ForumsAccounting and Budgeting

It is always nice to hear from new members and YES hopefully you will get good input from the members.
How soon do you plan on starting this new business?? NOW while you are in college??
After graduation?? Will the business be in the Accounting field??
The more you share with us thebetter our answers.
Once you have narrowed the field down to what you want to do, DEVELOP A BUSINESS PLAN.
Come up with a name for the business and register the business.
Good luck, LUCKIEST

Sounds like you still have a lot to think about, but it is great that you've started to think about it. As someone who is currently in school and starting a business, I would warn against starting a business at least until you are within 6-8 months of graduating. My business has really taken a lot of focus away from my schoolwork. However, it's great to go ahead and do the brainstorming while in school. One of the great things about school is that there are some many people around that you can ask questions to who will give answers for free (like this site but in person).

The amount of money you would need greatly depends on what kind of business you are thinking of going into. If you choose an internet business, those costs will be substantially smaller.

You will need to fill out some legal papers, such as your ficticious busines name and stuff for your business license once you start.

Coming up with business ideas is not too difficult. I have a post about this at mickysbusiness.blogspot.com. You might consider some problem you've found in accounting that could be taught in a simpler way to the average person. Good luck.

To begin with you need a vision of what type of vision you have for your business, what will you do?

Then you will need a business plan and a team and the funds to execute the plan.

I know those are very broad and general answers due to the generality of the questions.

I would suggest you get the free resources from the SBA as a start. There is another forum online called youngentreprenuers.com. They have covered a lot of information and are your age group.

I have written several articles at ideamarketers.com under Kathy Hadley that are helpful overviews.

After you've gone over some of that, come back and check in and let us know how you are doing.

Good Luck

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Maybe this will help, LUCKIEST

h3. 6 Steps to Small Business Success

1. Start Smart
2. Plan Ahead
3. Set up Systems
4. Seek out Sales
5. Aim for Growth
6. Leverage Opportunities

1. Start Smart.
Identify a niche. Don't compete to be the lowest cost provider. Look
for what makes your product or service unique and adds a special value
for the client and charge for that value. Every business has many
facets. Start with what you know and like; start a business that has
meaning to you. Keep in mind that we don't know what the future holds,
many of the jobs and businesses of tomorrow don't exist today. You can
create your own success.

Now is the time to dream. To start smart, you should like the idea of
the business. The way to earn a good income and build wealth is by
serving clients well, making their life better in some way-it's more
than filling a need in the marketplace. To succeed you want to test the
idea to make sure your potential clients like the idea too. Test your
ideas.

2. Plan Ahead.
People often ask me why bother with a business plan? Look at the
lottery as an example. You may get lucky and get the winning ticket,
but the odds are against you when you rely on random chance. I'm a risk
taker...but not that much, minimize the risk of going into business and
maximize your potential for success. Take the time to write a plan of
how you get from point A to point B. A plan gives you a clear future
focus and increases your chances of success.

The first rule of a start-up is put some of your own money in the
business. As the owner you must be willing to capitalize the business.
The second rule is put as little of your own money as possible in the
business. Prepare your plan and look for funding for your business from
multiple sources, which can include a business loan or business line of
credit.

Don't go it alone. Plan ahead now to build your team. Your team may
include a CPA and an attorney that you work with as needed. Add a
mentor from your industry and get a SCORE mentor to help you plan for
success. No one has all the answers. You get more ideas and information
by building a success, support team that can help you plan ahead.

3. Set up Systems.
The most basic system every business should have is a good financial
system. Ask yourself how am I going to generate enough income to
support myself and my family. Begin here. Put together a personal
budget, so you know what it costs you to live. Now, you can move on to
the business budget and sales planning, so you can see how many sales
you need to break even and make a profit. The start-up expense plan,
operating budget and your accounting software are vital to your
success.

4. Seek out Sales.
The daunting question is how do you go about seeking out your first
sale. Recognize that since you don't have a big ad budget to be seen by
everyone, you need to target a niche and get connected in your market
community, be it local, regional or national. You need other people
selling for you-not employees-goodwill referrals. Get out and talk to
as many people as you can. Join organizations that would have clients
for your product or service. Become a visible part of your market, and
then ask for the sale. You begin the sales process with people that you
know. Yes, it's okay to start with friends and family as your first
customers, and then broaden from there.

5. Aim for Growth.
The basic tenant of creating a company is that you own the company. You
are not just creating a job for yourself. It's less risk and less
investment to get a job. Building a business is creating a company that
is more than the job itself. Think about the future. How large do you
want the company to be in terms of sales, net profit and employees?
Your answer to each of these questions will influence how you grow.
There are varying costs and profits associated with growth. It's
important to make a deliberate choice early about how you want to grow
your company.

6. Leverage Opportunities.
Good luck. Good fortune. Good timing. All play a part in business. As a
business owner, be very clear about your core focus for the business
and how it serves clients. Your core business is what pays the bills.
Then, as an entrepreneur you are about opportunity. When you see a
potential opportunity or stroke of luck measure it against your core
business focus. Good fortune is great, when it matches your vision for
the business. Always consider if a good opportunity is the right fit
for your business. If something looks great, but it's not in sync with
your long-term plan and budget, think carefully before committing your
company's resources.

