Ep. 45 | Top Branding & Business Tips for Entrepreneurs

Join me on this solo episode as I share the latest updates on my business, including a comprehensive website revamp that now features services and highlights existing and upcoming creative projects! Tune in as I share entrepreneurial tips from my journey, including setting up an LLC, using tools like LegalZoom, and the importance of delegating tasks. Financial literacy, money management habits, and staying compliant with sales tax are also covered.

Ever thought about launching your own business or becoming a content creator?  Get inspired by two insightful creators who are highlighted in this episode! These resources are gold mines for those seeking practical insights and inspiration. Whether you're starting out or refining your approach, this episode is packed with essential tips and resources for budding entrepreneurs.

- Read the blog post!
- Watch this episode on YouTube!

Resources:

• How Brilliant Creators are Making Money in 2024 (Modern Millie)
• How to start a business from scratch: The Ultimate Guide in 2024, selling my Solo Date Cards (Michaela Witter)
• A Beginner's Guide to Managing Business Finances for Aspiring Entrepreneurs
• Sponsored LinkedIn post for Novo by Gerri Detweiler (Business Finances)

Are you a creative, solopreneur or entrepreneur who’d like to be featured on The Prolific Hub Podcast? Let us know here!

Theme Music:
She No Dull Beat by Nana Kwabena
Festivities in Belize by RAGE Productions

Chapters

• 0:00 Business Update and Content Creator Reviews
• 8:26 Entrepreneurial Tips and Business Setup
• 20:21 Building a Business

Transcript

Aliya Cheyanne: 1:30

Hi friend, welcome back to the podcast. I'm your host, Aaliyah Cheyenne, and I'm so excited to jump into a solo episode today and I wanted to share a business update. And starting out with, I am so excited that I have updated and restructured my website. So if you haven't had a chance to just yet, head on over to aliyashayancom and that link is in the show notes so you can easily click it but I'm so excited that I've just updated it a little bit. I used to have everything just kind of built out on the homepage, which just felt long and overwhelming. So now everything is segmented, including an offerings page, because my books are open again and I am looking to bring on new clients. So if you are someone who is interested in revamping your brand, talking through your communications strategy, or maybe you're someone who's looking to pursue more authenticity in your business practices and just show up as your full and authentic self, I'm your girl and I'm excited to talk to you about it. So I now finally have a services page up where you can see more and book a free consultation with me to talk through anything you might be interested in and see if we're the right fit for each other and if we can move forward. I've also broken out other pages now, so there's a specific area that just kind of leads back to the podcast website, which is exciting. There's also an offerings page where you can easily access my journal and some of the other creative projects I'm working on that will be coming online in the very near future. So I'm excited about that revamp Honestly, long overdue, long overdue.

Aliya Cheyanne: 3:21

I've had the domain for a really long time. I've had multiple iterations of my website before I even publish it to the public, and now I actually have a version that's like out in the world that I feel really proud of and excited about. So, yeah, check it out and let's work together. I'm excited about that. So I actually watched. Well, I watch several YouTube videos and things to learn things all the time, but I watched two recently that I really wanted to share. I'm going to definitely link them in the show notes below because I want you to check them out as well, especially if you're a new entrepreneur or maybe you're someone who's looking to pivot your business. Maybe you're someone who's just looking for inspiration and encouragement and a learning resource.

Aliya Cheyanne: 4:12

So one of them is by Modern Millie like that's her brand name and everything, and she shared a super informative and just like uplifting deep dive on just the top sort of creators in the industry and like all kinds of creators, like YouTubers, people who have businesses or don't outside of YouTube, like influencers, like we're living in a time where, unfortunately, a lot of people are being unfortunately, or fortunately, a lot of people are being shaped by the content they're seeing online. A lot of people are striving to what they're seeing these like YouTubers and influencers and other creative people doing and there's nothing wrong with that. But I also think there always needs to be a balance right, because there are a number of ways to create a brand and create a business and there are a number of career fields that exist. However, given the times and the nature of everything, a lot of people are influenced by those kind of folks, and what I really liked about this particular video that Modern Millie did is that she actually took the time to collect a whole lot of data and do this really solid spreadsheet, broken down by a number of different variables, to really look at the top earning content creators in the industry as of like 2023, 2024, something like that, and broke it down to the point where she can look and see the average number of length that these creators have been online, the average number of revenue that's publicly available that they're earning, whether or not they have businesses outside of their content creation. If so, how many do they have?

