Happy Valentineâ€™s Day or Single Awareness Day. Hopefully your week is going well.
Financing your Business â€“
What if youâ€™re idea for a tutor business is bigger. So what do you do to get some real money.
1.Â Â Â Â Â Figure out exactly how much you need. The first step is to get an idea of exactly how much you need. Letâ€™s say you want to rent a building, hire a couple of employees, go fulltime immediately and have some money for advertising. Youâ€™ll want to have about six months of expenses.
2.Â Â Â Â Â Decide who youâ€™re going to borrow from. Friends, family, yourself, a bank.
3.Â Â Â Â Â Create a Plan â€“ no matter who youâ€™re going to borrow from, youâ€™ll want to make a business plan. Even if youâ€™re borrowing from your family youâ€™ll want to be able to explain to them how theyâ€™re going to get their money back.Â Iâ€™ve included some links in the links you can use section that will help you create a business plan.
If you havenâ€™t been you need to be working on your taxes. You should have already figure out if youâ€™re going to owe on April 15th or not. Iâ€™ve mentioned this before, it is easy to be able to pay your taxes without having to stress about it. After you figure out what your estimated payments are going to be, divide that number by 8. Each week set that portion aside and youâ€™ll have plenty to pay your taxes. Youâ€™ll also have a bit set aside to help you grow your business.
Links you can use â€“
The SBA has a whole section dedicated to writing a business plan.
Entrepreneur.com also has a great section dedicated to business plans.
You can find all of our past articles here â€“
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Hope you have a wonderful day.