The first step to building your business is figuring out your Why.
It’s a simple question: Why did you choose to take the leap and start your own business with Pure Romance?
Your Why doesn’t have to be complex or grand, it just needs to be something that motivates you to wake up every morning and conquer the day. Every decision you make – and every goal you set – should lead you towards your Why.
Your Why will continue to grow and change as your business does, and discovering it will help you figure out just how much of that growth and change you want for your business.
The good news is that you can choose how you run your business! With Pure Romance, you have an assortment of business tools that can help you achieve your goals and attain the size of business you want.
As a Consultant, you have the potential to earn extra money that can enhance your life and ensure your future. With some work and dedication, you can build your business and make sure you’re on the financial track for success.
Below, you’ll find some suggestions on how to simplify money management so you can set yourself up for a successful future while you take on the world.
Maintaining a profitable business means tracking and analyzing your finances. Keeping a separate checking account for your Pure Romance business will help you do just that.
If you haven’t already, go to the bank of your choice and open up an account that works for you and your budget. Some business owners choose not only to open a bank account for their business, but even choose a different bank altogether, just to keep things separate. Note that this account does not have to be a “business account” by the bank’s definition. It can be a personal account that you simply use for your business transactions.
Having an account that is exclusively for your business will help you:
Opening a separate bank account is the best way to avoid the mess of mixing your business and personal transactions. If you have a separate account for your business, then you have a clean record at the end of the year.
Remember to keep all your invoices and receipts to match up to your checkbook and bank statement entries and you will be in good shape when income tax time rolls around.
An important step in starting your own business is to take a look at your personal finances and figure out what you spend each month. Figuring out this household budget will give you a thorough understanding of what you need to earn each month to pay your bills. There are lots of different apps and programs that can help you pull this monthly budget together, but a simple Excel or Google spreadsheet can work too.
The first thing to do is gather all your expenses from the previous month. These will be from one of the three categories:
Once you’ve gathered all those costs from the previous month, add them together. Then do it all again for two other months. This should give you three months of expenses to look at. Average them together – add them all up, and then divide by three – to get an estimate for your monthly household budget. This budget is all the money you need each month to live and maintain your current lifestyle.
Depending on the role Pure Romance plays in your life, your monthly budget can mean different things.
If you or your partner’s full-time job already covers your household expenses, then your Pure Romance income is purely “fun money,” and can be put into savings, used to pay off debt, or used for something exciting.
However, if the money you bring in from Pure Romance is meant to be your main source of your income, you need to plan accordingly so you can pay bills each month.
To plan, focus on the following to be able to achieve your monthly income goal:
By focusing your attention on these tasks, you can fill up your schedule and your contact list – which can lead to filling up your bank account.
Learning how to manage your money will help ensure financial success.
Now that you’ve set your overall financial goals, you’ll need to take the steps necessary to reach those goals, and financially succeed. One of those steps is consistently paying yourself out of your Pure Romance bank account.
Check out this video to learn the steps to take when paying yourself:
Once you’ve paid yourself, a portion of what’s left should stay in your business account to go back into your business – marketing materials, inventory purchases, thank you cards, etc. Depending on your financial situation, another portion could go towards your savings and/or retirement.
Since your income will likely fluctuate from month to month, it’s best to think of these investments as percentages, rather than hard numbers. If you plan to put 10% of your earnings into retirement, that can work whether your earnings that month end up being $100 or $10,000.
Note: Earnings vary widely depending on the effort Consultants devote to their business, their business experience, and other factors. View estimated average Consultant earnings data here: Income Disclosure Agreement
We strongly recommend you seek out a financial advisor. The right person can help you do all these things, advise you on the future, and help make sure you’re meeting your financial goals.
One of the ways to help ensure a successful business is to look for smart and cost-effective ways to maintain it. If you can keep costs low while growing your business – you’ve found the recipe for success.
Here are some smart ways to help grow your business, build your inventory, and get product to your customers, all while keeping expenses in mind.