Aliya Cheyanne: 5:55

Because some of these folks are, like some of them not all of them are like serial entrepreneurs and they have multiple things going on, multiple streams of income and a number of other factors, and the video was just top here in terms of the quality, like the production quality. In terms of the quality, like the production quality, the filming quality, the information, the data, the fact that it was like attention grabbing, like we live in a society right now where our attention spans are dwindling, especially when it's things that we're not interested in. I firmly believe that if it's things that we're interested in, we will sit through it because we are interested, but there's a lot of things that we're not interested in and, because of platforms and apps like TikTok and many others, tolerance and our patience for just like watching things through it's gotten shorter. But I think her video did such a good job of being engaging and intention grabbing, that and it was so informative that I didn't want to click away Like I wanted to see it through to the very end. And when I did get to the end, by then she had sold me. So I wanted to watch another video of hers because it was so informative and so impactful to me and I think that she had done such a great job of that and for folks who might be interested in in content creation, developing a personal brand, I feel like this is a must watch. So, again, I'll link that in the show notes. I highly encourage you to check it out.

Aliya Cheyanne: 7:23

Another one I watched is a video by Michaela Witter, who's the founder of Ame Studio. All about me and I like her vision for the brand. An influencer, she has a pretty large following on TikTok, but part of her brand is well, all of her brand is really dedicated toward women, but part of it is for single women and she created a card deck for solo date ideas and the card deck is just so beautifully done Her marketing strategy for it in the video. I'll link it. She says in the video she doesn't really have an answer for exactly what she did because that wasn't a strong point for her, but she realized that through just filming herself doing some of those solo date ideas and the fact that other people hopping on and engaging with the product and using it, that helped to embolden and amplify her marketing strategy.

Aliya Cheyanne: 8:26

But I think, for folks who might be interested in creating physical products, like maybe cards or other things like that, she did a great video on her YouTube channel about how she started her business and this is like her second business and it's just very straightforward. There's not a lot of fluff and fill and I really liked that about her video as well. So I stayed interested and engaged and curious throughout that and I think for folks who are just starting out, who are looking for more information about how to actually start an LLC, see how to identify and work with a designer, how to learn more about, you know, an iterative process of creating the physical project that you want to create, I think her video was really good, so I'll link that in the show notes as well because I think it's, you know, worth watching. I think it's informative. She touches on everything from developing her logo, designing the cards, her overall vision for the studio, and it's full of like actionable steps that anyone can take if they're looking to start a business, particularly around, you know, creating an actual product that you physically have in your hand and you sell and send to other people. I think that was a really good video, so I found it valuable. You might too, if that's an area that you're interested in, so I'll make sure that I link it in the show notes and I think you should check it out.

Aliya Cheyanne: 9:55

One thing I've learned in having a business, particularly around this year and this time I'm two years into creating my LLC and pouring into it more actively now than I've ever been before. I'm doing more things right now than I was doing in the beginning. I might have started it because I was taking on consulting jobs as an individual and I wanted to actually have like an entity that I could do that through. So legally setting that up made the most sense to me. There are so many ways that you can set it up. You can literally do it yourself if you want to spend the time and the energy to just quickly learn how to register it and do it on your own.

Aliya Cheyanne: 10:41

Some folks prefer others to do it for them and they're willing to pay that. That's something I did. Some people use brands like Taylor Brands or LegalZoom or these other platforms that will do that stuff for you for a fee. And I used LegalZoom to set mine up because I wanted to make sure everything was done right. All the paperwork was done right, all that stuff was taken care of and done. So I paid what I needed to pay, I did what I needed to do and I let it be set up that way. And there are some folks who do that directly themselves, some folks like Makayla Witter, that YouTube video that I was just telling you about. She mentioned in her video that she has a CPA. She sent the fee and whatever information the CPA needed and the CPA did it on her behalf.

Aliya Cheyanne: 11:27

Everyone's different. This is just coming to me to say. But one thing I've noticed and I read about a lot, I've seen a lot in interviews, and it just keeps coming up over and over again is that a lot of entrepreneurs some of the most successful entrepreneurs they're not always successful because they're the smartest person or they have the best strategy, but they're good at identifying tasks to delegate elsewhere and they're great at identifying tasks to outsource. They're great at identifying tasks to outsource. So when you have the resources to do so, that's one thing. It's totally different if you're in a different position and you're having to, you know, figure stuff out on your own as best you can until you get to a point where you can afford to bring on more help and more support. But I think that's something to keep in mind. If there are some tasks, even in setting it up, that you have the means to outsource to a reputable person or brand, do it. If not, spend a little bit of extra time to figure out how to do that yourself directly, it's certainly worth looking into.

