down and being like, okay, what are all the expenses, does it fit into this lens of ordinary and necessary, and if it does, then usually, it's something that you can write off. Of course, always consult with your accountant, and tax preparer,
• 16:11
  Joe Rando: Have you ever been audited, Megan?
• 16:13
  Megan Schwan: I have not. No.
• 16:15
  Joe Rando: I have. It's so much fun.
• 16:18
  Megan Schwan: Yeah.
• 16:19
  Joe Rando: But I had tax professionals, so they kinda took the front line on it. It was less painful, but documentation, all that stuff is so important.
• 16:29
  Megan Schwan: it is. Yeah. And I always tell people, the more you have, the less they'll dig, generally speaking. Because if you have receipts and you can pull things, they'll be like, okay, this person is legit. But if you are struggling to get documentation, they're gonna probably have a little bit more scrutiny.
• 16:46
  So it's always good to have systems in place for everything. Especially receipt management and mileage tracking and that kind of thing.
• 16:54
  Carly Ries: Well, Joe, you need to start stop trying to expense your Gucci,
• 16:59
  Joe Rando: I guess, I got that logo on the Gucci suit, you know.
• 17:06
  Carly Ries: Hopefully, I'm not gonna push for that. Beyond systems and taxes, you said something interesting earlier about like, you can own your own company and still be an employee. But as a solopreneur you really do wanna take on that role of CEO. So what are some CEO mindset shifts that can really transform a solopreneur from employee to owner?
• 17:28
  Megan Schwan: Yeah. Great question, and I know this is something that I've definitely had to develop for myself as well. So if you're just starting that journey, don't feel bad. Mindset shifts can take a little bit of time to do. I think for me, some of the things that I've had to go through, and some of the things that we even often talk to our clients about, is things like creating a vision.
• 17:51
  So not just winging it, or just going into your business and saying, okay, I'm gonna see what happens, but really having a purpose, understanding why you're doing what you're doing, can be really helpful in just creating that direction for all of your decisions. And that helps a lot too, and kind of brings me to my next one, which is to set those boundaries for what is gonna be helpful for your business to drive it forward, things that drive it forward. Lining that up with your vision can be really helpful. And then also setting boundaries in terms of what you're gonna be providing and when that scope creep comes in. So just elevating your thought process of like, okay, my business is this entity, and it's outside of myself, so then your business becomes its own thing.
• 18:49
  So when you make decisions, is it for my business? Am I moving in the direction of my business? Does this goal expense align with what my business needs? Just kind of having that kind of establishment of your business is outside of yourself, and you're treating it that way can be really helpful. So having organization is really important, getting more legitimate is another thing, people will come to me and they'll be like, okay, I'm ready to be legitimate in my business, so do I need to be an LLC or how do I start addressing the tax thing, how do I get my bookkeeping in place? just those kind of shifts as an individual help you to move from more of an employee to more of a CEO, where your business is it's own entity and you're making decisions towards that, but you have a direction to go in, and then you're not afraid to start making decisions that help your business, and not just like, but it kinda happened. Which is what I think a lot of solopreneurs, we kind of just like, we're in a hustle mode instead of being strategic, right? So that can help with that.
• 20:03
  Joe Rando: Question, Megan. Do you use a statement of work with your clients? Do you have a statement of work, something that kind of outlines what you do and and maybe what you don't do?
• 20:13
  Megan Schwan: Yeah. We have different, contracts. I guess I don't call it necessarily a statement of work, but we have contracts and packages. So in each package, it has different things. But again, that was something I had to kinda learn too, even going back to that wild story, it was like I didn't have any differentiation between what I was providing versus what I wasn't.
• 20:33
  So getting really clear on this service provides this, and then if I need to go outside of that, having a plan for what needs to happen next. So, if a client needs something else, what is the bridge to the next package.
• 20:49
  Joe Rando: You've package for that, so to speak. Can upsell them.
• 20:53
  Megan Schwan: Yeah.
• 20:54
  Joe Rando: We all learned that the hard way. So Yep.
• 20:58
  Carly Ries: Yep. Well, so I feel like it's one thing to get the CEO mindset, but I think it's another thing to establish like a resilient mindset. Because as solopreneurs, growth isn't always smooth sailing. You have your ups and downs. So can you discuss a few strategies that solopreneurs can use to overcome business, but as well as personal setbacks to keep them moving forward?
