Five years into my real estate business, everything was running smoothly. . . . Then came tax time, when I found myself facing $30,000 in taxes, interest, and penalties. What it boiled down to was a series of bad habits and a misconception of profits.Since then, I’ve been able to fix my bad habits and learn both what goes into business beyond the products or services and how to drive profits.
Too often, new entrepreneurs struggle with separating personal and business expenses, financial planning, and the basics of business. But they shouldn’t have to—many other entrepreneurs, like myself, can share the danger signs with them so new entrepreneurs avoid our earlier mistakes.
Check out my full article to learn more about the financial danger signs to be aware of and what actions you can take when you see them.