How To Get Started In Your Business

Let's face it, starting your own business is no small task. People think that having their own business will make them rich and in control. By contrast, owning your own business is harder than you have. An entrepreneur must be able to use all the hats of the company, including taking out the trash and answer the phone. Being autonomous is the dedication and desire to succeed. If you think you can get investors to give him tons of money and I think you just hire people to run your business for you, you are sadly mistaken.

Money

Most business owners start with little or no money. You may be able to get a loan or investors, but be very careful when using someone else's money. A typical bank loan is the safest way for your business up and running, but be prepared to put a security such as your car or even your home. I could get a loan of $ 10,000 to buy my computer and use the equipment as collateral against the loan. Now let's talk about investors.

Every time you give away money, be prepared for someone else wants to be responsible. Remember that you are using your money to begin with, and investors hoped that a part of the company through ownership and / or control. Make sure it is incorporated here. Never start an association, especially when a foreign investor involved. Note that it is a good idea to have a business plan before considering to raise money from investors or the bank. Let's say you have all the money you need and you're ready to begin. You should first start a business plan and determine your goals for the next 3 to 5 years. Include the money it costs, including employees, insurance, rent, etc. .. Be sure to include all your business objectives and the amount of money you expect to do and how you're going to do. A business plan is a good way to have their goals set in front of you and help make your business more successful.

Corporation or sole proprietorship

Once you have determined what you do, you must decide whether to make your business into a company or a company. If your business has more than you as an owner, my suggestion is that it incorporates. If you are incorporated - you can better protect themselves from other partners, taxes and litigation. Check with your CPA and attorney for the company to determine the best type of company for you and your partners. A sole proprietorship is the simplest way to operate a business. You pay less tax and have no business problems. It is also the least regulated business, but is at highest risk. For example, if you are a sole proprietorship, you are personally liable for all debts and damages caused by lawsuits. If someone you claim and win, they could have their personal wealth. If you are incorporated, there are laws to protect companies that as the owner and the shareholders of your company. Be careful when deciding which direction to go. I started as a sole owner, but I wanted to see if it would succeed before the money spent to get incorporated. Watch at your own risk and always consult a professional before attempting the CPA to decide which path to follow for your business.

Choosing a business name

As for a name, you have to think about what will capture the attention of people. Try not to use his name. The reasoning behind this is if the business fails, your name might happen to him. Also, the name conveys what you do. Be creative with your name, so at first glance, that catches people's attention and lets them know immediately what your business does.

Getting a DBA

When you have decided on a name, go to your County Clerk's office and check if your name is drawn. Note that is only to verify the records of his county for the same name. If your name is being used in your county, and then be willing to choose another name. When you are sure that your name is available, then you're ready to get a DBA (doing business as - "fictitious name" - If you are getting built, you should consult with his lawyer for the company before getting a DBA, you may not need to make this process). When you're in County clerks, you can sign up for a number of state taxes and federal identification number (EIN). If you are running as a sole proprietor, then you can use your Social Security number rather than asking a federal identification number. I recommend that you apply for a federal identification number (EIN) so that your Social Security number is not open to those with whom you are doing business.

Location

A good place for a graphic designer is not the same as what can be considered a retail location. A warehouse retail location opposite needs visibility to promote their products. If you have the opportunity and cash flow to open a very visible, then I suggest you go for it. For most graphic designers who work outside the home was the most economical and most feasible way of doing business. If you operate outside of your home, you can claim part of your rent / mortgage, utilities and taxes on your phone (consult your CPA). The biggest disadvantage of working outside the home is to have customers scale. Most often, I meet my clients at restaurants or go to its location, this is the easiest way to conduct my business.

Continue working

Starting in business occupies much of his time and money. If you plan to go full speed with your business, then you must make sure that there is a lot of money stored away in savings to support you. My suggestion is to continue to work full time and after hours of independent work and on weekends. Many people say they do not have time to do so. Well, I say if you do not have time to do this to begin with, then you will not have time to start your own business. Having your own business takes dedication and many hours of hard work. You will be put in twice the time than in their normal work. This is why I suggest to start slow and build your customer base. Then determine if you like what you are doing and who knows, you might land a big client that allows you to stop working full time.

The success of the holder is a successful company!

Do not be afraid to jump to owning your own business. Keeping a clear head and make smart decisions. Be careful with trading partners and try to do the same on your own as you can. Having business partners and outside parties involved in your company can cause many problems. I lost thousands of dollars by relying on poor trading partners. Keep things simple and easy to manage. Do not start trying to be the big dog in the city, work in the dog is the smartest - which always wins.

Author: Jason Vaughn / Published and Edited by Bharat Bista

References: Dallas Graphic Design - Dallas Web Design - Dallas Web Design

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