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When meeting with potential clients we always start by asking why they've decided to go into business for themselves. We've heard everything from having more month than money (which always cracks me up), because they want to create generational wealth, tired of working for someone else, want to get rich quick-trust me, we've heard it all. You have to decide why you're going into business and what your level of commitment will be. With this blog, we aim to help walk you through the process of opening your business. I mean from conception to fruition, we’ll be there every step of the way. We’ll discuss everything from choosing the correct legal entity, logos, your business name, acquiring and keeping clients, marketing, funding, customer service, and so much more. First up we’ll discuss the difference between entrepreneurship and small business ownership from where we stand.
There’s small business ownership, where one would enter into a true business model dealing with established products and services. Don't get me wrong, there are risks associated with being a small business owner, but they're more on the calculated side. Think, franchise owner or entering into the family business. Many love entering into business ownership where the road has already been traveled and there’s someone there to tell you what to do next. Funding a small business, especially one where the brand is already established can bring about easier financing options than starting from scratch. Let’s just say, the playbook has already been written and just requires an amazing coach and quarterback (yea, I hope that’s right as I know nothing about football, LOL) to make it happen.
Then you’ve got the entrepreneurs. You know, those who start and operate the business while throwing caution to the wind to make it happen! They ride the high of uncertainty day to day to fulfill that dream of being one's own boss, solving the world's problems one product or service at a time. Taking on many unknown and uncalculated risks and living life like no other, oftentimes not knowing when or if their clients will pay, if their product or service will catch on, when they'll be in the black and no longer the red-is how it goes down. Honey, there's a lot that comes with entrepreneurship. However, the rewards outweigh trials and tribulations if you get into it for all the right reasons.
WELL, WHICH ONE ARE YOU? Entrepreneur or Small Business Owner
Either way, congratulations on making one of the best decisions of your life. Meet us back here next Friday for the next installment of Open for Business by Reese Salley.