Financial Forecasting - Where Can You Go for Advice on Start-Up Costs?
There is some debate in the small business world regarding the number of start-up companies that continue to remain successful today.
While the statistics indicate that the number continues to climb, one thing is for certain.
This article shares guide new business owners to resources that can help determine the costs involved in starting a new business.
Resource #1: Business owners.
Who better to give you the cold hard facts about business trends than business owners themselves? You can glean lots of practical information from people who are in the business trenches making things happen.
These are the people who have first hand knowledge of the costs involved to start a business.
So get to know them and take good notes.
Resource #2: Non-Profit Organizations.
Another resource is organizations geared to help the new business owner move successfully beyond start-up.
Non-Profit organizations can provide examples of typical costs that you can expect to incur.
Many also offer training in the areas of accounting to help you get a good grasp of the financial aspects of business ownership.
Resource #3: Business Start-up Consultants.
Tap into the expertise that consultants can provide to help with start-up forecasts.
Consultants are especially useful in other ways like researching start-up and ongoing costs when there is very little information about the business that you are going into.
Resource #4: Trade Associations.
Industry or trade associations are a great resource in the start-up phase.
Many trade associations conduct member surveys to uncover patterns in start-up and operating costs.
The results are made available as White Papers to keep members up-to-date on current trends but may also be available to non-members for a fee.
Resource #5: Accountants.
Working with an accountant is a good way to build a successful foundation for your business.
They are available to help you determine how much it will cost you to get started and the amount that you will need each month.
Accountants can also provide expertise and resources for financial models and to help identify sources of funds for capital requirements.
Far too many people who start a new business do so without having a clear understanding of how a financial plan will help them succeed.
And now that you have a quick list of resources you are on your way to forming a thriving company of your own.
To learn more about start-up costs and running a successful business, I invite you to check out my free video series for business owners and claim your free monthly financial newsletter at http://www.
tbsusa.
com.
While the statistics indicate that the number continues to climb, one thing is for certain.
This article shares guide new business owners to resources that can help determine the costs involved in starting a new business.
Resource #1: Business owners.
Who better to give you the cold hard facts about business trends than business owners themselves? You can glean lots of practical information from people who are in the business trenches making things happen.
These are the people who have first hand knowledge of the costs involved to start a business.
So get to know them and take good notes.
Resource #2: Non-Profit Organizations.
Another resource is organizations geared to help the new business owner move successfully beyond start-up.
Non-Profit organizations can provide examples of typical costs that you can expect to incur.
Many also offer training in the areas of accounting to help you get a good grasp of the financial aspects of business ownership.
Resource #3: Business Start-up Consultants.
Tap into the expertise that consultants can provide to help with start-up forecasts.
Consultants are especially useful in other ways like researching start-up and ongoing costs when there is very little information about the business that you are going into.
Resource #4: Trade Associations.
Industry or trade associations are a great resource in the start-up phase.
Many trade associations conduct member surveys to uncover patterns in start-up and operating costs.
The results are made available as White Papers to keep members up-to-date on current trends but may also be available to non-members for a fee.
Resource #5: Accountants.
Working with an accountant is a good way to build a successful foundation for your business.
They are available to help you determine how much it will cost you to get started and the amount that you will need each month.
Accountants can also provide expertise and resources for financial models and to help identify sources of funds for capital requirements.
Far too many people who start a new business do so without having a clear understanding of how a financial plan will help them succeed.
And now that you have a quick list of resources you are on your way to forming a thriving company of your own.
To learn more about start-up costs and running a successful business, I invite you to check out my free video series for business owners and claim your free monthly financial newsletter at http://www.
tbsusa.
com.