Starting A New Business? 3 Things You Should Know

Starting a new business can be an exciting new venture. Taking control of your life through entrepreneur is one of the best feelings an individual can have but it is nerve-racking because you don't know what steps to take next. A lot of people do not do this because of the risk of uncertainty. There are many important things you should know before taking this jump but I'm going to give you 3 important things to run a

Do not go overboard and over-spend to start

When starting business startups or as beginning small business owners, we can sometime think that we need the biggest and baddest products and services to start. This is so far from the truth but so many of us make that mistake. It is one of the biggest myths known to business owners of today. Regardless of the business that you are starting, utilize the resources that you have. Make the best of everything in possession before trying to go out and purchase something new.

Goal-Setting and Planning

I am a big advocate of taking advantage of unexpected opportunities. Everything cannot be planned. UNFORTUNATELY, your business cannot survive and you will not be successful if you only make last minute and sudden decisions. Figure out how much you have to make in order to leave your 9-5 job, or to be successful in your terms. After you know your goal, you can carefully plan out everything else. Make a business plan with a 3-5 year plan so you can plan your success ahead of time. Your success shouldn't come by surprise! You've already planned it:)

Make A Suitable Business Name

 

Goal planning will help you with making a good business name because it will show you the direction that you are going in and your target audience. When you know these things, it makes it easier to create your name. From here you can decide on whether you want to make your business under an LLC, an S-Corp, and maybe you just want to be a sole proprietor. There are many options you can choose when it comes to officially formulating your name. Feel free to contact me for more information on this in particular. I have a few LLCs myself. 

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