There are two different types of discounts you may have on your Personal Website: a sale and a promo code offer.
Taking advantage of sales and promo codes can be a great way to boost traffic and orders on your site or entice previous customers to return. Sales are also a great time to consider buying items for Inventory.
Check out a few shareables you can send to your customers that are available on the PR Connect App, available on both Android and iPhone.
Carrying an inventory of products can be a great way to keep your business moving. Statistically, having products on hand can increase your party sales. If you build up your inventory by ordering products in bulk, you’ll save on shipping. Another great way to save while building your inventory is to look at products that are offered in 6-packs or in the sales category on your Online Office. These products are offered at a discount to you, but can still be sold to customers for their full retail price!
So where to start? Take a look at your consistent sellers, as well as what you choose to demo – those are always great products to have on hand. You can also check out our Top 25 list for inspiration.
If you’re going to start building inventory, we suggest aiming for around 1.5x your monthly sales. This will make sure you’ve got what you need to meet your regular demand, as well as a little extra so you’ve got room for those unexpected bookings or super successful nights.
Also check out: Inventory Booster
Depending on the size of your business, the inventory you carry might look different. Check out the examples below:
Once you start building, you’ll also need to start tracking. Take stock of all the products you have in inventory – along with the retail value of it all. Continue to update your tracking as you buy, sell, and gift (your hostess gifts and activity prizes). This will not only give you a good look at what products you move through quickly, but what you may also have sitting around, ready to be rotated back into that demo spotlight.
Pure Romance runs sales on a daily basis. Everything from shipping sales to better buying discounts and free items. As you build your inventory, find the sales that make the most sense for your business. Depending on your order size, these sales might come from your Personal Website or Online Office.
Check out our guide to Digital vs. Physical Inventory to find out which option is best for you.
If you don’t already have product on-hand at a party, or are hosting a virtual party, the product will need to be delivered to your customer. If an order goes through your personal website, Pure Romance ships directly to your customer. If you order everything from your Online Office, then delivery is up to you – just make sure it gets to your customers within 2 weeks of the party.
If you have a product in your inventory already and your customers are local, consider hand delivery or porch pick up – where the customer comes to you! It’s a great opportunity to follow up and touch base in-person to build a stronger connection with your customers.
If you’re going to ship the product to your customer, you have several options. Learn more about them here.
You get to choose how and when you work. Learning to manage your time early will help you focus on what’s important in the moment. The key is to work smarter, not harder!
Before learning about how to spend your time, it’s important to make sure you have clearly identified your goals. This will allow you to maximize your time working towards success. When considering your goals, make sure to set SMART goals.
Now you’re ready to identify how you currently spend your time and find ways to get more out of the time you have to reach your goals.
1. Track How You Spend Your Time
The best way to get in touch with your daily routine is to write it down. We tend to incorrectly estimate where we spend our time – in fact, you might think you spend more time being productive and less time on leisure activities than you really do. Understanding exactly how you spend your time and how you run your business helps you be more productive, thus saving you time and money. Follow the steps below to get started:
Write it Down
For one week, record how you spend your time – all of it! From the moment you wake up to the time you go to bed, log what you do. Use the Weekly Activity Tracker to begin the process.
What to Include
Throughout your day, write down how much time you’re spending on various activities. Include time spent on commuting, waiting for appointments, web-surfing, and other passive uses of time. There are 168 hours in a week, so your goal is to break down how you’re using them. Being efficient with your time will yield big results in your business.
2. Calculate Your “Free Time”
Spending time on the right things is critical for running a successful business. It can be challenging to focus on your core business while also fulfilling other obligations. But the good news is you probably have more time on your hands than you realize.
Add Up the Hours in a Week You are Booked Solid
Look at your Weekly Activity Tracker and determine how many hours you spend on the non-negotiables – the time when you really can’t be doing anything else:
Write down the total number of hours that you spend on these activities. For example, weekly activities could look like:
That all totals out to 144.5 hours of non-negotiable time each week.
