Presented by: Laura Gannon, CPA SULLIVAN AND GANNON, LLC 22 Central Square Chelmsford, MA Presented by: Laura Gannon, CPA SULLIVAN AND GANNON, LLC 22 Central Square Chelmsford, MA 01824

 Pros Being the boss Setting your own hours If you work hard, the reward is yours  Cons Being the boss All roles: computer guy, bookkeeper, secretary, salesperson, operations function, human resources Long hours Businesses don’t always make money for the first few years or the owner can’t take a salary Work and home life blurred Need to be disciplined, organized and a self starter

 Executive Summary  Marketing Analysis  Competitive Analysis  Strategy  Product/Service  Marketing and Sales  Operations  If needed, your funding request  Financials Great resource is the

 Consideration should be given to the legal, functional, cost and tax effect  Sole Proprietorship  LLC – (single LLC)  Partnership  Corporation – C or S

 Mortgage  Business Loan  Family Loan  Credit Cards  SBA VV  Online Prosper  Virgin Money (formerly Circle Lending)  Zopa 

 Keep separate bank account  Pick a great local bank that is accustomed to grooming new businesses  Open separate credit card  Establish credit for the business  Invest in Quicken or QuickBooks  Keep receipts and travel log  Obtain a federal EIN at

 Who are you selling to?  Where are they?  Develop your elevator speech  What makes you unique?  Services  Personality  Industry Groups  Networking Groups  Must have internet presence  Must have a website  Social Media  Facebook  Twitter  LinkedIn  Blogs  marketing

NAME OF BUSINESS  Descriptive of what you do  But not limited to what you may do  Registration with town and possibly the state OTHER MATTERS:  Insurance  Legal papers  Location  Office  Home  Share space

 Your library  The internet – wealth of information and free training, free tips and recommendations:              Publications:  Fortune  Money  Inc.  Entrepreneur  Trade Publications  Accountant  Lawyer  Bank  Payroll Company

Sullivan and Gannon, LLC 22 Central Square Chelmsford, MA