Monday, December 19, 2011

Starting a business

Can’t find a job—start a business and pay yourself.

Sounds simple…

The biz gurus Dale Dauten and JT O’Donnell briefly kicked this one around.

First, they basically say this is a long shot—most small businesses fail.

O’Donnell says take advantage of EVERY free resource you can find—SCORE (retired execs who will advise), Small Business Admin, local offices.

Count on needing four times the money you think you will and twice the time you think it will take.

Don’t incorporate right away—would be my advice. Many fairly large businesses are Sole Proprietor.

A small business is not about you, the name you pick, the cards, the flyers—it’s about your customer.

Always think of that. The value!

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