So, want to start your own business?

Well, for starters, here are some things you need to first consider:

1.  Do you have a written business plan? Have you selected an appropriate business name?
2.  Is there a market for your products or service - at a price point that will allow you to be profitable?
3.  Do you have access to sufficient financial resources to start and sustain the business realizing that it might take some time before it become profitable?
4.  Have you done your homework as to what is the best business entity type to operate under? You have discussed it with an attorney and CPA, right?
5.  Do you have all the necessary insurances in place?
6.  How will you do your bookkeeping for the business? Very important that you get this all setup right from the beginning. Consider using QuickBooks.

Remember, success favors the well prepared when it comes to starting your own business. You can check out more business planning ideas here.

Lester R. Bahr, CPA