Running your own business

They don’t teach you in school about running your own business. They may naively and ignorantly promote being on your own or starting your own firm, but they do not tell you how difficult it is to begin, and more importantly sustain, a company. Here are a few things to consider before jumping:

Employees – Hiring them, firing them, finding them, keeping them, befriending them, relating to them…

The Office – Should I lease, should I own, how much square footage, what location, what about signage, should I be downstairs or upstairs …

Technical Capabilities – How many and what kind of computers, how many and what kind of printers, how many and what kind of phone system, how many and what kind of cellular phones, how many and what kind of computer programs (there’s Autocad, Revit, Archicad, Sketch-up, Photoshop, InDesign, 3d Studio Max, Rhino …), should I video conference, should I back up on a server …

Insurance – Do I get general liability, professional liability, workman’s comp, auto, health, dental, eye, for my leased equipment, disability …

Projects – Should we focus on residential, commercial, renovations, new construction, locally, regionally, nationally, internationally, small ones, large ones, municipal ones, industrial ones …

Accounting – Am I a corporation, a partnership, should I use Quickbooks, what about a bank, payroll, sales tax, unemployment, 941s, W-9s, K-1s …

And this is just the tip of the iceberg …