Before we move into the second half of January, and move away from the topic of New Year’s resolutions, let’s address one more common, although slightly less so, resolution made each year. Let’s talk about the small number of brave souls out there who resolve to take their financial destiny into their own hands and start their own businesses. Not all who make this resolution will follow through with it, and not because they can’t make it, but because they get discouraged. And who can blame them? Branching out on your own is a scary venture, especially if you aren’t sure where or how to start. Making that start is a lot easier if:
1. You have a plan
2. You aren’t alone
The following article from Kiplinger.com, Six Steps to Starting Your Own Business, can help you with the first part, and your attorney can help you with the second.
That’s right; your attorney can help you start your business, and in fact should help you start your business. Although the idea and impetus behind this new venture will be all yours, you should absolutely talk to your attorney about the formal incorporation and formation. Many attorneys are small business owners themselves, and can also help with the challenging and daunting tasks of structuring and formalizing a business plan. Once your business is off the ground and making money (as it undoubtedly will) your attorney can help you protect it from creditors and lawsuits.
With a clear plan, and a friend in your corner, starting a business seems almost too easy.
Need a little more incentive? Every entrepreneur mentioned in Elizabeth Kountze’s article above was between the ages of 18 and 27 when they started their business. Few of them had any money or experience when they launched, just an idea and determination. If they can do it, you can too.
So if you’ve ever considered starting your own business, this is the year to do it. Make a plan, call your attorney, and take destiny by the horns.
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