239 - My New Business
On today's episode of the podcast I'm announcing the brand new business I'm launching!
I didn't want to do it until I was sure it was something I could commit to and stick with. I also wanted it to be something that made me money. I've had ideas of things I want to do, like becoming an AAU basketball coach or starting a new Instagram account about entrepreneurs who are also an Enneagram 7, but at this time, I need something that could bring in serious revenue. I knew I wasn't ready to start something new until thought my current business was ready to make it happen.
For me, this meant my current business had hit a certain level of monthly recurring revenue so I can rely on it to pay my salary and the business can continue to sustain itself with the help of systems in place. My business is in a sustainable place without needing to continually reinvent the wheel. I've had this new business idea for awhile, and my current business is finally at a place where I feel ready to start a second business.
Introducing, Drag Tax, the tax firm for drag queens, kings, professionals and LGBTQ+ entertainers. I am a huge fan of RuPaul's Drag Race and through research I saw there was really no one marketing their tax services specifically for drag entertainers. So I ordered some business cards and headed to RuPaul's Drag Con to network.
I've alluded to the business throughout past episodes, so are some things I've been working on behind the scenes:
- I spoke with entertainers at Drag Con to meet potential guests for my podcast
- I hired Ally from Gizbow Creative to design branding for me (she did my Profit Rx branding). I gave her on-brand imagery and color codes and designed the branding through a VIP day
- Started a YouTube channel and a podcast.
- Scheduled my brand photo shoot for October with a Palm Springs vibe, lounging by the pool. The tagline is "Taxes are a drag, hire us to help," and this shoot will allow you to imagine how stress-free your life could be if your taxes were all set.
- I worked with my first client on two years' worth of book keeping
- I'm currently studying for the Enrolled Agent test. This exam certifies you to do IRS-related work like filing taxes and handling back taxes. I don't want to become an EA, but I always believe in having the knowledge of doing something when hiring someone to do it or so I can do it myself if someone were to quit.
Now that I'm running a more service-based business I'll be able to give you even more details on this podcast about the business side of running a service-based business. I'm looking forward to share more (including all the financial details as part on our profit report).