Starting a small business Part 6


Everything that I learned about marketing in college and before starting a business was WRONG.  Marketing is the most important responsibility of a business owner.  Read that again.  You may think that you’re a mechanic, software developer, hairdresser, CPA, etc, but you’re not.  You are a marketer.  I didn’t understand this until I wasted a ton of money.Continue reading “Starting a small business Part 6”

Do a Ton of Homework Before Writing a Business Plan – The Accelerators – WSJ


Do a Ton of Homework Before Writing a Business Plan – The Accelerators – WSJ. The headline is misleading.  The best advice is in the last paragraph so read that first.  The author is from the renowned New York Tisch family.  It appears that most of his article assumes that you have a large potContinue reading “Do a Ton of Homework Before Writing a Business Plan – The Accelerators – WSJ”

Starting a small business Part 5


Should I just buy an existing business instead of starting one? Probably not.  Especially not if you’ve never owned a business before. Intangible assets are the most valuable assets of an existing business and the toughest to value.  Intangible means assets that you can’t touch and include customer lists, patents, trademarks, brands and innovative (though notContinue reading “Starting a small business Part 5”

Starting a small business Part 4


Should I hire employees? NO!  NEVER!  People suck.  Quote me on this.  The majority are fat, stupid and lazy.  Don’t believe me.  Check out the Black Friday videos on the web of people brutalizing each other to save $20 on a flat screen TV that they don’t really need.  This is probably your pool ofContinue reading “Starting a small business Part 4”

Starting a small business Part 3


Thank you virginiaplantation for liking my previous posts.  You have inspired me to continue.  I hope the posts either help people fix their businesses or prevent them from losing their savings while starting one.   Is failing to plan really planning to fail?  YES!  Without a business plan or tons of blind luck, your businessContinue reading “Starting a small business Part 3”

Starting a small business Part 2


Really, I can’t emphasize this enough – DON’T START A BUSINESS!  You’ll go broke, destroy your marriage, and hate your life. If that doesn’t dissuade you, you’ll need to start making a list of customers.  Do this before starting a business.  Building on the first post, you need to know your customers before you canContinue reading “Starting a small business Part 2”

Starting a small business? Part 1


Why?  Don’t you like sleep, sanity and savings?  All three things are gone once you start a business.  Don’t take my word for it.  Ask any business owner.  Go to your local restaurant, car lot or mechanic.  Ask them how much fun they’re having.  Be warned – they might unload on you. So if youContinue reading “Starting a small business? Part 1”

Should I start a business?


NO! Are you considering starting a business or buying an existing business?  As a small business accountant, whose livelihood depends on small business clients, my advice is DON’T. There are different challenges to starting a business versus buying an existing one so I’ll focus on starting a business. You need to ask yourself and answerContinue reading “Should I start a business?”