January 17, 2023
Mythbusters: Online Business Edition
Mythbusters: Online Business Edition
I just stepped off the plane at JFK and am headed back home from our trip to Spain 🇪🇸 – phew, that was fun!
There are so many icky, xenophobic, and just downright wrong myths about travel —
❌ It’s super expensive.
❌ Food carts are food poisoning time bombs.
❌ If a country doesn’t speak English, you won’t be able to get around easily.
The (gross 😝) list goes on.
The truth is, that while travel certainly is an expense and a privilege, it can be done much more affordably than people think. (We didn’t pay for our flights or swanky hotels! Thanks CC points 🙌)
And for the record, as someone who’s eaten from food carts in probably over 30 countries — always eat from the food cart.
Here’s the thing about myths —
When we knowingly or accidentally buy into myths, it keeps us from taking action and living our fullest experiences.
And while I’m sad for the people who won’t ever go to Jordan, Thailand, Israel, Japan, Mongolia, France, Russia, Finland, Sweden, etc like I have because they’ve bought into some myth passed down to them —
Are LLCs and Sole Props Taxed Differently?
😬 I’m even more freaked out by the myths I see about legally and financially protecting your online business because they’ve got serious and immediate consequences.
👇 Look at the myth someone posted in my member community (for Ultimate Bundle™️ members only!) the other day about registering their business as a sole proprietorship or an LLC:
(This goes without saying — but I’m only sharing this as an example. There is a zero-tolerance shame-policy around here. By sharing, we all learn and grow.)
What’s funny to me as a lawyer is that I can tell right off the bat that this myth is the product of a bad game of whisper-down-the-lane, online business edition.
This myth is 100% wrong — and it’s based on a misunderstanding of the difference between a sole prop, an LLC, and an S-Corp (taxation status) is.
And just like travel shows and bloggers show us the incredible opportunities awaiting us so that we get our tushes out in the world–
I see my job as exposing the truth about legally protecting your online business so that you can take action and actually do what you need to do to protect yourself.
Breaking Down Online Business Myths
🎧 On this week’s episode of On Your Terms™️, I played a little MythBusters game with you — online business edition.
I talked about business myths — like whether it’s hard to find clients online, if it’s easy to build an online business (vs. a brick & mortar), or if you actually don’t need a website.
And of course I dove into legal myths like whether you can wait to register your business until you make a certain amount, whether someone can sue you if they sign your contract, and if you need a degree or certification before you can speak about certain topics.
Are you going to listen?! Hit “reply” and say “yes!” I love hearing whether you listen to the podcast, what you’d like me to talk about next, and whether it’s helpful to you.
I don’t know unless you tell me 🙂
🎙 Listen to Episode 85″The Worst Online Business Myths: BUSTED” of On Your Terms™️ here!👇
PS. I broke down the worst legal + biz myths you need to know about in this week’s episode of On Your Terms™️ — including whether you really need a website, if clients can sue you if they sign a contract, or if it’s really a good idea to register your business in another state to save on taxes. Listen on my website, Spotify, or Apple now.
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So What Do you think?