PFB Law, Professional Association - St. Paul Business Law And Estate Planning Lawyer" class="brand-image"/>
St. Paul: 651-968-1022
Toll Free: 866-561-3419
Practice Areas

Starting a business: A route to success

Starting a business takes more than just a good idea. It requires motivation and persistence. You'll have to plan for the direction of your business and do the research it takes to get started and keep it profitable.

Before you start a business, it's wise to look at your reason for starting one. Having your own business is good for some people, because it allows for them to use all their specific talents. It gives them the freedom to create their own hours and workdays. People also enjoy the financial freedom of owning their own businesses.

To get to a point where your business is successful, you need to make sure you open a business that is within your range of knowledge. For instance, if you've always worked in retail, working with clothing might be a good option. On the other hand, if you're familiar with accounting, opening your own firm might be a better option.

Once you're ready to begin, you should consider whether or not you have the skills to run the business on your own. If not, it might be a good idea to look into a partnership or hiring others to perform certain tasks. If you'll work alone, you may want a simple legal structure, whereas if you run a company with multiple employees, you may want to file a more complicated legal structure to give yourself the most protection from liability. Your attorney can help you choose from several standard legal setups, so you have the protection you want now and in the future of your company.

Source: FindLaw, "Start-Up Basics," accessed Oct. 20, 2017

No Comments

Leave a comment
Comment Information