First and foremost, we laid the foundation for this business long before we ever talked about me starting my own business. When we had the conversation about me starting my own business, we talked with our financial advisor and looked over our regular, personal expenses.

In addition to the six months of emergency savings we had in place, we determined we need an additional six months of business expenses on reserve in order for me to comfortably walk away from my corporate paycheck.

On average, 40% of Americans can’t afford a $400 emergency expense. This means an unexpected health bill, dentist visit or new tires can put you in a bind. So, even if you take nothing else away from this episode, I sincerely hope that you start building an emergency savings account.

Download my free guide to how we saved for my small business and expenses you can expect to pay upfront so you can plan financially for your own business at getauthenticbranding.com/resources.

Music: Tuesday by Sascha Ende, Music.io

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Saving for your small business