Introduction to Back-Office Essentials
Ch 3 Intro
Starting a business comes with foundational requirements crucial for smooth operations: bank accounts, credit cards, insurance, and more. Navigate the early stages of business setup by understanding these back-office essentials, and learn how to efficiently handle the initial logistics so you can focus on your primary business goals and objectives.
This video is part of the free Small Business Startup Course designed to help walk you through the entire process of business formation from idea to launch.
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Tackling Business Basics: From Banking to Bookkeeping
From obtaining a business checking account tailored to your needs to managing accounting software, this section covers the must-knows. Discover the benefits of establishing business credit, the ins and outs of insurance, and best practices for employee management. Streamlining these processes not only saves time and money but also preempts potential challenges. Dive into these comprehensive insights to fortify your startup journey.
Previous Video: How to Get an EIN Number
Next Video: Opening a Business Bank Account
Introduction to Back-Office Essentials – Transcript
When you start a business, there's just some logistics that you need to get done right out of the gate so that you can ensure that your business operates smoothly. You need a bank account, credit cards, insurance, a phone number, accounting software, and more.
In this section of the course, we're going to walk you through the decisions that you'll need to make surrounding these back-office essentials so you can get through them as quickly as possible and get working on why you started your business in the first place.
Hey everybody, Will Scheren here from Small Business Startup Guide by TRUiC. This video is part of a larger course dedicated to helping small business owners cut through the noise and get to the essentials of starting and operating their business. If that sounds like it would be really useful to you, be sure to like and subscribe.
We just finished up our section of the course explaining to you how to turn your business into a legal business entity so that you can obtain an EIN – or your company's Social Security number. This will allow you to open a business bank account, providing you with a level of protection by separating your business assets from your personal assets.
In this section of the course, we're going to start by telling you everything that you need to know about opening a business checking account and let you know about different banks that could provide you with better levels of service depending on what's important to you about small business banking.
We'll also cover how you can begin to quickly establish credit for your business by explaining what you need to know about obtaining a business credit card.
We'll teach you how to get a phone number for your business and everything that you need to know about purchasing business insurance.
We'll spend some time teaching you how to set up and automate accounting software so that you can stay on task with your business instead of diving into the minutia of creating reports and ensuring that you're prepared for tax season.
And we'll finish this section up by discussing how to pay yourself, consider hiring employees, and taking care of all the logistical issues that arise when you have to pay them as well. And lastly, we'll discuss everything that you need to know about obtaining any needed loans for your business.
If you stick around for this section of the course, you'll save yourself a lot of time, probably some money, and definitely a headache as we walk you through setting up needed back-office essentials.
This video is part of a step-by-step course that provides business owners all of the essential information for starting and operating their business. We provided a link for you to get access to all of the free and discounted business tools we mentioned in this course below this video.
Be sure to like and subscribe to get more of this content. We’ll see you in the next video, and if you have any questions, let us know.