MONEY MANAGEMENT TIPS FOR ENTREPRENEURS | Paying Yourself, When to Quit, Start-Up Expenses & More

MONEY MANAGEMENT TIPS FOR STARTUP ENTREPRENEURS
Managing money as a start-up entrepreneur is one of the biggest challenges in the starting years. You’re constantly spending, working around the clock, but aren’t seeing the money come in consistently.
Trust me, I know.
In this video, I go over some key money management practices for new entrepreneurs, such as:
// IN THIS VIDEO I SHARE:
1. DIY or Hire?
2. How/when to pay yourself
3. Best bookkeeping systems and softwares
4. Money mindset tips
5. When to quit your job
// RESOURCES MENTIONED:
- The Brand Attorney, LaConya Murray - laconyamurray.com/
- Mom’s Bookkeeping Services: [e-mail] (email her to schedule a consultation!)
// S U B S C R I B E.
kzbin.info?...
New Videos Every Wednesday (& most Sundays)!
Sub Count: 25,647
// MONEY SAVING APPS & COUPON RESOURCES
Digit: digit.co/
Cartwheel: cartwheel.target.com/
Ebates: www.ebates.com/r/EWINTE66?eei...
Dosh: link.dosh.cash/ERINW148
// S O C I A L & C O N T A C T
Website | www.erinondemand.com
Instagram | @ErinOnDemand
Facebook | Erin On Demand
Twitter | @ErinOnDemand
//P.O. Box
29488 Woodward Avenue #256
Royal Oak, Michigan
48073
//WATCH THESE VIDEOS TOO
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How to Stop Spending SO FREAKIN MUCH | The Ultimate QUICK Money Saving Hack | • How to Stop Spending S...
Top 4 Ways to Make Money Using Social Media 2019 - • Top 4 Ways to Make Mon...
Why You Don’t Need More Followers to Make More Money | • WHY YOU DON'T NEED MOR...
A Day in the Life of a Full Time Entrepreneur | • A DAY IN MY LIFE AS A ...
// NEED HELP BRANDING YOUR BUSINESS?
FREE VIDEO STARTER KIT CHECKLIST
Download Here: erinondemand.com/kit/
- Outlines Free & Budget-Friendly: Gear, Editing Softwares, and tips on creating bomb video for your business.
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- For more info: erinondemand.com/ebrand/
// E R I N
I'm Erin and I'm a new full-time entrepreneur. I'm super excited to take you all along this crazy ride as I build my business from the ground up. Starting a business is much more than what many influencers make it seem. It takes grit, hard work, and a lot of learning along the way. I'm taking you through the trenches and on the mountaintops with me, giving you a good look inside the life of a startup entrepreneur.
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This video is all about money saving tips, money management, money management tips for entrepreneur, business owner money, how to pay yourself, small business finances, small business tips, money management for entrepreneurs, how to manage money in business, budgeting tips, entrepreneur budget tips, how to manage your money, small business advice, entrepreneur advice, startup advice, best business practices, how to start a business, how to start a successful business, Erin on demand, Erin Winters
**Disclaimer: This video is not sponsored.

[@danekadomino-lind2839]

Girl I checked my bank statement and saw that in one month I spent $875 on eating out alone. How ridiculous is that. I cut back and now I’m investingin myself💜 love love love your videos

[@Marshay]

Daneka Domino-Lind yesss, I never noticed how huge of an expense it was!

[@danekadomino-lind2839]

Marshay H it’s crazy right. I literally couldn’t figure out we’re all my money went and I checked my statements and was shocked.

[@Marshay]

Daneka Domino-Lind yess

[@coreygrimes9166]

Yo that’s crazy because i just checked out my statement and that thang said $897 for food alone!

[@justin_malone]

She killed this one. This has to be one of my favorite videos by her! Such great points on managing finances in your biz

[@Chrissynysc]

I agree!

[@kutlomalapa3751]

what it do bebeeeee! If you see this comment I speak 6 figures into your acc :)

[@GodlywoodGirl]

Hahahahaha I see your comment and speak your blessing over myself as well! lolol!

[@officialFINA]

Same to you!

[@charmainephasoana6850]

Ke wena mosotho, motswana or mopedi??? Im guessing you're from Limpopo, unless I'm wrong 😂

[@CollegeCutie10]

I recieved it!!

[@kelleyconsultingfirm9685]

I see it !!!

[@itsmorganashley_]

All Facts! I didn't start paying myself until this year after having a brand for 1 year. I reinvested my money back into my business and it truly helped scale it. I also don't have many expenses, so I'm able to enjoy my salary...finally, lol!

