Starting a business involves planning, making key decisions and completing a series of legal steps. But even if you don’t need an EIN, get one anyway: It’s free, takes minutes, and you can keep your Social Security number private and reduce the chance of identity theft, because if you don’t have an EIN, your SSN identifies your business for tax purposes.
The first thing you need to do is take the time to get acquainted with your machine and learn your machine and your capabilities with it. Start by making crafts for your home or playing around, familiarize yourself with your machine, see if you actually like it and this is something you can do all day and all night because if you begin selling your crafts, and are like me, you will live, eat, nap, drink, and socialize around your machine!
Additional: Companion CD contains numerous templates for building your business plan, calculating cashflow, preparing profit and loss, and balance sheets, preparing invoices, your resume and profile, marketing material, websites, contracts, and many other useful and motivational material.
Nevertheless, failing to spend sufficient time aligning a business plan to the strategy will mean that the business is also likely to fail, because one of the well-known factors in determining business success is that more than 80% of successful businesses have determined their overall strategy in detail, aligned the business plan, gone into each aspect of the business plan in detail, and repeat this strategic thinking process regularly amongst all the stakeholders.
And there are big companies, whose costs were reported to be in the $60-100K range just to start a business, and running costs are in $20-30K annually for maintaining programs and additionally compliance officer costs of usually more than $100K per year.