Aliya Cheyanne: 12:36

I will say on the other side of that, that having a business will amplify certain habits, particularly around money. It might also exacerbate certain issues. So if you are not great at handling money in your personal life, having a business and handling money for your business will quickly expose whether or not you're good with money. Child, let me just say so. That is something to think about. Let me just say so. That is something to think about. I feel like getting your money right as an individual can be hard if you are not actively employing good money habits and practices, and a lot of that boils down to financial literacy.

Aliya Cheyanne: 13:14

Not everyone has access to tools for financial literacy. Some people do, whether that be through books, whether that be through YouTube, whether that be through learning from relatives Some people depends on what relative you learn from child, because if you learn from a relative that's good with money, that's one thing, but if you're learning from a relative who's not, that's something completely different. It might be easy to think that anyone and everyone has access to YouTube. Not anyone and everyone has access to YouTube. There are a lot of people who don't have access to internet. Okay, so everyone's financial literacy is different, but if you're in a position where you do have access to learn more about becoming more financially literate whether that be through reading books, whether that be through listening to audio books, whether that be through listening to, maybe, podcasts about financial literacy and money management, whether that mean you have the resources to hire an accountant because you're moving that much money through your business, that you need that extra hand and that extra support from a trusted CPA or trusted accountant or trusted money manager, financial advisor whatever the case may be, it's very important to get your ducks in a row and get that stuff in order.

Aliya Cheyanne: 14:29

So, even though I established my LLC and my consulting business in 2022, I wasn't always moving funds through that business. There were times where, after the business, I might've taken on a contract, but I still did it as an individual. I didn't necessarily do it through my business, and that's largely because I hadn't set up some of the systems that you actually need to move money properly through a business even as basic as a business checking account and a business credit card, things like that. So now I'm in a season where those things are finally set up and I'm building my business credit history which is different from your personal credit history and I am now moving certain recurring expenses from my business through the business credit card or through the business checking account, expenses for my business through the business credit card or through the business checking account, making sure that if I am taking on new contracts, I am signing these contracts as a business and through my business instead of an individual, because obviously there are different tax advantages or implications when it comes to tax time, doing a better job of honestly keeping track of receipts for everything.

Aliya Cheyanne: 16:39

I was not doing that, if I'm being very honest. So I actually went through a huge period this year where I did some backtracking and actually went through all of my expenses using a tool. Of course you can use something like QuickBooks. You can use platforms like Wave LegalZoom, like with the tax plan I have, there's actually like an LZBooks feature so I can sync cards to it and pull transactions that way and pair them with receipts and everything that way and pair them with receipts and everything, so that when tax time does come, I already have those things tracked and in place and categorized so that it's a lot easier.

Aliya Cheyanne: 17:23

I think doing those things and getting on top of those things is actually really important. The earlier the better. I wish it's something I would have done earlier and sooner in my process of forming, but this has been a learning process for me. I'm learning a lot from other entrepreneurs in my life. In my actual life, I'm learning a lot from entrepreneurs whether through YouTube or online or other platforms. Initiating these best practices early and getting certain systems in place early will only make for a smoother process down the line, and I think that's also really important.

Aliya Cheyanne: 18:00

Also, setting aside money for like tax purposes too, like and I was advised early on whenever you take on certain contracts, make sure you're setting aside 10%, 15%, 20%, whatever the case may be for tax purposes during tax season. And that is important, child, because you don't want to use and spend up all that money and then be hit with a tax bill. That is just shocking during tax season, and that is something I'm keeping in mind as well, like how I'm bucketing money for business expenses for tax purposes to pay myself. I'm not in a position yet in my business where I can pay myself like a consistent bi-weekly or weekly salary per se, but I can draw down funds from my checking account when I need them to pay myself, like the right way to withdraw that money, like in lump sums, and something that I'll be doing for now until I get to a place where I can consistently, like you know, pay myself on a consistent, regularly scheduled basis. So keeping that in mind is important as well, and also making sure that I have that account available so that, as I'm pursuing grant funding for creators and creatives, as I'm pursuing grant funding for small businesses, for women entrepreneurs, et cetera, if and when or I mean I'll say if, when I am selected for a grant, I have somewhere to actually deposit that for the business, versus just putting that into a personal account, because that wouldn't be right. So establishing that is really important and being able to have a place that's solely dedicated to business experiences makes it a lot cleaner, because I was doing it a messy and complicated way before, where I was actually having to sort through what was a business expense versus what was a personal expense based on the card I was using, and now it's just much simpler and much cleaner because I have cards and accounts that are solely dedicated to business expenses, which just makes the process a lot more smooth for me.

