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.