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SMOOTHING YOUR WAY TO SUCCESS WITH YOUR OWN BUSINESS
orders, but not so much that you have money tied up in excess product…money you can’t use for other business costs or investments.
Consultants
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It can be tempting to try to wear as many hats as possible to cut back on costs, but sometimes it’s best to turn work over to professionals. Accountants, bookkeepers, lawyers and other professionals can wind up saving you money in the long run by doing technical tasks right the first timeand spare you headaches and frustration.
STAFFING/CONTRACTORS
Solopreneur without staff should still budget for some level of personnel support. Even if you don’t have full- or part-time employees, you may need to utilize the skills of independent contractors — writ- ers, graphic designers, IT support, etc. –to keep your business running.
PERMITS/LICENSES/FEES
The costs associated with permits or licenses you’ll need to do business legally will vary based on the business you’re in, as well as your location. You may need professional licenses, licenses issued by the government that allow you to operate, or others.
Insurance
This is another one of those cost categories that’s going to be entirely dependent on your type of business. Most often you should acquire liability insurance to protect your personal assets during any litigation.
If you have more questions or need more guidance, connect with the Canton Regional Chapter of SCORE which serves both for-profit businesses and non-profit organizations in Stark, Tuscarawas, Holmes, Carroll, and Harrison counties. You can reach SCORE at www.score.org/canton or cantonscore@gmail.com or 330.451.6509.
SCORE Canton provides free and confidential business advice and counseling tailored to meet the needs of your small business and personal objectives. We also offer workshops for both start-up and in-business entrepreneurs. www.score.org/canton
Inventory isn’t something that every business has. Service businesses, for example, may have zero inventory. But if you carry inventory, you must figure out how to keep enough of your product on hand to fulfill Canton 330.966.9400 your maloneynovotny.com
