*********Table of Content**********

12 Steps To Starting A Successful Small Business...

Top Five Questions For The TL...

Who Do You Need To Talk To Before You...

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~~12 Steps To Starting A Successful Small Business~~

All around the world, people who want more control
over their lives are starting home based small
businesses. These people are living the new American
dream of owning a business and avoiding the high
overhead and start up costs of a commercial location.
If the idea of working from home is appealing, but you
don't know where to begin, here is a step-by-step
guide. This list is not intended as an substitute from
getting advice from a qualified professional. It is
intended as information only.

STEP 1. Get Organized

The first thing you need to do is make sure you have
all of your finances in order. Set up a planning
notebook to keep track of all of your transactions.
This notebook will also help you organize your
business appointments as well.

STEP 2. Decide On The Type Of Business You Want To
Start

Make a list of twenty things you are interested in.
Pick five of them that you feel you would enjoy the
most. Finally, pick the one that you want to do the
most. I suggest you picking a business doing something
that you enjoy doing. If you pick one you like, it
will not be so tedious. It will be a joy. You can
search business opportunity magazines, your local
newspaper, ask people you know or the Internet to help
you find a business opportunity that you are
interested in starting.

STEP 3. Choose A Legal Form

The four basic legal forms are sole proprietorship,
partnership, limited liability company and
corporation. The most common is the sole
proprietorship. But, I recommend the corporation.
For more information about picking the right business
formation; go to http://www.tlmanage.com/lbf.html

STEP 4. Determine Where The Money Will Come From

There are three ways to finance start-up costs: use
your own money, obtain a loan, or find investors. It
is better for a small business to self finance your
business. This is a better choice because you will
have less debt. Therefore that will help your
businesses bottom line financially.

STEP 5. Make Sure You Investigate and Research Any
Business Opportunity

There are so many scam artists out there in the world
and they will take your money. So, call the company,
call the BBB, call the Chamber of Commerce, check the
Internet, the library, just make sure you are dealing
with a legitimate company.

STEP 6. Get Commercial Business Insurance

Contact a commercial business insurance agent and get
business insurance. This is insurance for your
business. It works similar to car insurance. If for
some reason someone sued your business. This
insurance policy would fight for your businesses
rights.

STEP 7. Choose A Mailing Address

Using a post office or drop box as the business
address down plays the fact you are a home based
business. It also prevents customers from dropping in
at all hours.

STEP 8. Pick A Business Name, Then Register It

If the business name you choose is different from your
name, file an assumed (or Fictitious) name certificate
with the state. You are notified if another business
already has that name, so you can select a new one.
Contact your Secretary of the State Office, they can
help you with the forms you will need to file. The
cost for your fictitious business name is very
inexpensive.

STEP 9. Write A Business & A Marketing Plan

A good business plan should include a description of
what you are selling, who your prospective customers
are, how you plan to promote your business, and how
much money is needed for start up costs.

A good marketing plan should explain the total market
for your product. Who your target market is and how
you plan on marketing them in great detail.

STEP 10. Create A Record Keeping Systems

Put together a simple and effective bookkeeping system
for income and expenses. Use a pocket divider for each
month's receipts, bank statement, deposit tickets, and
canceled checks. Keep your personal records separate
from your business records. Contact a qualified record
keeper for information about obtaining their services.

STEP 11. Get A Business Lawyer

A business lawyer is a must. They can help you with
the start up of your business. They can make sure
that all of your law issues are handled properly.
They can help you with just about every aspect of your
businesses activities.

STEP 12. Obtain Licenses & Permits

It's very important not to overlook any necessary
licenses or permits you may need. Some cities and
counties require a general business license. If the
product or service you sell is taxable, you need a
state sales tax permit. Contract your local government
office for more information.

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~~~~~ Top Five Questions For The TL ~~~~~~


1.Is there really free money out there that the
government offers to minority women to start there own
businesses?
Patricia I. – St. Louis, MO

To help you find grants for your business I recommend
you visit http://www.sbasmallbusinessloans.com , this site is
filled with information about grants for starting a business.


2.I have 6 years experience in technology; I
currently consult for a place back in CA over the
phone. Can I do consulting as a job without starting
my own business?
Brandi Z. – Hubert, NC

Job searching is not our expertise. But, I believe you
will need to do a search similar to looking for a job.
Maybe look in the help wanted section of the
newspaper or go to a job placement service to find
help with your search for a consulting job.


3.I have a business that is up and running, and doing
pretty well. The company was formed in MI. That’s
where I lived two years ago. My partner lives there,
but I would like to form a LLC in CA. Can I do that?
Christina - San Mateo, CA

Contact the Secretary of State for the state of CA.
They will be able to inform you about setting up a
CA legal business formation.

4.What are the specific task and idea character
traits required to be a business entrepreneur?
Inu – Honolulu, HI

A good place to find the answer to this question is
at; http://www.tlmanage.com/article.html

5.I started my own business a couple of months ago;
needless to say it has been very hard, but fun at the
same time. In the last couple of weeks I have started
to research government grants for small businesses and
women owned businesses and minority businesses. Well
I got nothing, I must have called 50 different places
and I keep running into walls. Can you please help?
Alssandra B – Santa Monica, CA


A lot of people seem to ask about getting government
grants and loans. A good place to search for grants
is in the web site listed in question 1. The government
doesn’t give out grants without you giving them
something in return. You will have to offer a product or
service that they need.

You can ask one of our consultants a question about your
business start up concerns. We will publish the top 5
questions in the TL Newsletter. You must be a member
to view any replies.

http://www.tlmanage.com/question.html

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~~~~ Who Do You Need To Talk To Before You Start ~~~~

After you have decided that you are going to start a
small business and you are prepared to get started:

1. The first person you should talk to is an
accountant. You want to talk to one that specializes
in working with small businesses similar to yours.

2. A Lawyer is the next person you want to contact.
Once again it is best to talk to one that specializes
in small businesses similar to yours. People are
lawsuit happy; therefore, you should make sure you're
protected. Find out how incorporating your business
can be an advantage to you.

3. Talk to a (commercial) Business Insurance Agent.
And get insured.

4. Get in contact with a financial advisor that
specializes in small businesses similar to yours.
They can help you with finding start up money,
bookkeeping and other financial and management issues
that may come up.

5. Talk to people that are already doing what you are
planning on doing. These people will be the ultimate
source of information. This is because they have been
there and done that.

6. You should do some research and investigation. Here
are some places to help you alone the way:

Your Local Chamber of Commerce

Small Business Administration

Local Business Clubs

State Association of Insurance Agents

Women Business Center (WBC)

Your Local Bank

Local Library

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The Six Mistakes Of Man

1.The delusion that personal gain is made by crushing
other

2.The tendency to worry about things that cannot be
changed or corrected

3.Insisting that a thing is impossible because we
cannot accomplish it

4.Refusing to set aside trivial preferences

5.Neglecting development and refinement of mind, and
not acquiring the habit of reading and studying

6.Attempting to compel others to believe and live as
we do

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See you next issue. :-)
All the best,