Starting a business can be a risky venture. Success is dependent upon a number of factors such as the demand for the product or service, general economy and YOU! Starting your own business may initially sound exciting. Your mind swirls with thoughts of setting your own hours, being your own boss and, of course, reaping huge profits. Unfortunately, the desire and vision of Entrepreneurship often fails to match reality. Whether you’re considering starting a business, or have already taken a leap of faith and jumped right in, the fact remains that starting and running a business can be intimidating and scary. Are you prepared to work long hours and live without a vacation for two-five years? What steps are necessary? What questions should be asked? How much money will be needed? New business budgets are usually limited and first time business owners often take on the responsibility of tackling every aspect of the business from sales to management. The result can be overwhelming, detrimental and expensive. Starting a business is a big decision, one that requires planning, research and dedication. Seeking expert advice BEFORE hanging the proverbial Open For Business sign, can help prevent many critical and costly mistakes. It is a good idea for a start-up businesses to consider hiring qualified, independent professionals to provide the necessary services. In the beginning it may not be feasible to hire permanent employees for these positions; however, there are many good independent businesses that can help fill the gap. Advertising/Marketing Specialist A professional advertising and marketing specialist will develop a marketing strategy that incorporates a variety of methods based on the products/services offered, target audience and geographic area. This is not an area to pinch pennies. Getting the word out about your business is vital for success. Business Attorney A Business Attorney provides guidance, ensures that you and your business interests and transactions are protected, creates company specific contracts, ensures that your business has all of the necessary licenses and serves as legal representation. CPA/Accountant A Certified Public Accountant can provide a variety of services such as: Business Plan Development, Business Structure Determination (i.e. sole proprietorship, LLC, Corporation, or Partnership), Tax Planning, Detailed Financial/Cash Flow Analysis, End of Year Reporting, Employee Tax Classification, W-2’s, 1099’s, Bookkeeping and more. IT/Computer Specialist An IT/Computer Specialist can help with everything from website design and maintenance to updates and troubleshooting. A business cannot afford for computer systems to go down, or have their systems compromised by a data breach. Human Resource Consultant An Independent Human Resource Consultant serves as a Human Resource Department for businesses who do not have an HR professional on staff. A new business cannot afford mistakes in this area. The road to ENTREPRENEURSHIP is rough, the nights are long and the words “I Quit” will become a mantra of sorts. It is important to understand that patience is required, along with remembering WHY you started a business in the first place. Keep moving forward, persevere through the tough times, NEVER give up and you WILL succeed!
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