• 21:23
  Megan Schwan: Yeah. Like you had mentioned, basically, I know a lot of business owners that have been in business for five or ten years, and the common thread behind all of them is having that grit and that resilience. I think another big thing is understanding your why. You know, like why are you doing what you are doing, what is the impact, what is the purpose, because then, and I know for me that's been true too, like there have been moments in the 11 I've been in business where it's like, should I keep doing this? It gets really hard, things don't work out, you get frustrated or disappointed, or things don't move this fast, and the thing that's helped keep me going is like, oh, you know, I'm making an impact, and people need this service in order for them to be successful, and they are able to then, if they are successful, then they are able to provide for their families and their communities, and their futures.
• 22:15
  And for me, it's really a big passion of mine, because my business has been so instrumental in helping me care for my family, and make some really hard decisions, and get through some really tough seasons, because I had the flexibility and the ability to get what I needed out of my business at each of those times. And so people can do that for themselves too. So it's important.
• 22:41
  Carly Ries: Let's dive a little bit deeper into that. And because I think economic uncertainty is such a concern. I mean, for most people, whether or not you're a solopreneur, but solopreneurs as well. How can solopreneurs start becoming more recession proof? What can they start doing to just be prepared if that happens?
• 23:03
  Megan Schwan: Yeah. Great question. So in my opinion there are a couple of things that they can do. One is partially gather a budget. And I know it's kind of one of those things, like people hate the word budget a lot of times because it feels restrictive, but really having a budget is actually having a plan for where your money's gonna go.
• 23:22
  And then, when you have a budget in place, you can review what's actually been happening compared to what your budget plan was. And that gives you the ability to start asking higher level questions of what happened, why didn't this work out, why didn't I hit this number, what did I do that made me hit this number or exceed that number. So you can start asking more of those questions if you have something established, and it's really, a budget is your goals in number format. That's what you want to put in place. So having a budget is gonna be one simple thing you can do.
• 23:57
  Another thing is putting money aside for taxes. This is a big, big, big issue that businesses of all sizes, they miss this part. They do not save strategically for their taxes. So if you haven't been doing that, what I would recommend is saving about anywhere between eight to 15% of your sales. So anytime sales comes in, put it in a different account, specifically for taxes, anytime you get sales that come in.
• 24:26
  And that will help you, that helps a lot. It helps you to have peace of mind. Because taxes are usually overwhelming, and the reason why it's overwhelming is because there's usually a tax bill, especially if your business is doing well, you know, you're making money, there's nothing wrong with that, we're gonna have to pay taxes, like you said, it's a necessary evil, but the key is not overpaying in taxes and not being unprepared for taxes. So being more prepared for it gives people a whole other sense of calm, I would say. And then stepping into just it more also helps with that as well.
• 25:03
  But those would be the two simple things that you can start doing today, or working towards today, that will help with becoming a little bit more recession proof.
• 25:13
  Joe Rando: Nothing ruins your day like getting an unexpected tax bill or One that should have been expected, but you didn't expect because you weren't paying attention.
• 25:20
  Megan Schwan: Yeah. Exactly.
• 25:21
  Carly Ries: Even when you're doing your quarterly payments, it's painful to be like, ugh. Bye bye.
• 25:27
  Joe Rando: But then you get it back sometimes, but you didn't get any interest on it.
• 25:33
  Carly Ries: It lessens the blow at the end of the year. Okay. So speaking of recession proof, you were talking way back in the beginning of the episode about profit first. That's Mike Michalowicz. Right? About the four principles. What are those principles of profit first that can help with recession proofing?
• 25:53
  Megan Schwan: Yeah. So profit first, as I mentioned, is a cash flow management system that basically forces profitability. And the way that it is set up is that we use different bank accounts to act as different buckets for these things in business that often get overlooked or they're not prioritized, which are the saving for taxes, paying yourself, strategically reinvesting, and just helping to stabilize your cash flow throughout the year. And, so we use these different buckets, and basically, it's income that comes in, and then you split, or you just disperse, by a percentage into each of these buckets, a certain dollar amount. And you can have more than just the core like accounts that that they are set up a lot of times people once they start utilizing the system they actually get more empowered and they were like.
