- Joined
- Oct 20, 2012
- Messages
- 118
Rep Bank
$830
$830
User Power: 173%
Need advice please on what would be the best to do during this beginning phase.
When you are just starting out on execution and are not ready for an LLC or Corp yet what would be the best way to handle banking so it makes it easier in the future when the business grows and is the safest for your own personal accounts. For example you need to buy X amount of product on Alibaba do you use your own personal Credit Card or do you obtain a special side card in your name just for business purchases that way it's not mixed up with your personal expenses and for CC safety reasons?
Also If you are receiving payments to your paypal is it best open a separate checking account just for this to transfer the money to or do you just transfer it to your personal account that you use for all your personal expenses?
Thoughts on handling stuff on this?
When you are just starting out on execution and are not ready for an LLC or Corp yet what would be the best way to handle banking so it makes it easier in the future when the business grows and is the safest for your own personal accounts. For example you need to buy X amount of product on Alibaba do you use your own personal Credit Card or do you obtain a special side card in your name just for business purchases that way it's not mixed up with your personal expenses and for CC safety reasons?
Also If you are receiving payments to your paypal is it best open a separate checking account just for this to transfer the money to or do you just transfer it to your personal account that you use for all your personal expenses?
Thoughts on handling stuff on this?
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today