NS 499
Who do you need on your team? Where will you obtain financing? What other business start-up decisions need to be made?
Don’t expect to know everything yourself! Assess your strengths and weaknesses. What kind of help do you need?
Know what you need and what you don’t know Ask questions Advice is rarely free
Local resources: SCORE (Service Corps of Retired Executives) Small Business Association (SBA) Chamber of Commerce Community colleges Internet
Record Keeping essential to document cost effectiveness of programs and/or services Start up costs vary, depending upon nature of your business Start small and build from there
Personal savings Bank loans SBA Gifts from relatives and friends Credit cards Angel investors
What do bankers look for? Business Plan Who you are Scope and purpose of your business Current financials Purpose of the loan Repayment plan and terms
Detailed record keeping essential Develop payment requirements for clients Accepting credit cards Online payments: PayPal Billing Accepting insurance
Importance of records Research do-it-yourself software Quicken for Business Peachtree QuickBooks Pro Do you need a bookkeeper?
Self employed pay Federal taxes quarterly State tax payments vary Research possible tax deductions
Home office? Rental space? Shared arrangement? Home visits? Internet business options Keep overhead as low as possible
Malpractice Liability—home or office Health Disability Life
Logo Tag Line Stationary/Letterhead Business cards Brochures Educational Materials Others?
Scale Calipers Computer Fax Printer Copier Phone/Answering service Others?
What will your budget allow? Time?? Money??