Thinking of Owning Your Own Business?
Opening your own business is exciting and thrilling. It’s everything that comes after the excitement and thrills have worn off that dictates whether a small business will make it or not. It’s up to you to maintain and stretch out the “thrill and excitement” period forever.
A methodical plan of action is needed to fulfill your dream of owning your own business and running a successful business. Success lies in the approach you choose to take. Starting the right way, taking the right steps, and making the right decisions are crucial.
We Help You…
- Prepare an initial business plan to clarify your marketing, management, and financial plans.
- Determine your start-up capital needs.
- Identify sources of start-up capital and backup sources if needed.
- Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
- Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation, and portability should you need to relocate.
- Select the right accounting software by evaluating your budget, needs, and hardware.
- Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
- Establish billing and collection procedures to maximize your cash flow.
- Establish procedures to monitor and control costs.
- Prepare and file all required start-up documentation, including Federal Employer Identification Number.
- Thoroughly review your rent or lease agreement.
- Identify your business insurance needs.
- Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems for you and your partners.
Let us help you succeed by getting your new business off to a strong start. Please complete the form below and bring it to your New Business Formation meeting.