Most Common Mistake Small Business Owners Make and How to Fix it!

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I’ve spent my entire 30+ year career helping entrepreneurs navigate the tricky waters of doing business. There are so many pitfalls you can fall into which create drama! Speaking of drama, I’m going to share the Most Common Mistake Small Business Owners Make and How to Fix it! The story below illustrates my point, but it is not unique. I can’t even tell you how many times I run into this with a new client or student.

TRUE STORY

I attended a webinar hosted by a very popular online personality, where she shared how she grew her business to $5million + per year. I still get emails from her because I am always interested in women helping women in the world of business. I was curious, though,  if she too made this common mistake. Spoiler alert - she did! 

In less than 5 minutes with a simple Google Search, I was able to find her home address online. She’s a beautiful, smart, woman, with a fabulous life (on IG anyway) making $5million+ per year. I am not the creepy type but if I was, I could be on her doorstep like “Hey Girl!”  

THE PROBLEM

She listed her home address on the “contact information” of her LLC!  So many people do not realize that if you are a sole-proprietor (operating under a “Doing Business As” or dba for short), or own a Corporation or LLC, in most states when you register your business this is public information and someone can find you with a quick Google Search.

THE SOLUTION

Luckily this is an easy fix. GET A PO BOX OR MAIL BOX (UPS STORE, ETC) ADDRESS AND USE THAT INSTEAD OF YOUR HOME ADDRESS. Honestly, that’s all you have to do. There is a bit of an expense, but it is totally worth it to protect your privacy. Additionally, if you are a sole proprietor, you should also get an EIN (Employer Identification Number) from the IRS that you can use instead of your Social Security Number. Don’t put your details on blast! Protect yourself physically and digitally! 


WHAT YOU SHOULD DO NOW!

Check your online presence and see what addresses are out there. Change them to a secure mailing address as soon as possible. Here are some examples of where to check:

  • Your city or state’s website for dba’s (Fictitious Business Names), corporations, LLC’s

  • Your state’s licensing sites if you have a registered license (e.g. Department of Real Estate, Contractor’s licensing board, Seller’s permits,etc)

  • Tax returns for non-profits (those are TOTALLY PUBLIC RECORD, btw…)

  • Any other government site where you registered your business.

I hope this tip has been helpful! Please share with anyone that needs this information - especially our sisterpreneurs!. This is just one of the lessons that I teach in my courses to help my students get started right, or to fine-tune their passion to profit journey.


Martha TheusComment