• 26:47
  Oh well I can say for this or I can say for that We have a couple of clients that they have product based businesses, and every year, twice a year, there's big sales on the products that they buy. So one of the methods that you use with Profit First is instead of waiting until that month to spend all this money, you're saving a little bit each month towards that amount that you need to have and it just helps to stabilize your cash flow throughout the year and it forces something that I like to call real profit, which is not a technical term. There's like gross profit and net profit, but it's real profit, because a truly successful business can pay you as the owner, which depending on how your business is structured, is not an expense, it might be a distribution or a draw, but a real business will be able to support that, it will be able to support paying your tax liability, and it will be able to support your next move, your next level up that you wanna do. we have another client who's, right now she's got a bucket that she's saving money towards opening up a second location, and so she's self funding her next level.
• 28:02
  And that's really, the kind of principles behind that. Creating real profit is what helps your business be recession proof, because then you're planning for it, you can also start to see issues before they become issues, because if you don't have enough money in this one account to cover whatever the expense is, you can start addressing that a lot easier. So I really love Profit First, because I feel like it helps bridge the gap between your reports, which are still really important, but it doesn't really give you a day to day grasp on what's happening in your finances, and Profit First kinda helps bridge that gap. So it makes money more tangible for business owners, and it helps them to see, where their money's going on a day to day basis.
• 28:43
  Joe Rando: Can I ask a little bit of a technical question on this? Do you implement this in the context of the chart of accounts? Do you actually have accounts for these that this money's being put aside, or is it kinda done off the books?
• 28:56
  Megan Schwan: Well, so each of the buckets is a bank account, they are on the chart of accounts as a bank account, and the expenses are still the regular expenses that come out, or it shows up wherever it goes, it's just the buckets are bank accounts. And that's because over 70% of business owners do what's called bank balance accounting, and they look at their bank account to see how much money they have.
• 29:18
  Joe Rando: So they know which bank account to look at to know how much money they have.
• 29:21
  Megan Schwan: Exactly. This leads into that habit, which is what makes it usually very successful because we're not creating new ways of doing things, we're leaning into person's typical habits, and how they manage their money, and how they look at their money. And so it's really great system for many many people. And we take it a step further too, we help people implement the system, but then we also go into business training. So helping people understand the different profit points in their business cause it's more than just your expenses that affect profitability, it's the way you price and the way you have your culture set up and the way you have your packages set up and all these other different elements of being a business, so that's a really cool part Of what we get to do with businesses.
• 30:06
  Carly Ries: Megan, I just love how you've broken all of this down. I feel like you simplified it for people who are kind of foreign to all these concepts, which we so appreciate and I have no doubt you'll help people find success with this advice. So question for you, what is your favorite quote about success?
• 30:20
  Megan Schwan: So it doesn't necessarily directly talk about success, but my absolute favorite quote is, if you don't know your numbers, you don't know your business. And that's by Marcus Lemonis, who has been a mentor to me, he had a show on CNBC called The Prophet, and I learned a lot of key concepts from him, just like what a successful business actually looks like. And it's prioritizing your numbers, but not just your numbers, people and processes are also part of the success of business. So if you don't know your numbers, you don't know your business, and knowing your business is essential for being successful.
• 30:57
  Carly Ries: Perfect. Love it. Well if people wanna learn more about you, your business, where can they find you?
• 31:02
  Megan Schwan: I am on Instagram, Facebook, LinkedIn. I also have a Facebook group called Your Accounting Sidekick, it's free, and I do lots of free trainings in there as well. But those would be the main places, otherwise my website, you can book a call with me right on there as well. And it has my contact information.
• 31:21
  Carly Ries: What's your website, and what are your social handles?
• 31:25
  Megan Schwan: Megan schwan is most of my LinkedIn and Facebook. I think sidekickaccounting is Instagram. And then my website is sidekick-accounting.com. And it's sidekick like a superhero.
• 31:40
  Carly Ries: Okay. Well, we will include all of that in the show notes. But thank you so much for coming on today, this has been so so great.
• 31:46
  Megan Schwan: Thank you. Thanks for having me. It was a fun conversation.
• 31:50
  Carly Ries: And listeners, thank you so much for tuning in. As always, we would love that five star review. Please share this episode with a friend who you think would find this super helpful, which I think is a lot of people out there. And subscribe on your favorite podcast platform, including YouTube, and we will see you next time on The Aspiring Solopreneur. You may be going solo in business, but that doesn't mean you're alone.
• 32:11
  In fact, millions of people are in your shoes, running a one person business and figuring it out as they go. So why not connect with them and learn from each other's successes and failures? At LifeStarr, we're creating a one person business community where you can go to meet and get advice from other solopreneurs. Sure to join in on the conversations at community.lifestarr.com.