[@Toneyton]

This video was well needed!! Especially for me and quitting my 9-5... I’m also in metro Detroit and currently positioning myself to be a real estate investor.... I will most definitely be reaching out to u for your services

[@LeightonReiley]

Date your business 😂😂 such a good way of putting it. Very clear

[@shishaniuahengo5109]

Me: time for bed on my side of the world KZbin: but Erin just uploaded Me: well, might as well be late for work tomorrow 🤣

[@ErinOnDemand]

Shishani Uahengo haha too funny! Don’t be late for work girl! Xo E

[@GodlywoodGirl]

Wow I LOOOVE your advice on how you pay yourself! I never thought about just expensing a percentage of my earnings to cover food / gas for the month. I've just kind of pulled money as I needed it - yikes! Thank you for this video!

[@jadasucces6562]

Great video!!!! I am far from an entrepreneur but it’s my goal before 25. I find your entire channel incredibly inspirational. I am a major in “Digital innovation and Communication” and no one ever knows what the hell I’m talking about when I explain my career goals. I love that there’s a KZbinr who calls herself a “digital content creator and videographer” OUTSIDE of KZbin! I think people create an automatic “oh you wanna be a KZbin star” mindset. I love seeing someone be a content creator in “the real world” for a lack of better words. I’m ranting but seriously been binge watching the channel a few days now. You give me a sense of what I want to do can actually be a reality. Thanks so much!!

[@chacolefranklin8149]

This is good info. I quit my job 6 months ago to become a Realtor. I am struggling! Between keeping up with my bills, investing in my bills and real estate fees, Im already considering going back to work. Maybe for 6 months to a year to stack up and try again.

[@TrinityMinistries]

I completely agree on paying up front! It saves so much money longterm! Great tips❤

[@klsn3646]

Your videos have been such a blessing! Thank you! 🙏🏾🙏🏾🙏🏾

[@TheOrganizedMoney]

🙌🏾🙌🏾 Money video! My favorite....❤️

[@ErinOnDemand]

Haha yes girl!! You're a pro 🙌 xo E

[@dambellasworld]

Can you help me out on this personal finance stuff too, but I'm in Nigeria

[@racheldesir6612]

Love, love, love your videos. So clear to the point ..no useless fluff. Great info...

[@queenjaliyah6963]

Your technique/work method is impeccable 💕

[@wondercorealbum1116]

Such a great video, Erin. It answered so many questions that fit me where I’m at now with my biz. Thank you!

[@enoseakhaine2372]

I'm so happy I ran into your channel. I need this advice because I was really contemplating quitting my job. I've had to have a rethink tho. This was so helpful 😌

[@chelsealouise9577]

Thank you for this video! One of the biggest questions I wanted answered was when to pay yourself. I like your strategy on giving yourself an allowance because then you don't misuse the money you need to make work. I will definitely approach my family business with this option.

[@homemakingwithdenise]

I so needed this video. I’ve never managed a business before. I need all of this. Thank you. More please.

[@WordsPictures997]

Giirrlll ! This was such a great watch. Thank you so much for sharing these tips. Your commitment, sacrifice and organization are super inspiring.

[@ErinOnDemand]

Words and Pictures Ahh thank you so much! Xo E

[@akshayxyz]

This is going to be one of my favourite videos all over youtube. Perhaps the only one where I clicked subscribed - right on command :)

[@percyastronautstatus.8780]

I THINK u use to be a news reporter. Yeah I watched the news not for the news but jus to watch. You. Had the biggest crush.

[@arteisiacalvin6286]

Intelligent outlook, i love your advice. I already started this mindset its very different from how i viewed money working. Im just excited to start

[@ciscabeauty]

This is so informative! I absolutely love your channel

[@IAmAshleyNicole]

Love this! Definality need to work on my money management before my business opens!

[@SHEISALEH]

I love this!! I’m getting so anxious to quit my job, BUT I know I’m still not ready for that step. So definitely going to start looking into getting a part time job instead.

[@INTERESTEDINFORMEDINSPIRED]

Yasss love the braids! I pay car insurance for 6 months at a time as well. One less thing to worry about. As always, great video ❤️

[@Chantellemarketing]

Great video, brilliant content, please keep these kind of videos coming!

[@themoverslogistics]

Erin babe you are so relatable and thank you for sharing these tips for entrepreneurs :)

[@DIYAlex]

This is full of great advice! Thanks!

[@makeupbyife]

Great tools and tips, I am taking notes. Thank you for this.

