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About the Episode
Coming up, is a solo episode where I share some unspoken truths that I’ve experience about entrepreneurship and also tell you about the weirdest “I’ve made it” moment since I started this podcast. Stay tune and oh by the way I missed you.
It’s tough –a payroll story
I recently hired a CPA to help me reorganize my LLC into an SCorp, which made more sense in a tax perspective, and with that change, I had set a payroll for myself. This means that part of my earnings goes to the government because of taxes and part of it now goes to my bank account. But in July, I lost a consulting client and I was n’t sure if I was going to make my own payroll. I had to wait for certain checks to come in and it was tough because, even if we are not talking about big amounts, I didn’t think I was going to make it.
I thought many times of going back to my corporate job since it was so much easier knowing that a paycheck is coming every month. Now, completely on my own, it’s scary and it is affecting me personally.
Being an entrepreneur means not having someone to give you a list of to-dos because it is all up to you. It is one of the perks of being an entrepreneur but I also felt that all this weigh was all on me and it is tough because there was nobody to guide me on what do to next.
In the corporate world, when your shift ends, you can just say, ‘Dude, I’m out’ but this time around, I had to split tasks with my wife and have to work out a schedule in a daily basis..it is simply crazy. Even family life gets affected because even when I am with my kids, I still think about work so I can’t give them my undivided attention.
There are a lot of uncertainties in my chosen path as I simply do not know if things will work out or not. I have business ideas that I’m hoping to launch soon but I don’t know if anything’s going to happen. So I learned to be focused and have fixed my sights in building apps. I am working on updates on my previous apps, hired a developer to work with me on Osnap version 2 and am on my way to creating tons of reskins.
My challenge this August is to release a new app every day and this challenge has forced me to think about apps every single day — whether it’s an update or a reskin. I am now focused on long term income drivers and I am hoping for the best!
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