Opening your own business is exciting and thrilling. It's everything that comes after the excitement and
thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch
out the "thrill and excitement" period forever.
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a
successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many
new small business owners make when starting their new venture.
We help you...
Prepare an initial business plan to clarify your marketing, management, and financial plans.
Determine your start-up capital needs.
Identify sources of start-up capital and backup sources if needed.
Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
Select a business structure that best fits your needs by evaluating tax advantages and ease of operation.
Select the right accounting software by evaluating your budget, needs and hardware.
Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
Establish billing and collection procedures to maximize your cash flow.
Establish procedures to monitor and control costs.
Setup a home office so you can maximize your tax deductions.
Prepare and file all required state and local licenses and permits.
Prepare and file your application for your Federal Employer Identification Number.
Provide payroll and payroll tax filing when you bring on your first employee.
Comply with employment tax laws so you don't get hit with penalties.
Identify your business insurance needs.
Let us help you succeed by getting your business off to a good strong start.
Phil Condit, P.C.
2701 9th Ave S, Ste I
Fargo, ND, 58103 Phone: (701)237-6364 pcondit@pccpa.net
