Now YOU are the Boss, but don't let it inflate your ego. You have more work to do than you imagined.

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Rex L. Crandell
Rex L. Crandell Firm
Walnut Creek Office
3000 Citrus Circle Suite 207
Mail: P O Box 30305
Walnut Creek, CA. 94598
(925) 934-6320
(800) 464-6595
Fax: 925 934-6325
E-Mail: [email protected]
http://www.taxrexcrandell.com;
http://www.RexCrandell.com;
GPS Navigator: Lat. 37.9293265N. Lon. -122.0145487W.

Buy the book by Rex Crandell: COMPREHENSIVE ESTATE PLANNING: "Don't Leave Earth Without It"
on Amazon: https://www.amazon.com/Comprehensive-...

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Getting Started
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1. Conduct a personal evaluation to determine why you want to start a business.
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2. Create a business plan:
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a. What do we do?
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b. How do we do it?
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c. Who do we serve?
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3. Conduct a SWOT analysis to identify your strengths, weaknesses, opportunities, and threats.

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4. Assess how much capital you have available to invest.
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5. Discuss your plans with family members to ensure they are behind you.
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6. Determine if you want the business to be full-time or part-time.
Committing to Your Business
☐
1. Define the customer “problem” and how your business can provide a solution in a unique way.

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2. Determine viability: Is there a market for your service?
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3. Identify businesses that are having success today.
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4. Will your business be relevant as time passes? How will you adapt?
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5. Define your market:
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a. Who is your ideal customer?
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b. What’s your market size?
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c. How easy is it to acquire the customer?
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6. Validate your idea by talking to potential customers about it.

1. Select your business name. Perform a corporate name search to make sure your name is still available.
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2. Register a domain name and secure social media profiles for the company.
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3. Apply for an EIN with the IRS and local or state business licenses.
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4. Determine whether the zoning laws allow for home businesses in the neighborhood.
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5. Get a PO Box in case you do not want your home address to become your primary business address.
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6. Get a separate phone line in case you do not want your personal phone to become your primary number.
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7. Decide on a legal structure or business structure and incorporate: Corporation, LLC, or Sole Proprietorship.
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8. Get your website up and running.
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9. Set up an accounting and record keeping system:
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a. hire an accountant,
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b. select an accounting system, and
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c. select a fiscal year.
Ensuring Sufficient Funds are Available
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1. Estimate how long it will take for your business to acquire paying customers.
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2. Itemize your living expenses for the first year, at least, and assess where these will come from.
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3. Itemize your living expenses for the first year, at least, and assess where these will come from.
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4. From this, determine how many months of savings or investment you need to breakeven.
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