Calculate How Much Time You Have Left Over
Subtract your total from 168 hours (24 hours per day, 7 days a week). This will give you the number of hours of free time that you have remaining to work on your business.
Using the above example, there would be 23.5 (168 -144.5) hours available per week to focus on business.
Write Down Your Number
You’re not going to spend all of that leftover time on your business, so have a number in mind that you will commit to partying, party planning, following up, building your team, or staying a student.
Pick a number that’s reasonable for you. For a medium-sized business, your time could look like this:
You’ll use the determined number in the next activity to prioritize your tasks and create a schedule.
3. Prioritize Your Tasks
You have your Pure Romance number: the number of hours you should spend each week on your business. So where should that time go? Time management is about creating a schedule framework, constantly prioritizing (and re-prioritizing), and assessing how much time you’re spending on activities.
Do a Brain Dump
The brain works in mysterious ways. Scientists determined that we only have a small amount of working memory, which is the memory that is responsible for holding and processing information. Most people can only juggle about 5-7 pieces of information at a time!
A brain dump is like making a grocery list for all the activities that you need to do. This includes daily errands, short-term projects, and your SMART goals.
Set aside 30 minutes of uninterrupted time to focus on getting everything that’s in your head on to paper. Use the Task Tracker worksheet to do a “brain dump” to get started.
Decide if it’s a Project or a Task
After completing your brain dump, identify if you listed larger projects rather than actionable tasks.
For example: plan a family vacation. This is a project rather than a task because it requires a lot of actions that can only be completed in a certain order over time.
The tasks for planning a family vacation might be:
Sort Tasks by Timeline
Your list of tasks can be sorted based on when you can complete them:
Some tasks must be completed in a certain sequence, so order them accordingly. Use the Task Tracker to estimate how long you think the tasks will take to complete. When estimating, don’t overanalyze – go with your instincts.
Highlight the Most Important Activities
Before you begin creating your schedule, go through your brain dump and highlight the most important activities so that you schedule them first. By breaking bigger projects into smaller tasks, you’ll know what you can do right away and schedule items that you can’t.
4. Create a Schedule and Stick to it
You’ve made your list and checked it twice. Now it’s time to block off time on your calendar.
Start with the number of hours you have available to work on your business, then decide how you want to spend those hours on a daily basis.
Let’s say, for your medium-sized business, you plan to work 20 hours per week. You could allocate those hours several ways:
Take your list of activities and schedule them just as if you were setting an appointment on your calendar. Then set a reminder so you’re notified when it’s time to complete that task.
Tips for Calendar Keeping:
Tackle your tasks and stay focused. Here are suggestions for eliminating distractions:
We all have the same number of hours in a day. Determining how to effectively spend each 24 hours is one of the most challenging parts of being a business owner. Master it, and there’s no goal you won’t be able to achieve.
The best thing about your Pure Romance business is that you can work it anywhere – at home, on the go, and everywhere in between. But giving yourself space to work is important when trying to manage your time. Your needs for this space will likely be influenced by the role you want Pure Romance to play in your life.
Most Consultants don’t initially have space for their business, so let’s create one! Here are some ideas on what you can do to make a space for your business:
Once you have ideas, have fun personalizing your space! Include anything that motivates and reminds you of your goals and dreams. Make it a place you want to spend time in!
Waiting in line at the bank or a doctor’s office, waiting for your lunch order or between classes – this is spare time where you could be sending out a message to a contact, or replying to an email about a party. Take those small moments of your day where nothing is happening and fill them with something that pushes you towards your goals.
For example, binge watching your favorite show? Make the most of your TV time by:
Being efficient with your time will guarantee productivity, so that you can get more done with less stress.
Looking for even more time management advice?
*Currently offered in the US, coming to other markets and in Spanish soon!
Any time you’ve swiped your credit card at a store, pressed the “Checkout” button in your online cart, or sent a friend money through an app—you’ve been using a point of sale (POS) system. The POS is the moment in shopping where the customer gives their money to the retailer. A POS System makes that interaction possible.
