First there are legalconsiderations... What legal issues will I face? Type of legal business
entity... why... What is best? What kind of local, county, state and federal
regulations will apply? So my first step... would be to have a discussion with
a qualified attorney. Not the last time but just the first time.
Next, I would consider thefinancial funding of the business. Before you approach a financial institution
you need to have a "Business Plan", which is really a marketing task
to go about planning your goals, objectives, strategies, time schedules, plans,
implementation schedules, costs, sales, and all the functions and ramifications
of the business during the first one, three and five years of operation if
possible. The more that you can estimate and project, the better off you will
be. So now let's say that you have completed your "Business Plan".
Did you have the marketing background, expertise and tools to accomplish this?
Or did you need some professional assistance or tools to help you? We know that
the latter is much preferred.
Now, we have our businessplan, let's begin interviewing banks and lending sources to determine what
funding is available, at what costs, and on what terms
IT Consulting. Let's say that you come up with several options thatappear attractive. Would it be helpful for you to have a CPA or Accountant with
Tax Qualifications to assist you in evaluating the best funding program? Yes,
most likely.
Now you are ready todetermine the location of your business, which will raise real estate
questions, tax questions, contractual and legal questions, and financial cost
considerations... as a beginning. Where you decide to locate your business will
also determine your local and county licensing requirements.
Wonderful... now we have a great location to work... ITConsulting and we need competentemployees who would help this business be successful. Now you need to put on
your Human Resources hat, get out all the government regulations that apply,
develop a mandatory HR Handbook for your business, and begin interviewing...
for the anticipated business functions that we planned for our business.
For a beginning businesswhich serves the public your initial functions will consist of an office and
business that will provide for Management, Sales, Service,Storage, Reception
Area and Conference Room. In reality, in order to effectively operate and
manage this business you will also need a Legal Department, Marketing
Department, Tax and Accounting Department, Collections Department, Human
Resources Department, Technology Department, Management Department and
Advertising Department. Realistically you will need to perform all of the above
functions of a major corporation that has been in business for many years and
has considerable resources.
The reality is that foryour start-up small business as the owner you may be performing all of the
above functions by yourself..personally... for an extended length of time until
business volume or funding of the business allows all of these functions to
exist and operate. This is a classic example of "I did this myself".
So how does a smallbusiness maximize access and utilization of professionals to give advice on how
to accomplish all of these activities efficiently and profitably? Is it
possible? Yes, it is... however not too many small businesses know the secrets
of doing so. That is the purpose of this document... to acquaint those who are
interested with tools, techniques and resources that are vital but difficult to
learn about.
