Opening your own business is exciting and thrilling. It’s a bonafide dream come true! It is the culmination of years of dreaming, pre-planning, and planning, plus months (or more) of preparing, extensive marketing to let everyone know about your upcoming launch, and finally, your big opening day!
Of course, as you probably know, while it may be the highlight of your journey so far, it’s really just the beginning of your new venture. With that said, we at Straight Talk CPAs want you to consider that, when you’ve done the prep work correctly, your business will run more smoothly since it will be set up the right way and will be better prepared to weather whatever challenges you may encounter.
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. We believe that success lies in the approach you choose to take. Our professional financial planning services help you avoid the common pitfalls that many new small business owners make when starting their new venture.
When the idea for your new business first came to you, it was a mere seed. As you took that first step towards turning your idea into your reality, and then the next step, and the ones after that, you began to see the complexity of it all. You began to experience firsthand everything that’s involved in bringing a new business to fruition. And you may have felt overwhelmed at times by how involved that process really is. Options are virtually endless! How do you choose?
Planning and preparation truly are keys to setting up your business in the best way possible. Here’s some of what you need to consider as you go about with your new business formation:
- Operating within the laws of your state
- Reducing your tax burden
- Protecting your personal finances
- Following regulations for your specific industry
- Figuring out cash flow projections
- Determining what employee benefits (if any) you’ll provide
- Analyzing your business’ insurance needs
- And much, much more!
If you have a business background, some of these tasks may come naturally for you. But if business is not what you studied in school, then these will be difficult to even get started on.
Bringing aboard someone with the right business and tax expertise will ensure that your new business formation will be handled correctly, which means you’ll be able to run with your ideas from the start in an enterprise that was set up to enable you to soar!
We at Straight Talk CPAs can’t emphasize enough how involved it is to launch a business. We also want to stress the importance of launching it correctly so that your errors don’t come back to haunt you. There’s nothing more heartbreaking than having a great idea but having to shut down because of poor business planning. This is why you need to have specialists by your side.
From preparing an initial business plan to clarifying your marketing, management, and financial plans, and all the way to developing a solid Partnership Agreement – we’ve got you covered!
Take advantage of our 30 Minute FREE Strategy Session offer today!