Apr
8
This is Part II to How to Start a Business – Part I Plan your operations. Who will lead, and who will follow? Define your organization, from the receptionist up to the CEO, and what part each plays in both function and financials. Knowing your organizational structure will better help you plan your operating costs, and fine-tune how much capital you will need to function effectively. Keep in mind that your business will continue to evolve and that this will be a rough idea of who is needed to keep things functioning; as the business grows, you’ll likely make changes to the hiring plans to fit what is happening at the time. Also, in a number of cases, the “staff” is you and whomever you can consult, such as your lawyer and accountant. This is fine, as long as you show that you’re prepared to pay for external advice and help until your business is ready to take on staff. Cover the financials. Succinctly, this describes how much you plan on spending, and how much you’re making. Since this is the most dynamic part of your plan, and perhaps the most important for long-term stability, you should update this monthly...Read More
Apr
6
Have an idea? It might be a product you’ve always wanted to make, or a service you feel people need. It might even be something people don’t know they need yet, because it hasn’t been invented. Starting a business involves planning, making key financial decisions and completing a series of legal activities. Are you one of those who dream of owning your own business? You’ll be your own boss, and the captain of your destiny—–maybe even a captain of industry. Is it hard? Without a doubt. Is it challenging? Absolutely. Do you have to be wealthy and well-educated with a lengthy resumé? Not at all! Can you do it? There are some tried and true ways head down the path of creating your own business, and there is no time like the present to get started! Have an idea. Start with a simple question like: “what shall we build?”. The idea is not to create a business plan, just to generate some ideas. Many of the ideas will be duds, and there will be quite a few ordinary ones, but a few will emerge that have real potential. Define your goals. Do you want financial independence, eventually selling your business...Read More
Apr
1
Indiana weather takes us on an adventure this time of year. It’s a rollercoaster of anxious ups filled with sunshine and warmth and gut-wrenching downs filled with clouds and chilly winds. There are some days that take us from 0 to 60, which is acceptable when referring to a rollercoaster and miles per hour. Alas, we all know 0 to 60 degrees is much more likely. And if we are really lucky, we get to witness an April snowstorm. Or an early March tornado. Adaptability is a top strength for the inhabitants of the Hoosier state. The one constant to spring has always been the Easter holiday. We take solace in knowing we can gather with close friends and family to celebrate. Easter egg hunts, more chocolate than we know what to do with, hard-boiled eggs, and that fake, plastic grass that seems to shift into every crevice of the house are some favorite trends to the holiday. A favorite of mine has always been enjoying the holiday with my younger siblings. They wake up to find an Easter basket filled with their favorite treats, they battle over who will gather the most plastic Easter eggs, and then we decorate...Read More