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Articles: How Much Do I need?
Money management begins with the budding entrepreneur's first question. How much money do I need to open the doors?
I started with a few hundred dollars. Another entrepreneur Delorian needed more than $3,000,000 to get his automobile company going. Domino's Pizza started with $75 and is worth over $500,000,000 today. The point is each business is different and you have to employ different strategies to get the necessary capital. What are the Capital requirements for your business?
In today's market, working from home is not the stigma it once was. Is your business workable from home? If you can, you have saved your self a considerable sum in rent money, not to mention the first, last and security payment you won't have to make up front. But even if you work from home, you need a separate phone number for your business.
Why not use your cell phone? Always available and most importantly, you probably have one so no additional outlay is required. Need a fax machine? Consider E-fax. You get a local line, prices start around $10.00 a month and your faxes come in your e-mail. A toll free number can also be obtained to piggy back on your business line with an extremely reasonable monthly cost.
Get a copy of QuickBooks™ and learn to use it. It will make you look good to your customers and will help you manage your business and save on accounting fees.
If you take advantage of all the latest aids to business you will find that the actual money you need will be considerably less than you thought... If you think outside the box.
©Mike Crosa CPA, QuickBooks Coach 2008
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