Tuesday, June 14, 2011

Some Basic things you can do to Start a Business

1.) Decide whether you should form an llc, inc, or simply operate a sole proprietorship.

2.) After you figure out step 1 and form you business, open a business bank account. It's definitely a good idea to completely separate your business from personal accounts for tax time.

3.) Look into getting liability insurance for your type of business. You never know, someone might sue you if you make a mistake.

4.) Find good bookkeeping software and keep track of your business income and expenses. Be sure to keep all reciepts organized for the end of the year. You will need your reciepts if you get audited.

5.) Come up with a marketing plan. How are you going to get new customers? Post fliers, newspaper ads, postcards, etc? Create an acceptable budget and stay consistent even if at first you don't get any customers.

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