I ran into a friend this week while I was out and about in Toronto. She is an accountant / artist and managed the books for a dance company I worked for a few years ago. Of course, after we caught up, I had to launch into my many small business questions and soak up any and all free advice she was offering. After a few minutes of her telling me the biggest money wasting mistakes that most small businesses make - namely, setting up their new business like a giant corporation and registering for things they really don't need, I realized that I had been gearing myself up to do just that. In reality, my business can be operated on a much smaller scale while still being on the up and up in the eyes of the government. I can pretty much just keep operating as I have been, filing receipts, keeping track of expenses, having a separate bank account for English Muffin money (doesn't have to be a "business account" either), and life should be grand.
I was so happy to run into my friend because it put my mind at ease about a lot of business-y items that were big question marks to me. I feel like the next few weeks can really be dedicated to expanding and developing the English Muffin product line and I can finally get to the good stuff.
Have a great Thursday,