[@josieconnection7960]

I save videos from different people and girllll.....you are the best at giving advice. Much love

[@kweenglamourcosmetics1909]

Thank You For This Video And I Love Your Makeup😍😍

[@kemg2354]

💕💕💕 Luv ur tips girl.. Your Young n focus in life..

[@lynej2011]

I had to pause this video to say what a brilliant idea to pay everything upfront! I thought that psychologically I would feel better paying small amounts for months. But it makes more sense to get it out the way so you don’t have to worry about it!

[@sheiladonkor524]

Great video!! Loved your earrings by the way😍😍

[@aliavarzea3847]

Hi 👋🏽 Ália here all the way from the 🇬🇧 Just wanted to tell you how much I appreciate your channel! Thank you 😊 Also love that top!

[@MrHerrvenakumar]

I love your content omg!

[@Mariqt95]

thank you for this video!!!!! it was bommmb!

[@jasminemorris367]

Girl. This video was so helpful.

[@dreambigthinksharppodcast7756]

Thank you for this content!

[@thriftyandclassy]

OMG!! i am so happy i found you. I def needed to hear this. You are a blessing. I have been in corporate America for 15 years and have been contemplating taking the leap into enterprenurship!

[@vbrad6226]

Take the leap but make sure you have at least a year worth of expenses saved up. I'm not sure if she mentioned that. I worked for a company for 10 years and quit last month to pursue my business full time. Best decision I ever made. Good Luck 😊

[@thriftyandclassy]

@@vbrad6226 Awesome advice..and congrats on your business success. I am so ready for this..

[@ArabellaProductions]

Great video I'm working with a lot of my clients on budgeting

[@michellecochran2154]

I would love a video on how/when to invest as an entrepreneur. Like a retirement account, and things like that. Also, I love your videos! They have been very helpful!

[@gemmamiller7011]

Even though I’m not a entrepreneur, I found this so interesting 😂 great video x

[@starsantana6712]

I have binge watched and we need more videos :)

[@Rachibeauty]

Thanks 🙏

[@fuzzyspirals]

Here first 🙌🏾💪🏾🥰

[@ErinOnDemand]

Thank you!! xo E

[@khaiahmann9192]

Thank you a ton.

[@goodenergi]

Liked before I even watched. Very on time.

[@jacquelinebaptiste4614]

Yes, to keeping personal and business expense separate.

[@Chrissynysc]

Grrat advice! I'm so glad you brought up the idea of typing up an agreement. Guys, you can literally spend 15 mins or more to draft the expectations of your service/product/payment (withOUT) an attorney or notary and it still be legally binding once both parties sign! Protect yourself without breaking the bank! *So you can start getting paid for doing what you love. It's also Ok to Google examples of the type of agreement you're looking for.

[@unknownlxve9487]

Yesss can you sub to me please

[@nubi688]

I just really want to say Thank You Erin 💕 Thank You for being phenomenal and doing a phenomenal job!! Always stay true and God Bless You always!!!! 🙏🏾😘

[@ErinOnDemand]

Nubi Aww thank you so much! That means a lot to me 💛

[@nubi688]

Erin On Demand You are so very welcome and deserving of this ❤️❤️

[@MsSharlene11]

Hi, love your videos very imformative. Could you go more into detail about what taxes, permits and licenses are required to start an online business? For instance, my daughter and I have made several attempts of starting a jewelry business but have ran across many hick-ups due to not understand the business admin end of it. The internet is over-saturated with confusing and conflicting info so its easy to get stuck or stop out of fear. Not knowing how your taxes will become affected at the end of the year, not know how to find a quality wholesaler, eCommerce site, finding customers all can take a toll on your mental ability of launching a business. Thanks.

[@ProfitCashGrowth]

I think its game changing when business owners plan their financial goals, and then monitor them weekly. This really helps drive performance by getting focus on the ultimate goal, of making profit and cash! This really helped me clarify my message in my latest video, thanks!

[@jasminehabr565]

I'm in between launching my business. So watching my savings go down is tough. I'm all new to this so I'm learning along the way. it's both scary and exciting 😨

[@RootingMindfully]

Thank you so much for making this video. I was struggling with the idea of creating a business account for my KZbin channel. Especially since I really just got started. But now I see that it is important to keep your finances separate, my question is though: do you save your taxes in your personal savings account or a business savings account? Thanks again.

[@EmpireOfRealEstate]

Great video

[@dafingaz]

Vanessa is dope! So aid Erin On Demand! 🙌🏾

[@lilashleyb]

This was so helpful!

[@unknownlxve9487]

Ikrrr I've subbed to you can you sub to me

[@anamericanentrepreneur]

You are one smart girl!!

