Protect yourself

- When you start a business,…you want to make sure you're protected:…protected from theft, fraud, fire, accidents, lawsuits,…and we should add one more.…You need to protect your business from yourself.…In order for your business to operate properly,…you need to separate it from you.…Even though you probably identify with the business…and you've put a lot of time and sweat…and probably tears into it, it is not you.…Some of this is a state of mind.…Mentally you have to be prepared for the good and the bad.…If things go amazingly,…you can't let your success go to your head.…

Just like you can't let the bad times ruin you mentally.…This is just a business; it's not you.…So given it isn't you, you need to make sure…you separate yourself financially from the business.…You must have separate bank accounts…for your personal finances in the business,…which means you should not use…your personal credit card for your business.…Get a business credit card or get a debit card…for your business account.…Make sure there's a legal division…