Dear Robert, A CPA's perspective on how to start a successful business 12 noon - 12:30 06/2/17 BL Ultimate NOVA Business EXPO 8:00 am - 2:00pm $20 at the door American Legion Post #177, 3939 Oak St, Fairfax VA 22030 I'm giving the first of what I hope will be many speeches on how to successfully start a new business. Let me know if you have some secrets for success that you'd like to share. Secrets to Success Charge the right amount, if you're pricing is temporarily lower let clients know to expect higher. Make sure your clients have the opportunity to pay you as quickly as possible. Use a well thought out sales contract, with a legal review. Invest in tools to focus: 31 day/12month action file. Color coded files, work in process, unpaid invoices, paid invoices Develop habits, systems to keep track of everything, so eventually you can delegate nearly everything. Schedule time to plan, to evaluate. Develop your elevator speech. Focus on the most important thing more of the time, don't let your last interruption take you away from your success. Have tiny tasks to do to fill in odd chunks of time. Use one and only one calendar. Keep all messages/correspondence inbound and outbound in one place. When taking voicemail messages take down enough to delete message don't ever let your inbox be too full. Take the time to get your significant other on board. Your spouse might think it only fair that your Investing $5,000 in advertising should be equalized with a $5,000 vacation but that math almost never works at first. Put away Uncle Sam's and Aunt Virginia's share of your sales, they have a way of making sure you do and if you're late they'll take a pound of flesh. Learn enough word processing & Contact management system to be dangerous. The Nuts and Bolts, What to Choose Choice of entity Start-up expenses Choice of accounting method Choice of depreciation method Choice of accounting system that efficiently provides you with the necessary data to run your business and to comply with the government's red-tape Choice of Retirement plan, which is best for your business, now and in the future Sincerely, Gerald R. Geddes gerald@geddescpa.com 703-764-0829 Let's S.T.R.I.V.E for America |
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