Deciding to start your own business is a big step. That being said, making the actual decision to start your own business is the easy part, but before you can open up your doors to new customers, there is a lot of paperwork and planning that needs to go into your business. At QualiTax, we feel that starting your own business should be an exciting and enjoyable time, as opposed to being filled with stress. In order to provide you with the support you need to get your new business off the ground, our experts at QualiTax offer new business start-up services! In addition to providing you with small business tax services, we also offer a wide array of small business accounting and remote CFO services that will help your business make a profit and operate smoothly. Interested in learning what QualiTax can do for you? Contact one of our qualified Annapolis CPAs today!
Working with QualiTax will help to make the initial stages of starting your business less stressful, but there are also a few things that you need to consider before you can move forward with making your dream a reality. In part one of this multi-part series, we will discuss a few of the essential items you will need before you start your business. Once you have a solid foundation, or if you’re interested in expert advice on starting your business, contact QualiTax to learn how you can move forward.
Before you can receive funding for your new company, it’s important that you develop a business plan. Having an idea of what you want to accomplish with your business is a good start, but a business plan goes deeper into the inner workings of your business. A business plan is typically a written document that you will present to banks, investors, or lenders. This plan explains the comprehensive details of your company to give people an idea of how you will make a profit, how you plan to spend your money, as well as other important details.
Once you have written your business plan, the next step is to write your executive summary. While the business plan encompasses all the comprehensive details of your company, the executive summary should be a less detailed version of your business plan and is typically less than a page in length. The point of the summary is to condense the details of your business so that anyone who reads your executive summary will have an understanding of what your company does.
Mission and Vision Statements
The mission and vision statements are a vital part of your company, and you may even have them written before you create a business plan. These statements may seem very similar, but they both serve a different purpose. For example, your mission statement should be less than 30 words and tell your customers what you would like to accomplish as a company and the overall purpose in the present. Your vision statement, on the other hand, is a shorter statement that sets long-term goals for the future of your organization.
Products and Services
Every business has a specific product or service that they are trying to market to their clients. For instance, you may be trying to sell artisan soaps or you fix cars. No matter what your product or service may be, it’s important to define what your company has to offer. You will need to write up a detailed description of your products and services. In order to be as detailed as possible, you will want to include pricing, any unique features that make your product or service stand out, and even photos, drawings, or technical specifications.
Get the Help You Need From QualiTax!
At QualiTax, we know a thing or two about starting a business, and we are more than willing to share our knowledge in order to help your business thrive. Whether you’re only interested in our small business accounting and tax services or you’re looking for help starting a business of your own, we can help! Our expert tax advisors and Annapolis CPAs have the expertise to help make the process of starting your business more enjoyable. If you’re ready to get started and take the next step, then contact QualiTax at 410-346-5431 or fill out our form online.
We look forward to hearing from you soon!