Lesson 2: Boring Now, Freedom Later—Why Building a Foundation Matters
We're continuing our series 10 Years, 10 Truths: What Building My Own Business Really Taught Me. While my first lesson encouraged jumping in and helping clients right away (rather than obsessing over logos and fonts), there are critical foundational elements that will pay massive dividends if you set them up from the get go.
Think of these as the invisible systems that will eventually give you the freedom to focus on what you do best.
CLARIFY YOUR VALUE PROPOSITION
I swear by Strategyzer's Value Proposition Canvas. It helped me articulate Springboard's unique offering by examining three critical elements:
Customer pains you solve
Gains you create
Jobs clients hire you to do
Their resource platform is gold, and this YouTube walkthrough breaks it down simply. Don't skip this step! Draft your value proposition, test it with real people, gather feedback, and refine until it clicks.
SET UP YOUR LLC
This might seem tedious, but it's surprisingly straightforward:
Use a service like How to Start an LLC in Georgia
Search if your business name is available
File your LLC paperwork
Acquire an EIN (tax ID) to open your business bank account
I recommend listing yourself as the registered agent if you're the sole owner (like I am with Springboard Strategy). The State of Georgia's explanation confirms these same steps.
OPEN A DEDICATED BANK ACCOUNT
Once you have your EIN, open a small business bank account immediately. This simple step will save you countless hours of accounting headaches and make tax time infinitely easier. Trust me—your future self will thank you for separating business and personal finances from day one.
REGISTER A DOMAIN NAME and create a simple website
What was once Google Domains is now Squarespace Domains, so you can now register a name and set up a simple website in a single platform. I chose Squarespace to build my website for its clean templates and ease of use.
ESTABLISH A FOCUSED SOCIAL PRESENCE
Choose quality over quantity — Pick just 1-2 platforms where your ideal clients actually spend time. For consulting, LinkedIn might be the sweet spot; visual services are best on Instagram.
Consistency trumps frequency — Posting twice weekly on a regular schedule beats random bursts interspersed with silence.
Create content ecosystems — Develop one core piece (like a blog) that can generate multiple social posts, making the most of your writing time.
Use scheduling tools — Platforms like Buffer or Hootsuite let you batch-create content in advance, keeping you from the daily distraction of social posting.
Pro-tip: If you're over 50 and don't love social media, consider hiring a virtual assistant or college student to be your social brand ambassador. They can maintain your presence while you focus on what you do best—serving clients and growing your business.
TRACK EVERY HOUR FROM DAY ONE
While lesson 1 encouraged jumping in and helping clients immediately, there's a crucial companion habit: tracking your time from project one. I use Harvest, but any consistent system works.
This isn't just busywork—it's valuable data that combats "planning fallacy" - where we consistently underestimate how long tasks take (research shows by up to 60%!). These time logs become your secret weapon for future proposals, allowing you to create realistic scope and profitability for your business.
After a few months, patterns emerge allowing you to improve your profitability and prevent the classic small business trap of chronically undercharging.
These foundational elements might not be glamorous, but they provide the infrastructure that allows your business to grow sustainably. The time you invest today will buy back your freedom later. Onward!
