Start Your New Business out Right…

You have finally opened your own business!  Your first reaction is one of excitement, but then you begin to understand what you are facing.  You realize that there are a lot of big and little decisions that will determine your success and that it will be difficult to address every need and also do the work that your business requires.  At the same time, you want to keep that initial excitement going! 

JRM will help you...

1. Develop your business plan by clarifying marketing, management and financial plans.

2. Clarify your start-up capital needs.

3. Find resources for start-up capital and also backup sources if needed.

4. Determine your borrowing power so that you know how much money could be available if needed.

5. Look at possible tax advantages, evaluate your legal exposure, insure your operational needs are met, and determine what would be necessary should you have to relocate. 

6. Find the right accounting software for you according to your budget needs and available hardware. 

7. Set up a Cash Flow Budget for the first few years of your operation.  This will let you know what you actually need to keep your business running smoothly and avoid unpleasant cash deficit problems.

8. Maximize your cash flow by setting up successful billing and collection procedures. 

9. Set up cost control measures and monitor procedures.

10. Take advantage of the tax deductions that come with setting up a home office. 

11. Submit properly prepared and required state and local licenses and permits. 

12. Prepare and file an application for your business’s Federal Employer Identification Number.

13. Set up your payroll and file your payroll taxes with the hiring of your first employee.

14. Ensure that your company follows employment laws so that you avoid unhappy workers and potential fines. 

15. Determine the type(s) of business insurance you should have. 

16. Create a professional Partnership Agreement which is very important for avoiding potential issues going forward.