What is the best way to start a business?

Question

What I am asking is for ideas relating to the financing side of things as well as he processes and things I would need in place to start a graphic design studio. 

Initially it would be me solo and my husband offering a hand. I am looking for the best way to finance the venture with the least impact.

Anonymous · Accepted Answer

I started out in business by attending a free educational group of retired business leaders' organization called S.C.O.R.E. which not only provided in simplest terms the knowledge I needed but also afforded me numerous experienced mentors AND a solid business network of contacts.  SBA loans are available but leaner for smaller start-ups during Republican administrations.  I am not informed as to current SPA loan availability.  As a financial minority (female), you have a loan advantage.  Also, negotiate with landlords / vendors for six month amnesties before having to pay in exchange, especially with vendors, for long-term contracts.  AS SOON AS POSSIBLE, get a CPA retained to arrange tax advantages and to gain valuable advice.  If you're credit is good, max it out with the largest operating cash loan you can get.  I'd say sell your house or refinance for operating cash / start-up, but real estate markets are morbid now.  Sell EVERYTHING you can liquidate, jewelry, boats, atv's, etc.  Be serious about this committment.  Don't enter into it half-#ss.  Go for broke.  Tap relatives/friends/take on a silent partner.  Make it happen.  Whatever you think you are going to need for start-up, double that figure.  If you intend to hire staff, consider the tax advantages of hiring handicapped and student apprentices.  Do without the luxuries / doo-dahs, even carpet, for example, in lieu of raw concrete flooring.  Generate contracts BEFORE opening.  With signed bids, you can usually get an operating loan to cover all needs to meet those account contracts.  That's a biggie, getting work generated prior to opening.  The very best of luck to you.  Check out S.C.O.R.E. for sure.

Edit: Also, please send me a message, which I will save, so that I can contact you in the future.  I ALWAYS need a graphic artist.  Just click on my avatar to find that blue link.

WHO · Answer

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What is the best way to start a business?

2 Answers