LEARN DEVELOP LIVE
Menu
Picture

Things to consider when starting your own Business

7/7/2022

0 Comments

 
Picture
Image credit: Unknown
There are so many things to think about when starting your own business. From the initial planning stages to the day-to-day tasks of running the company, it can be challenging to know where to start! This blog post will outline the key things you need to consider when starting your own business. Keep these in mind as you move forward with your plans, and you will be on the right track to success!

Think about why you want to start your own Business
There are many reasons why people want to start their businesses. Maybe you're sick of working for someone else and want to be your boss. Perhaps you have a great business idea that you think will be successful. Whatever your reasons are, it's essential to think about them before you take the plunge into
entrepreneurship.


What are your skills and strengths?
One of the first things you should consider when starting your own business is what skills and strengths you bring to the table. What can you do better than anyone else? What do you enjoy doing? Answering these questions honestly will help you choose a business that best fits you and your talents.

Do you have a Business plan?
The next thing you should consider is whether or not you have a business plan. A business plan is essential for any successful business, so if you don't have one, now is the time to create one. Many resources are available to help you create a business plan, so take advantage of them.

Don't forget the details that go Into starting a Business
You've got the commercial space leased, the build-out almost complete, and now it's time to open your doors for business. But before you do, make sure you have all of your ducks in a row by considering these five critical factors:

Commercial Bonding
If your business is working with other companies or contractors, many will require that you obtain a commercial bond. This guarantees that you will fulfill the terms of your contract and protects them from any financial loss if you don't. 

Permits and Licenses 
You must obtain the proper permits and licenses before opening for business. The type of permit and license you need will depend on the type of business you're starting. For example, if you're opening a restaurant, you'll need a food service license and any building permits required to renovate.~

Employees 
If you're going to have employees, there are a few things you need to do before they can start work. First, you must obtain an Employer Identification Number (EIN) from the IRS, set up payroll and withholdings, and get workers' compensation and unemployment insurance.

Insurance
You will also need business insurance to protect your company from liability claims. The type of insurance you need will depend on the type of business you're running. For example, if you have a retail store, you'll need commercial property insurance in case of theft or damage to your inventory.

Taxes 
Last but not least, don't forget about taxes! Register your business with the IRS and obtain a tax identification number. You will also need to file quarterly estimated tax payments and an annual return.

By taking the time to consider all of these factors before you open your doors, you can be sure that your business is off to a solid start.
0 Comments



Leave a Reply.

    Author - chris 

    Author, Editor, Creator of this website.

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    August 2018

    Categories

    All
    Academics
    Accountant
    Advert
    Advertising
    Agricultural
    AI
    AirHelp
    American Image Displays
    Amy Cuddy
    Andrew Barnes
    Armpit
    Attitude
    B2B
    BBC News
    BBC Worklife
    Belfor Holdings
    Boosting
    Boss
    Branding
    Bus
    Business
    Business Insider
    Candidate
    Career
    Careers
    Careers Advice
    Cars
    Catering
    CEO
    Chris
    Chris Guillebeau
    Chris Jaggs
    Christmas
    Chrysler
    CNN
    CNN Business
    Coach
    Coaching
    Coach Magazine
    College
    Communication
    Commute
    Company
    Competition
    Complaining
    Computing
    Construction
    Coronavirus
    Corporate Events
    Courses
    Covid 19
    Covid-19
    Coworkers
    Creativity
    Customers
    CV
    Cyber Security
    Data
    Dave
    Delivery
    Dentist
    Deodorant
    Dispute
    DIY
    Dream
    Drivers
    Dropshipping
    ECommerce
    Electrician
    Email
    Emergency
    Employees
    Employer
    Energy
    Entrepreneur
    Entrepreneur Europe
    Entrepreneurial
    Environment
    Equipment
    Estate Agent
    Exhibitions
    Fast Company
    Finance
    Fit
    Fitness
    Flexible
    Focus
    Focxu
    Football
    Forbes
    Ford
    Fortnite
    Franchise
    Freelance
    Freelancer
    Furniture
    Gamers
    Gamers Academy
    Gaming
    Genuine
    Goals
    Google
    Growth Mindset
    Habits
    Happiness
    Happy
    Hard Work
    Harvard
    Harvard Business Review
    Health
    Healthcare
    Healthy
    Home Working
    HR & Payroll Systems
    Hustle
    Inc
    Inc.com
    Influence
    Information
    Inspiration
    Inspirational
    Inspire
    Inspired
    Inspiring
    Instagram
    Insurance
    International
    Interview
    Interviews
    Investing
    IQ
    IT Services
    Jaggs
    Japan
    Job
    Job Hunt
    Joe.co.uk
    Johnny Quach
    LDL
    Leadership
    Learn Develop Live
    Learning
    Lee Iacocca
    Lessons
    Life
    LinkedIN
    Logistics
    Man Management
    Man-management
    Manufacturing
    Marketing
    Medical
    Mental
    Mental Health
    Microsoft
    Mind
    Mindset
    Monday
    Money
    Motivate
    Motivated
    Motivating
    Motivation
    Motivational
    Motivator
    Music
    Myfitnesspal.com
    Negotiate
    Networking
    Office
    Online
    Organisation
    Outsourcing
    Overseas
    Packaging
    Pay Rise
    People
    Performance
    Personal Development
    Pjs
    Politicians
    Positive
    Positivity
    Procurement
    Product
    Productive
    Productivity
    Project
    Property
    Pyjamas
    Quartz
    Recruitment
    Reed
    Reed.co.uk
    Relationships
    Remote Working
    Resolutions
    Restaurant
    Retail
    Risk
    Robert Half
    Safety
    Sales
    School
    Security
    SEO
    Sheldon Yellen
    Shop
    Signage
    Skills
    Sky News
    Sky Sports
    Sleep
    Soccer
    Social Media
    Software
    Spacehuntr
    Sport
    Spurs
    Start Up
    Start-Up
    Stocks
    Success
    Suppliers
    Table Tennis
    Talent
    Task Management
    Team
    Team Work
    Technology
    Temporary
    Tfl
    The 4 Day Week
    The Mirror
    The Muse
    The Sun
    Thrive Global
    Time
    Tomas Svitorka
    Tony Robbins
    Tottenham
    Tottenham Hotspurs
    Train
    Training
    Transferable
    Trucking
    Tube
    Underground
    Uni
    University
    Video
    Wake Up
    Warehouse
    Waste
    Website
    Work
    Working
    Workplace
    Yale University
    YouTube

    RSS Feed

Privacy notice

Website Terms of Use

Website Disclaimer

Cookie Policy

This site is not a part of the Facebook website or Facebook Inc. Additionally, This site is NOT endorsed by Facebook in any way. FACEBOOK is a trademark of FACEBOOK, Inc.
Copyright © 2021
  • Home
  • Work With Chris
  • Book Your FREE LDL Power Call
  • Escaping Retail
  • Home
  • Work With Chris
  • Book Your FREE LDL Power Call
  • Escaping Retail