Improving your odds for starting a business
I can't tell you how many times people I've met will comment on how "it must be nice" to own a business. The funny thing is, I reciprocate with letting them know that it's important to have a business of your own just to have a back up plan if they suddenly find themselves displaced (i.e. let go).
So, how do you increase your odds for starting a business? First, try to find something which you like to do and that has people who want that product or service. Second, plan out what is the minimum it will take to launch. Third, make sure to avoid taking money out of the business so you can build working capital. Fourth, create a budget so you will know how many customers you need and the associated costs in order to generate a profit. Five, stop letting time pass and get going. Oh, most important is location, location, location for your business.
I am a CPA in San Antonio and provide bookkeeping, payroll, taxes and more. We offer a free initial visit and look forward to serving your business needs.
Richard J. Garcia | 10/10/2010