Steps toward Becoming a Small Business Owner

Planning stages for those who want to move in the direction of going from an employee to a small business owner are crucial to launch a business that will not close within a year. Begin the process when the desire takes hold so there is plenty of time to create a fully developed and detailed business model. Those first steps will help make a complete budget and secure funding. Free advice, and possibly even a small business loan, is available through the Small Business Administration (SBA).

Be Sure to Include IT Services

One critical budget item is managed IT service. Managed services end up saving businesses money over purchasing technology equipment, paying for software, and budgeting for computer repair technician services. The speed at which technology advances makes piece meal Computer Service options inadequate to keep a small business competitive. Complete IT computer service is also a proactive way to avoid threats and attacks from hackers.

Small Businesses Are Targeted

Criminals who operate on the internet are no longer clever nerds wanting to test their computer skills. They are organized, intelligent, and prey on small businesses that do not typically have strong protections in place. Going into business these days without twenty-four hour monitoring, the latest anti-virus programs, and a double back up protocol is begging for an attack. It is worth the effort to start off with extensive protection from day one.

Reduce Liability Risks

Thinking ahead regarding security will also reduce liability risks. That will impress commercial insurance agents and loan officers, which is always a plus. Opening a new business is a major investment. All the planning in the world will not be enough to cover all contingencies, but covering the most serious situations and high-risk dangers is imperative to success.

Potential owners will want to participate in classes or seminars geared toward operating on the internet securely. Costs are nominal and those who attend are taught to spot suspicious emails, developing policies and procedures for workplace internet use, and the dangers of accessing company data on public wifi servers. The information will be helpful regardless of what type of business will be opening.

Live with the Plan

Once a plan is finished, take some time to contemplate all the advantages and disadvantages of business ownership. Let the idea sink in to be sure there is a certain comfort level with the risks. Discuss it with family members for feedback and reread the plan multiple times under different circumstances. Review it when confidence is high, when doubts creep in, and when that steady paycheck is received.

Like what you read? Give Fred Detwiler a round of applause.

From a quick cheer to a standing ovation, clap to show how much you enjoyed this story.