9 Tips For Business Startups

If you’re inexperienced, seek out numerous reality checks.

  1. Understand your strengths and weaknesses; know your competition.
  2. Commit. You’re in it to win it, and you better have enough capital.
  3. Document everything.
  4. Get solid accounting and legal advice. Your accountant will advise on which accounting procedure to use and perhaps suggest a form of entity. Your lawyer will create your entity, protect your assets (such as your trade name or invention), and keep you out of trouble with sound advice and contracts.
  5. Build an experienced team of advisers beyond your CPA and lawyer.
  6. Understand the basics of employment and tax law.
  7. Network. Get to know other entrepreneurs from all business sectors.
  8. Don’t be afraid to ask questions: Call your lawyer often if the firm doesn’t charge for brief phone calls.
  9. Understand financial statements and manage from them regularly.

For a brief, free consultation with a lawyer at Slinde Nelson, call 503-567-1234 or contact us by email.

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