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

2.  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

3.  Executive Summary  Marketing Analysis  Competitive Analysis  Strategy  Product/Service  Marketing and Sales  Operations  If needed, your funding request  Financials Great resource is the SBA @ http://www.sba.gov

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

5.  Mortgage  Business Loan  Family Loan  Credit Cards  SBA VV  Online Prosper  http://www.prosper.com/ http://www.prosper.com/ Virgin Money (formerly Circle Lending)  http://uk.virginmoney.com/virgin/ http://uk.virginmoney.com/virgin/ Zopa  http://uk.zopa.com/zopaweb/public/borrowing/borrowing-at-zopa.html http://uk.zopa.com/zopaweb/public/borrowing/borrowing-at-zopa.html

6.  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 www.irs.govwww.irs.gov

7.  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  Email marketing

8. 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

9.  Your library  The internet – wealth of information and free training, free tips and recommendations:  http://www.toolkit.com/ http://www.toolkit.com/  http://www.openforum.com/ http://www.openforum.com/  http://www.sbtv.com/ http://www.sbtv.com/  http://www.sba.gov/category/navigation-structure/starting-managing-business http://www.sba.gov/category/navigation-structure/starting-managing-business  http://www.tannedfeet.com/ http://www.tannedfeet.com/  http://www.irs.gov/businesses/small/index.html http://www.irs.gov/businesses/small/index.html  http://www.fortune.com http://www.fortune.com  http://www.tax.gov/virtualworkshop/ http://www.tax.gov/virtualworkshop/  http://www.irs.gov http://www.irs.gov  http://www.sec.state.ma.us/ http://www.sec.state.ma.us/  http://www.inc.com http://www.inc.com  http://score.org http://score.org  Publications:  Fortune  Money  Inc.  Entrepreneur  Trade Publications  Accountant  Lawyer  Bank  Payroll Company

10. Sullivan and Gannon, LLC 22 Central Square Chelmsford, MA 01824 www.sullivangannoncpas.com