Thinking of owning your own business?
Opening your own business is exciting and thrilling. It's
everything that comes after the excitement and thrill has 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
or goal of being your own boss and running a successful business. Success lies
in the approach you choose to take. We help you avoid the common pitfalls that
many new small business owners make when starting their new venture.
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.
- Setup a
home office so you can maximize your tax deductions.
- Prepare
and file all required state and local licenses and permits.
- Prepare
and file your application for your Federal Employer Identification Number.
- Provide
payroll and payroll tax filing when you bring on your first employee.
- Comply
with employment laws so you don't get hit with fines and unhappy
employees.
- 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 down the road.
Let us help you
succeed by getting your new business off to a good strong start.
