All Talent, No Brains

That's how I feel sometimes. Especially now, when I'm in the process of changing my business checking to a new bank, changing my credit card processing account from the sub-account under the salon owner where I was renting a booth to a new account as a salon owner again, and — oh yeah — taxes. Which I do myself because I'm too cheap to pay someone to do them and not really keen on letting one of my tax preparer clients in on the intimate details of my income and expenses.

I guess I can't be totally brainless if I'm not afraid of doing my own taxes.

Nevertheless, I have had a lot of paperwork staring me down these last few weeks and my head is spinning.

I wish the business side of business got more attention during our pre-licensing time in school, and at tradeshows and networking events. Occasionally I'll see business classes offered at tradeshows, but it's always with such a hair industry bias.

If only someone had really sat me down back in nail school and gone over the EXPENSE of doing nails. Explained how to figure cost of service, cost of doing business, how to keep track of these expenses, and how to track inventory for retail. Explained taxes as a self-employed person and put some emphasis on the importance of setting that money aside so April doesn't end up being the most painful month of the year. And what about the importance of planning for your own retirement? Vacation? Disability insurance?

It turns out, disability insurance is expensive! And difficult to come by. But then there's also a basic business policy — which I can't believe so many people choose to neglect! And did you even know there's such a thing as "business owner's expense" and "business interruption" policies?

The paperwork is so important, and so not the reason most of us get into this business.

If it wasn't so expensive I'd totally get a personal financial manager because, quite frankly, I'm teetering dangerously on the brink of spending my income tax money on rhinestones.