Starting a Business?

Starting a Business?

 “Some nontraditional things to think about before you start your business”

With the economy in the tank and social security being more social than secure. People are turning to business start-ups. I am a big proponent of starting a business but there are some things one might want to consider before you start down the road of business ownership. What are some of the things to think about before you should start a business?

• How do you manage your personal finances?
• Is there a plan with how you handle the household?
• Are there many unfinished projects in your home?
•  Is your house hold operating with its optimal efficiency
• How do you handle your personal taxes?

You may be asking yourself why he is asking questions about the house hold when the topic is about business start up.

The answer is simple, most business start ups are ran in the same manner as the household is ran.

So what I’m I trying to say?

• If you have horrible money management skills on the personal side then you will have horrible money management skills on the Business start up side
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• If you do not have, a plan on how the household is ran than more than likely the business start up will have a less than stellar business plan.
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• If there are many unfinished projects around the home then the likely hood of a start up business having any longevity are slim.
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• If your household is not operating optimally then your start up business will not run optimally.
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• If you let a non professional prepare your personal taxes then you will do the same for your business. (and that’s not good).

This is an observation based on my experience as a tax prepare and business consultant.

There will always be exceptions but, for the most part it is very difficult to run a business start up if you cannot effectively run your home.  Ger your home situation fixed before you start your business.