More Americans than ever before are working for themselves. The number keeps climbing. There is much allure about starting and having your own business. Many love the idea of being their own boss, the ability to let their creative juices run, and the flexibility it holds. Yet many who start their businesses are confounded about what they don’t know. The challenges are immense from taxes to maintaining payroll. Many often overlook things necessary for longterm business survival. What are the most common mistakes new businesses makes? How can they be avoided?
I had a chance to learn more in this interview with Ashleigh Searles, author of the soon to be released book, Startup 2 Success. Searles has a list of the common mistakes many make when starting their business and offers tips on how to avoid them.What led you to write the book?
As a CPA and entrepreneur, I have met business owners that find out that I am a CPA, and they would corner me at parties with questions about the IRS
. I quickly noticed that these questions about the IRS and requirements as it relates to being a business owner were similar questions despite meeting different people across various industries or business size. Fast forward to a business brainstorming meeting at my best friend's house years later and she mentioned one of her friends, Jasmine Womack was having a business conference on how people could turn their message into a book. Long story short we attended the conference, and from there the Start Up 2 Success story began
.
What were the challenges in writing it?
The biggest challenge to writing the book was finding the time. I am a busy mom of 3 kids with a husband that is also a small business owner, so we are always running somewhere trying to take a child here, manage work schedules, or just find time to relax. In 2024, I forfeited celebrating my birthday and requested that my mom and husband watch my kids for my birthday weekend and to not bother me at all to allow me to finish the book. That actually worked and I was able to complete my book over the Labor Day weekend.
Can you share a little bit about your book?
The book Start Up 2 Success - 7 Tax Savvy Tips for the Novice Business Owner is an easy-to-understand guide for a newer business owner. Consider this book a conversation with your CPA friend. I weave in frequently asked questions and stories to help a business owner understand why these tips are critical to their compliance success.
What did you enjoy about writing the book?
I really enjoyed talking with clients about the book. To write the book I scheduled calls with some of my clients and chatted with them about their challenges and pain points as it related to the IRS and entrepreneurship. This book quickly became a passion project for me.
What are some of the most common mistakes new businesses make?
The biggest mistake a new business owner can make is not establishing a relationship with a trusted adviser such as an accountant or financial expert that will file their business taxes and help them with financial details as it relates to their business. In the book I talk about questions that newer business owners should ask someone that they are considering building a relationship with. I also discuss the credentials and experience needed for this person as well.
How can new businesses avoid making more common mistakes?
Read the book Start Up 2 Success- 7 Tax Savvy Tips for the Novice Business Owner and network with other business owners. Financial Literacy is built on community!
If a business owner realizes they have made some mistakes early on, what is the best way to fix them?
We are human, we will make mistakes. It is okay- move forward and do better in the present and future.
Did you ever make any of these mistakes when first starting out?
No, I did not make any mistakes mentioned in the book, but I made mistakes in other areas. As an entrepreneur you are figuring things out at first, I made several mistakes with marketing, not understanding my ideal clients, etc. I always tell myself entrepreneurship is a faith walk you cannot focus on fear. Learn, adjust and keep going ---you GOT THIS!
Is there anything in the book that you wished you had included that you did not?
No, because I did not want to overwhelm the reader. I wanted this book to be introductory in nature and not technical or long.
Will there be another book in your future?
Yes of course- the next book will be longer and more technical and will specifically focus on S Corps. I cannot wait to begin writing it! Please become apart of the Start Up 2 Success community and track my journey with my next book at www.startup2success.org or purchase Start Up 2 Success-7 Tax Savvy Tips for the Novice Business Owner there as well.
As a CPA and entrepreneur, I have met business owners that find out that I am a CPA, and they would corner me at parties with questions about the IRS
. I quickly noticed that these questions about the IRS and requirements as it relates to being a business owner were similar questions despite meeting different people across various industries or business size. Fast forward to a business brainstorming meeting at my best friend's house years later and she mentioned one of her friends, Jasmine Womack was having a business conference on how people could turn their message into a book. Long story short we attended the conference, and from there the Start Up 2 Success story began.
What were the challenges in writing it?
The biggest challenge to writing the book was finding the time. I am a busy mom of 3 kids with a husband that is also a small business owner, so we are always running somewhere trying to take a child here, manage work schedules, or just find time to relax. In 2024, I forfeited celebrating my birthday and requested that my mom and husband watch my kids for my birthday weekend and to not bother me at all to allow me to finish the book. That actually worked and I was able to complete my book over the Labor Day weekend.
Can you share a little bit about your book?
The book Start Up 2 Success - 7 Tax Savvy Tips for the Novice Business Owner is an easy-to-understand guide for a newer business owner. Consider this book a conversation with your CPA friend. I weave in frequently asked questions and stories to help a business owner understand why these tips are critical to their compliance success.
What did you enjoy about writing the book?
I really enjoyed talking with clients about the book. To write the book I scheduled calls with some of my clients and chatted with them about their challenges and pain points as it related to the IRS and entrepreneurship. This book quickly became a passion project for me.
What are some of the most common mistakes new businesses make?
The biggest mistake a new business owner can make is not establishing a relationship with a trusted adviser such as an accountant or financial expert that will file their business taxes and help them with financial details as it relates to their business. In the book I talk about questions that newer business owners should ask someone that they are considering building a relationship with. I also discuss the credentials and experience needed for this person as well.
How can new businesses avoid making more common mistakes?
Read the book Start Up 2 Success- 7 Tax Savvy Tips for the Novice Business Owner and network with other business owners. Financial Literacy is built on community!
If a business owner realizes they have made some mistakes early on, what is the best way to fix them?
We are human, we will make mistakes. It is okay- move forward and do better in the present and future.
Did you ever make any of these mistakes when first starting out?
No, I did not make any mistakes mentioned in the book, but I made mistakes in other areas. As an entrepreneur you are figuring things out at first, I made several mistakes with marketing, not understanding my ideal clients, etc. I always tell myself entrepreneurship is a faith walk you cannot focus on fear. Learn, adjust and keep going ---you GOT THIS!
Is there anything in the book that you wished you had included that you did not?
No, because I did not want to overwhelm the reader. I wanted this book to be introductory in nature and not technical or long.
Will there be another book in your future?
Yes of course- the next book will be longer and more technical and will specifically focus on S Corps. I cannot wait to begin writing it! Please become apart of the Start Up 2 Success community and track my journey with my next book at www.startup2success.org or purchase Start Up 2 Success-7 Tax Savvy Tips for the Novice Business Owner there as well.
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