Friday, March 6, 2009

What's holding you back

Like all of us, fear can inhibit us not to persue that dream, that idea, that business. Don't let fear stop you from trying. Every single new business owner out there has made mistakes. But let those mistakes guide and teach you in the future. What is amazing, is how making those mistakes in your own little business, can help you when you are the mid level manager at the giant faceless corporation.

Taxes? Thats why I hire a tax person. It is his job to know the laws and to guide me.
Fullfillment? Guess how many companies there are that their only job is fullfillment. Guess what, Amazon will do it for you. Who knew?
Business Licence? No one is coming after you because you made 500 bucks a month and didn't set up a sales tax escrow. If they do, pay the fines and move on. Heck, there are companies you can pay 500 bucks to and they will get it all set up for you.
Insurance? Well if you do a sub-chapter S or LLC, your liability is limited, if not there are brokers in most banks now a days that can buy you a $1,000,000 general liability policy for less then $1000 bucks.
Bank accounts? Local credit union or your main bank. They would love to help you get started in your business.

If you let all of those things stop you, you will never get off the ground. Get your idea to the point where its ready to go, and you can worry about it at that point. Why worry about licenses and taxes when you don't even have a product to sell.

Always remember, it is better to ask for forgiveness then it is permission...

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