*Many economists are predicting that in 2 years, over 50% of all
businesses will be home based because of how much our newer technology
makes it possible. Direct Distribution is becoming the method of choice
for many manufacturers to get products out to the public as
inexpensively as possible!*

*With Gas Prices going through the roof, It only makes sense to find a
way to telecommute from home instead of commuting to another location
to make other people rich. Businesses are saving money and resources by
not leasing Retail or Commercial space to set up a lot of cubicles for
people to sit and use the same technology that all of us can have at
home.*

*Also, the average Business startup as of this year is $88,000. 95%
of all new businesses fail within the first year of operation. Any of
the surviving businesses usually only see any profit at all in 3 or
more years.*
How would you like to be making money and get your investment of $65.00 to $199.00 back in less than a week?
*The main reason for failure is because the new business owners are
unable to be creative or unique enough to capture the consumers in the
marketplace. They put a huge amount of capital into advertising and
usually get too small of a return on their investment. The usual return
on the normal method of advertising is 1 to 2 percent. They can usually
only afford to conduct business on a local basis until profits will
allow them to expand Regionally, Nationally, or even Internationally.
There is always increasing overhead like building rent, Product
inventory to be on shelves, warehousing, happy and unhappy employees,
payroll deductions, benefits, utilities, business licensing. The list
goes on.*

What is the solution? How can the ordinary person get extraordinary results from starting up their own Home Based Business?

1) They want to seek out a company with a long track record of continued success.
2) They want to work with a company that already has a marketing plan and an affordable advertising campaign in place.
3) The product or service they offer should be something that EVERYONE Everywhere needs.
4) What the business offers must be very consumable and could allow repeat orders on a monthly or weekly basis.
5) The company must be solvent and be able to pay you what you earn on time Every Month.
*6) You have the ability to have a pay day every day if you choose
and not need to stock up on anything because everything can be drop
shipped from online transactions.*
*7) There is a mentoring system in place to show you how to build
your business from experience instead of teaching theory and has a
support group to plug in to when the occasional struggle, challenge, or
bad day happens.*

*If I could show you (and help you) invest 3-5 hours a week into
YOUR OWN Home Based Business (internet based business) and you can
SUPPLEMENT your income $500 - $1500 per Month WITHOUT affecting your
Current Job or life style, Would THAT be of value to you?*

I can provide you some FREE information about how to do that.

*The opportunity that can provide all of the items on the list above
is called the Financial Success System and it has a Multi-Million
Dollar Internet Infrastructure already set up in over 64 countries
internationally for Home Based Business Owners to simply plug in to and
have an instant Global Presence in the marketplace, in an industry that
is predicted to be a TRILLION Dollar industry in the next 18-24 months!
It is already a 400 BILLION Dollar industry today. Last year our
Independent Distributors did over 3.5 Billion dollars in business, all
working from like me. In one year, my team has generated a quarter of a
million dollars in revenue.*

*Our online Advertising Campaign is also a Multi-Million Dollar
Program that will bring you very interested leads from sources like
Television, Radio, Satellite Radio, Internet, Magazine Ads, etc. You
can invest as much or as little as you like for your leads and*
*co-op with other Home Based Business Owners and keep costs very low.
All of this for about $49.00 a month if you choose to participate.*

*There are NO COLD CALLS. These leads come from people asking for
more information about how to improve their lives and also be able to
start a part time Home Based Business.*

*Instead of investing that $88,000 to set up your own business and
gamble that you will be among the 5% that won’t fail in the first year,
you can spend a couple hundred dollars and plug in to an International
Organization that has been around for 28 years and has enjoyed 18
quarters of single AND double digit growth and is still growing. The
company is traded on NYSE and is having great numbers.*

*This is recession proof and economy proof. When the rest of the
economy is going in the tank, our business is flourishing and the
biggest amounts of money to be earned have not even happened yet.*

*Imagine putting gas in your car only once or twice a month instead of
maybe a couple times a week. It is getting to where gasoline is more
expensive than monthly car payments and auto insurance costs combined
for many people.*

*Your next step is VERY Simple! Just simply visit my website and
order a FREE training package. I believe so much in my business, that I
will cover the cost of your training package and will invest $30.00 in
to your future, only as long as you are SERIOUS. You have 14 days to
review the DVD and if not interested, it can be returned by regular
mail and no strings or obligations.*

*If you live near the Portland Oregon area, you can contact me by
email and we can arrange getting a training package to you very
quickly. If ordering online, we want to get this information to you
immediately so you can begin building your financial future from home
NOW! This would require just covering the FedEx shipping fee of $9.95
to get the package to you overnight and take advantage of working in
the information age.*

Website: www.kdearnyourdreams.com

Email: munyguy@comcast.net

*Looking forward to serving and mentoring you in to as bright a
future as you are willing to work hard for, and wishing you all the
best,*

Keith

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