Starting a Business Types of Business 1. Consultant (Sole Proprietorship) 2. Mom and Pop shop (same family) 3. Corporation FICA, Tax, Separate Tax, Sell.

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Presentation transcript:

Starting a Business Types of Business 1. Consultant (Sole Proprietorship) 2. Mom and Pop shop (same family) 3. Corporation FICA, Tax, Separate Tax, Sell Stock, Limit Liability, Separate you from company 4. Chapter S /LLC Jay H. SchlagStarting a Business1

Starting a Business Corporation 1.Officers (State) Pres., Sec. Tres. 2. Board of Directors Chairman of Board 3. Operational Officers CEO, Accountant, CTO Jay H. SchlagStarting a Business2

Starting a Business Stock 1.Founders Stock 2. Preferred Stock 3. Common Stock Rules can be different Reason to have stock Value, Dividend, Voting Power Dividend / Growth Jay H. SchlagStarting a Business3

Starting a Business Business Plan 1.What are you going to do 2. Cost Analysis 3. Risk Analysis 4. Market Analysis Jay H. SchlagStarting a Business4

Starting a Business Getting Money Into a Business 1.Sale of Product 2. Sale of Services 3. Loans 4. Stock Founders, Preferred, Common 5. Donations Jay H. SchlagStarting a Business5

Starting a Business Getting Money out of a Business 1.Salary 2. Dividends on Stock Jay H. SchlagStarting a Business6

Starting a Business Have an idea 1.CTO – You, Sell your idea to the corp. for stock 2. Lawyer – Set up corp. file patents (in return for stock) 3. CEO – Experienced – work for stock - invest 4. Marketing Manager - Experienced – work for stock Jay H. SchlagStarting a Business7 Founders

Starting a Business 1.Write a Business Plan 2. Form a Board of Directors (Invest) 3. Raise Capital 4. Hire: Other Technical People (Work for common stock) Accountant Director of Operations Jay H. SchlagStarting a Business8

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