What Do I Need to Consider Before Starting a Business?

One of the big ones is how much money are you going to have to start the business because – and this is a problem actually on the not-for-profit side as well as on the for-profit side – you have to think about where’s the money going to come from if you’re going to operate a business. There’s going to be expenses to pay salaries. If you’re going to have a separate location outside of your house, you’re going to have to have rent money. There will be insurance. There’s maybe payroll taxes. There’s a whole litany of things that you have to think about for about how much money because if you’re going to start a business, you really need to start with a budget and a business plan. That’s something else that we try to help people with. Organizations, whether they’re for-profit or not-for-profit, that have a business plan do better than those that do not. People do not do well flying by the seat of their pants.