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5 Tips to Starting Your Own Business

posted Jan 22, 2013, 3:52 PM by Bryan Gianesin   [ updated Jan 22, 2013, 3:56 PM ]

If you are thinking of a career change, find yourself unemployed, or have a friend or family member who wants to start a business with you, the following article from About.com may serve you well. Once you have completed these tasks, consult with a knowledgeable business attorney, like the Gianesin Law Firm, Bryan Gianesin, Attorney, about the proper legal steps to take to start or buy a business. In my experience nearly 75% of all problems and disputes among co-owners arise because they failed to address important issues at the early stage of the business. Here is a summary of the pointers plus a few from my own experience:

  • Take your time. If you find out you are going to be unemployed, it is okay to take some time before you start your new job.
  • Assess your skills and experience. If you want to stay in the same line of work, you will be up and running quicker. A new venture that requires a new set of skills requires a longer start up time.
  • Evaluate your Industry. You need to know as much as you can before you get started.
  • Check the Bank Account. Make sure you have enough money to last 6 to 12 months.
  • Develop A Timeline. It does not take long to set a realistic timeline and figure out when things should be accomplished.
  • Surround yourself with trusted advisers, business consultants, mentors from the industry, and legal and tax professionals.
  • Before starting, gets as much input from people with experience in the industry as possible.

If you want to read more about this topic, request a free copy of the 7 Huge Mistakes Business Owners Make. Email me at Bryan@GianesinLaw.com.