#1 Dream Big for your Business
This is the fun part so let your imagination go wild. Using a poster board (this can be found at the local dollar store) post pictures of your ultimate ideas of success. You can cut out the photos or phrases from magazines, online articles, etc. Use your minds eye to conjure images of the look and feel of your established business. What will your clientele look like, what will you look like, your facility, staff, product or services, etc. Place this board in a place that you will see it daily. Feel free to add and subtract as your grand opening approaches.
#2 The all important Business Plan
Writing a business plan is a vital part to the success of any business. This plan will keep you on track when all else seems to be going in directions other than what you'd anticipated. Using your public library and the internet you are bound to be inundated with examples of business plans which may lead to confusion. Fear not, confusion is simply a part of entrepreneurship. Let your tax dollars work for you and contact your local Small Business Administration office (SBA. www.sba.gov). This organization has free and low cost workshops available to give you hands on assistance with writing your business plan, marketing, financing, and much more
#3 A business mentor
When it comes to all the details that are specific to your needs it would be wise to have a mentor who is solely focused on your business. The Service Corp of Retired Executives (SCORE www.score.org) is an amazing resource available to all. The individuals in this organization are retired and provide free business counseling on a wealth of topics. In order to help direct you to the appropriate counselor you will be asked a few questions about your area of need. There is no limit to the amount of mentoring available and no time line. SCORE also has online counseling and workshops to help fit your needs.
#4 Taxes and your business
This is the fun part so let your imagination go wild. Using a poster board (this can be found at the local dollar store) post pictures of your ultimate ideas of success. You can cut out the photos or phrases from magazines, online articles, etc. Use your minds eye to conjure images of the look and feel of your established business. What will your clientele look like, what will you look like, your facility, staff, product or services, etc. Place this board in a place that you will see it daily. Feel free to add and subtract as your grand opening approaches.
#2 The all important Business Plan
Writing a business plan is a vital part to the success of any business. This plan will keep you on track when all else seems to be going in directions other than what you'd anticipated. Using your public library and the internet you are bound to be inundated with examples of business plans which may lead to confusion. Fear not, confusion is simply a part of entrepreneurship. Let your tax dollars work for you and contact your local Small Business Administration office (SBA. www.sba.gov). This organization has free and low cost workshops available to give you hands on assistance with writing your business plan, marketing, financing, and much more
#3 A business mentor
When it comes to all the details that are specific to your needs it would be wise to have a mentor who is solely focused on your business. The Service Corp of Retired Executives (SCORE www.score.org) is an amazing resource available to all. The individuals in this organization are retired and provide free business counseling on a wealth of topics. In order to help direct you to the appropriate counselor you will be asked a few questions about your area of need. There is no limit to the amount of mentoring available and no time line. SCORE also has online counseling and workshops to help fit your needs.
#4 Taxes and your business
Comments
Great article! I only thought of one thing that might be helpful...advising readers about the pros and cons of a sole proprietorship over incorporating. I chose sole proprietorship both times I owned my own company, even though a corporation would have afforded me limited legal liability. I just couldn't accept double taxation if I went that route!
Great article! Very informative and useful information!
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