[@TheImperfectReader]

Love the hair.

[@holisticproprietors4967]

Our finance challenges... trying to get my partner to understand the difference between frivolous spending and supporting your people. I'm having trouble getting us on a budget. Separating personal from business expenses. Mannn.... the list goes on. I'm hoping to learn how to balance my partner's business, my businesses, home life, and a full time job. HEEELP!

[@sephiroth1class22]

I live in detroit also. I’m trying get all the information needed.

[@FD1111Ministries]

Keep it all in the family 👍

[@ErinOnDemand]

FD11-11Ministries Yes ma’am!

[@sportsfamilytherapist]

LOVEEEEE YOUR VIDEOS SIS!!! TRUE DEFINITION OF BOSSBABE!! THANK YOU FOR BEING SO AUTHENTIC AND GENEROUS IN SHARING GREAT CONTENT. YOUR VIDEOS GAVE ME STRENGTH!! #realqueensfixeachotherscrown

[@nubi688]

Hi Erin 😍

[@Trishii3]

1k likes and 4 dislikes? dam girl. Just how you know the content is good!

[@DrShaySmith]

Where did you purchase your dress?

[@nubi688]

Your braids look great!!! 😍 Thank You for doing this video.

[@ErinOnDemand]

Nubi thank ya thank ya! Xo E

[@nubi688]

Your welcome cause You definitely rockin them braids! 💕

[@unknownlxve9487]

Hi can you sub to me please

[@kinkykurlychic6708]

Good Video!

[@ErinOnDemand]

Kinky Kurly Chic Thank you💛 xo E

[@sierralafaye]

Yassss braids 😍

[@ErinOnDemand]

Sierra LaFaye thank youuu xo E

[@JourneywithKasitti]

You are a beauty with brains

[@HeyItsMaori]

How do you put coffee on your business taxes?

[@Naturalhydrationskincare]

How do you track your mileage?

[@BoojieBehavior]

Do you think LEGAL ZOOM is a good option? If Erin is not able to reply I would really appreciate anyone’s opinion. Thanks in advance

[@misoomkhwanazi2137]

I was mixing business money n personal.wasnt recording everyday,do have bad spedning habits like everytime im done selling il buy myself to eat cos il be soo hungry..now i dont gave enough to buy stock.i feel like every cent i make i use to mske up stock..what should i do?? I dont wana take out a loan..i already used my savings to try make up stock n i havent even replaced that

[@tinydreamerrr]

Erin, i love you and you inspire me alot but i've noticed on your recent videos that you had TOO many ads. I'm definitely fine with it tbh since i want you to get some coins, but I had about 3 ads JUST for this video and it's getting annoying.

[@ErinOnDemand]

Heyyy! Glad you love my content! This is a touchy subject for creators who spend tons of hours creating video content. I try to be conscious of ads and tried spacing them out a little differently in this video. Will take your feedback into consideration xo E

[@tinydreamerrr]

@@ErinOnDemand absolutely! just really want to give a heads up since i also don't want you to lose subscribers and receive hate because of it. Thanks for taking it professionally, wishing you the best! 😊💛

[@YasminDan]

This is such an incredible video Erin! im a new subscriber and id loveee to be youtube friends x

[@1018kamille]

I cannot see info for lawyer. I need trademarks ASAP!

[@fellfell2787]

Impulsive spending is a major challenge in my life, as well as take outs a little more frequent than I wish due to busy schedules w the family at large. Great tips though tfs so I hope to review spending habits closer in the short term ( I've been recording receipts for some time now) w view of adjusting finances before making any other decisions...

[@paulijiewere2336]

Why did send to my Facebook friends with my authorization.

[@lilboybutters5267]

New subby here and girl I'm feeling your videos. I'm so glad I came across your page. BTW I love your hair!! Your gorgeous 🥰🥰 females empowering females 💕

[@babygurlzara]

How to pay yourself?

[@babygurlzara]

What is the percentage

[@imeboni]

Answer to the question for today: challenge I'm having is separating personal & business finances

[@SoulAngelAndreyana]

Eboni Brinson try getting two bank accounts!

[@imeboni]

@@SoulAngelAndreyana ok. Thanks

[@jklive7292]

Hey, can you make a video on how to organise and process sales, revenue and expense transactions please? Thank you!!

[@WrightDreamer]

Date your business ❤❤❤❤ that Erin.... #EBOSS

[@onenighttoremember]

I want to stop financing my business and I want to make it sustainable, tired of seeing the money fly out!

[@ChelsaeAbigail]

How did you know what business you wanted to do as an entrepreneur?