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Welcome to Know the Rules of the GameⓇ Podcast for Small Business Sustainability with your host Desiree Patno, CEO & President of Women in the Housing & Real Estate Ecosystem (NAWRB). Small businesses are more sustainable when they secure, protect, diversify and invest their resources efficiently.
Business owners have to be proactive in protecting their resources from internal and external threats, plan for short and long term revenue, and adjust with company governance. In this episode, Desiree shares the ebb and flow of running her own businesses, and what she wishes she knew when she was younger.
Three Rules for Small Business Sustainability
- Protection & Insurance During COVID-19: Financial Vetting, Cyber Security and Payroll Alert. Remember banks are private/public, while credit unions are member-owned. Most credit unions don’t do business accounts.
- Revenue & Access to Capital Short and Long Term Revenue: From Grants and Loans to PPP and EIDL, this episode addresses major clarity issues as the final is not until the end of May. Access to Capital addressed, to include: Venture Capital, SBIR/STTR, Grants 350k.
- Company Structure & Scalability: Are you an S corp, LLC, Independent Contractors, or 5013c? Scalability, Governance Board or Committee/Tribe/Accountable. Other topics addressed: Multiple Companies, Liability Exposure, Payroll in Central company with leased employees, and 1099 vs salary scalability to handle the next disruptor.
Providing small business owners with guiding principles for long- term success, NAWRB’s Small Business Sustainability Package advises small businesses to be meticulous in everything from vetting their financial institutions to establishing excellent cybersecurity. NAWRB also offers a variety of Financial Education platforms focused on poverty, homeownership, small business sustainability and social impact. Learn more here.
If you missed any of our previous incredible podcasts, we got you covered! Visit https://www.nawrb.com/podcast.