Pure Romance’s point of sale app – PureShop is here to make your business a smooth transaction.
Using a POS System – such as Pure Romance’s PureShop in your business is a crucial tool to help you streamline from your fingertips. With this system in place, you’ll be able to:
All of this information at your fingertips will allow you to better manage your sales, income, and inventory, and help you figure out the best times to follow up with your customers about their previous orders. The best part? PureShop is now included in our Inventory Booster, currently available for Consultants in the their first 30 days of business.
As a Pure Romance Consultant, you have an Online Office to help manage all your business needs. In your Online Office, you can place orders, control parties and invoices, track customer orders and history, manage contacts, run business reports, engage with your team, and get corporate support. This is the lifeline of your business. Explore all the options within your Online Office to run an efficient and profitable business.
Check out these quick hitting videos on how to navigate your Online Office:
With Pure Romance, you have a Personal Website already built and ready to share. Having your own Personal Website means your customers can shop with you 24/7. It can also serve as your shopping hub for parties. This access means it’s easier than ever to maintain your business. And the best part? All website orders are fulfilled and shipped by the corporate warehouse – and you’ll earn commission!
Do you have customers that continue to purchase the same product from you all the time? Your Personal Website offers two programs to help generate long term sales and increase customer interaction.
Subscribe for Deals – Subscribe for Deals gives you the opportunity to keep your favorite products coming at regular intervals of your choosing, shipped automatically to you with sweet perks and a totally flexible experience that puts the order controls in your hands.
For further information on how to utilize your Personal Website check out Digital Selling.
Pure Romance Pay has been designed to provide you with fast, convenient, and reliable access to your Pure Romance payouts. Get paid weekly and transfer money directly into your bank or PayPal accounts. Pure Romance Pay will cover all your Personal Website commissions and monthly bonuses.
Want to know how to get paid? Check out the Compensation Plan.
The Media Center is your one-stop shop for all your digital marketing needs!
With the Pure Romance Media Center, you can:
Best of all, your Media Center is free for the first 90 days, and after that it’s only $15 a month!
*Your membership gives you an unlimited number of contacts and up to 10,000 emails per week. If your business requires more than 10,000 emails per week, please contact the Support Team for additional options.
Our Support Portal is always available, with plenty of articles, tutorials, and FAQs that will help answer any questions you might have. If you can’t find what you’re looking for, feel free to reach out to our Support Team directly, and provide as many details as you can: 1-866-ROMANCE.
Even if you’re in business for yourself, you’re never in business by yourself! Pure Romance has created consultantships with several companies that can help you save money while making the most of your business.
Pure Romance Media Center
The Pure Romance Media Center is an exclusive online marketing system for Pure Romance. With Media Center, you can send out Pure Romance branded online party invitations, sale emails, newsletters, and more!
We recommend that all our Pure Romance Consultants identify themselves with a customized name tag, car decals, and more! Thanks to our business consultantship with JT Productions, you have a beautiful, affordable way to promote yourself with marketing items that come in a variety of colors and styles!
To help you promote your business everywhere you go, we’re created the PR Gear store. There, you can purchase clothing, accessories, promotional items, and special hostess gifts. PR Gear has a wide variety of items from shirts to hats, to mugs, and bags – all designed to get your name out there without you having to say a thing!
Pure Romance has partnered with Vistaprint Corporate Solutions to create a customized ProShop for Consultants to order branded, personalized print materials featuring corporate-approved designs! The site includes over 150 designs, including car magnets, yard signs, customizable thank-you cards, and business cards – all available in English and Spanish.
To help you with your office supply needs, we’ve partnered with Office Depot to give you some fantastic, exclusive discounts when you use your Pure Romance Retail Connect Card to keep your business organized and thriving.
With Square, you can accept all major debit and credit cards, so you never miss a payment. Square has all the tools you need to start, run, and grow your business.
