1. I first figured out how much money I would need to make each week.
2. I also calculated how much I would need to put away for taxes and met with an attorney to ensure I was recording things properly from the start to avoid extra work later.
3. I had already formed an LLC when I began thinking about my graphic design business, and then a couple of years ago I added a DBA name, Lillyella, when I began designing jewelry and doing shows, so that was taken care of.
4. My biggest concern was health insurance, so I spent a good amount of time researching providers and small business organizations in my city, and then getting myself set up with good coverage.
5. I also decided to stock up on as many supplies as I could while I still had a steady paycheck coming in and I also rearranged my workspace.
6. I went through my monthly expenses and figured out where I could save some money. I called my cable company and just told them I felt my bill was too high, and they lowered it! I was on a roll after that: who else can I call to save money?! I called my car insurance company to tell them I would only be driving about 10 miles a week, as opposed to the 300 miles per week I was driving before, and my premium went down by about $75. That’s a great tip that some people may overlook.
7. But lastly—and this is by far the most important—I enjoyed eating enchiladas at our favorite Mexican restaurant a few last times. I figured that the luxury of eating out would be one of the first things to go!