FIDELSEAL AGENCY 5.STEP GUIDE FOR ENTREPRENEURS STARTING A BUSINESS

FIDELSEAL AGENCY 5.STEP GUIDE FOR ENTREPRENEURS STARTING A BUSINESS 1. Understand the Commitment and Challenges Involved in Starting a Business Starting a business is a huge commitment. Entrepreneurs often fail to appreciate the significant amount of time, resources, and energy needed to start and grow a business. 2. Coming up with a great and unique product or service Having a strong plan and vision for the business Having sufficient capital and cash flow Finding great employees Firing bad employees quickly in a way that doesn’t result in legal liability Working more than you expected Not getting discouraged by rejections from customers Managing your time efficiently Maintaining a reasonable work/life balance Knowing when to pivot your strategy Maintaining the stamina to keep going even when it’s tough. 3. Protect Your Personal Assets by Forming the Business as a Corporation or LLC Never start a business as a “sole proprietorship,” which can result in your personal assets ...