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...
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Prepare an initial business plan to clarify your marketing,
management, and financial plans.
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Determine your start-up capital needs.
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Identify sources of start-up capital and backup sources
if needed.
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Evaluate and quantify your borrowing power so you
know how much money you can get your hands on if needed.
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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.
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Select the right accounting software by evaluating
your budget, needs and hardware.
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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.
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Establish billing and collection procedures to maximize
your cash flow.
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Establish procedures to monitor and control costs.
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Setup a home office so you can maximize your tax deductions.
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Prepare and file all required state and local licenses
and permits.
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Prepare and file your application for your Federal
Employer Identification Number.
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Provide payroll and payroll tax filing when you bring
on your first employee.
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Comply with employment laws so you don't get hit with
fines and unhappy employees.
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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.
Let us help you succeed by getting your new business off
to a good strong start. Please contact us.