Pure Income Tax
Wish you had a tool to make your tax season as easy as one, two, three? Pure Income Tax is an online resource that is here to help simplify your Pure Romance business taxes for a budget friendly price!
We are proud to offer our Consultants an easy way to enroll for individual Health Coverage. Learn how to enroll today!
As a Pure Romance business owner, it’s your responsibility to file your income taxes each year. As long as you stay organized and accurate, filing should be a breeze.
Below, we’ve gathered some resources and advice to help your tax season go smoothly.
One of the most important things when it comes to taxes is organization. You need to keep track of all the money that goes into and out of your business to properly file and make tax season stress free. The good news is, if you’re using a point of sale system, you should already have a record of all your sales. Combine that with some accounting software, like QuickBooks or FreshBooks, that lets you easily record your business expenses and other costs, and you should have all the information you need at your fingertips.
Always make sure to keep track of:
If you prefer to keep paper records, consider purchasing an accordion folder to keep all your receipts and business documents. And the first receipt you should keep is for the folder itself – you can write it off as a business expense!
Taxes don’t have to be a pain! Pure Income Tax is a program that helps Pure Romance Consultants streamline the filing of their taxes. John Bolger, a tax specialist who has been with Pure Romance for 30 years, created this program to integrate with your Online Office and make tax prep as easy as possible. This program walks you through how to process all other income and expenses associated with your Pure Romance business. It helps you to complete your Schedule C based on the current tax laws to avoid any complications. Pure Income Tax will save you time and money – eliminating confusion and ensuring you never overpay on your taxes again!
This is a custom-built program for Pure Romance Consultants that we highly recommend!
Maybe the best piece of advice we can give would be to consider talking to a Certified Public Accountant (CPA). They can help you get organized, tell you the things you need to track and save, and make sure everything is buttoned up before filing.
United States of America
Because Pure Romance Consultants are considered independent contractors and not employees, you will not receive a W-2 form. Instead, you may receive a 1099.
Pure Romance is required by federal law to send you a 1099 form if:
1099 forms will be mailed to eligible Consultants no later than January 31st each year.
Consultants must report income or loss to the federal government regardless of whether Pure Romance issues any forms, including Form 1099.
Pure Romance cannot supply a breakdown of profits for the year.
For more information on your 1099, refer to the Incentive Requirements Guide on the Online Office.
Pure Romance will provide Informative Return.
Pure Romance will provide you with a T4A form.
Australia & New Zealand
In Australia and New Zealand, no formal documentation is provided.
IRS Form Links
The following forms are associated with being self-employed. Click the links below to download and find more information about each one:
Sales tax is charged each time products are purchased from Pure Romance – whether that purchase is through the Online Office by you, or by your customers through your Personal Website. Pure Romance then submits the required sales tax to each individual state on your behalf. This simplifies and eliminates many of the forms and licenses you would otherwise have to acquire as a business owner.
However, when selling directly to a customer from your inventory, sales tax still needs to be accounted for. Since you paid sales tax when purchasing through the Online Office, you will need to charge the customer that tax as well – but never more than allowable in the tax district where you are selling.
Before we dive into an example, note that a POS System or “My Parties” on your Online Office can help handle this process. But knowing the innerworkings of sales tax is important, even if you aren’t calculating it yourself. This way, you can answer any questions your customers may have when it comes time to pay for their products.
Let’s say you order product through your Online Office and have it shipped to your home to be put into your inventory. Where your home is located will have a specific sales tax – let’s say it’s 6%.
On Saturday, you have a party in a neighboring state or city, where the sales tax is 7%. You can ONLY charge 6% sales tax on your party sales, since that’s what you paid originally.
If those percentages were reversed, and you paid 7% sales tax, and the party is in a 6% sales tax area, you can only charge 6%, since that is what is the maximum allowable in that tax district.
Bottom Line: no matter what you paid in sales tax in your initial order, and no matter where you are selling or shipping to – you must charge the customer the lower amount of sales tax.
As sales tax can vary by state (and sometimes even by city), we’ve put together an article about how to calculate sales tax.