Aliya Cheyanne: 20:21

I'm still very early in the game. I'm still learning so much. I can only continue to grow and get smarter and wiser and stronger from here, and I look forward to continuing to do that, to continuing to evolve and to pivot and to learn everything that I need to learn to do what I need to do. So I'm taking it one step at a time. I'm learning. I love sharing what I've learned to some folks who may be listening. Maybe this is information you've heard before, that you know already. That is obvious to you. However, to some folks who are listening, maybe this is new information or something that you haven't thought about before. So I offer that as something to think about and to encourage you to make your business practices as simple and straightforward and clean and organized as you possibly can, because it will only make money matters and money management easier for you down the line.

Aliya Cheyanne: 21:20

Some of the things I create, I will not be creating through my business. My business is mainly for consulting purposes, like contracting with individuals and organizations, other entities. And then there are other things that I create that are just created by me as an individual, like my journals that I created in 2022 is not through my business. Like that's through me as an individual, like I self-publish that as myself. And there are some other things that I want to create like that that will be in a similar fashion. I won't be doing them through my LLC. So I think it's just important to be clear about what things you create are being funneled through, what, and what makes the most sense financially, brand-wise, whatever the case may be, to just think those offerings through and how you are moving those projects through your business, your brand or anything else. I would love to get to a place where I can create some merch for the podcast, because I think that would be really, really fun. I'm imagining some fun t-shirts, maybe some mugs, maybe hoodies, like other things like that. And if I ever did get to a place where I was doing that regularly.

Aliya Cheyanne: 22:33

Something that you need to have to sell products like that through a business is a certificate of authority. So that's something that I made sure I got this year so that, if and when that comes to be, I can be sure to make sure I'm set up properly and doing everything legally and the right way With that. Usually you're required to check in quarterly, at least in the state of New York. Check in quarterly to just report any sales or sales tax purposes and even if you don't sell anything, you still have to check in. And even if you're just reporting zero, just so you're keeping track of that and staying on top of that, because the last thing you want is to be hit with a sales tax bill for your state and that's not something you stay on top of. So something to think about.

Aliya Cheyanne: 23:25

But for things like maybe potentially doing merch for this podcast, I would need a certificate of authority in order to sell those things. So something to keep in mind, just something that I'm making sure I'm prepared for. If and when I decide to move forward with that, I can without issues, and if I don't, I'll still have it and I'll still be good either way. So keeping little things like that in mind is important. So, with that, I will say that this episode was more about sharing some resources that I found valuable, that, if you are looking to start a business or a brand whether that be certain products, products you want to bring online and getting started in that way or maybe you're thinking about content in some capacity I wanted to share that Modern Millie video that's linked in the show notes, as well as the Michaela Witter video that's linked in the show notes as well. I wanted to talk a little bit about how I'm bettering my practices around money management for my business and also share just that. My website is revamped and my books are open, so if you're looking to connect in that capacity, head on over to aliyashayancom. Book a free 30-minute consultation with me so that we can get started working together.

Aliya Cheyanne: 24:47

If you are tuning into this podcast and you are a business owner, or maybe you're someone who is looking to start a business as a creative entrepreneur or any other kind of entrepreneur, I would love to know what are some money best practices that you've employed in your business or that you're thinking about employing when you start your business. Feel free to text the show and let me know, or feel free to send in a voice note. You can find a link to do both in the show notes below. So let me know. If you have any feedback about what you heard, feel free to share it in a text or voice note, or to leave a positive review for the show five stars and a written review. Thank you so much in advance. If you liked this episode or any of the episodes that you've heard so far, let me know. I would love to connect with you and hear more about what's resonating with you.

Aliya Cheyanne: 25:39

Next week, we'll be speaking with Michelle Thames, who is a digital marketing strategist and coach, to talk all things marketing, all things brand identity, her business and her podcast, social Media Decoded, and I'm so excited for that conversation. So if you're interested in learning more about how to market your business and learning more about marketing in general, I highly suggest that you tune into that episode and I will catch you on the next one. Thank you so much for tuning in today and I'm so excited that you decided to spend this time with me and I am grateful for that and I'm grateful for you. So thank you for that and I will catch you on the next episode, bye.