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| Business Plan |
Question:
I'm a student at Stony Brook University
here in NY. I'm taking an entrepreneurship
class, and for a project we have to
come up with a business plan and a
mock loan application. I decided my
business should be a consulting firm,
so if anyone can give me any tips
on startup costs, issues, and permits
involved in starting a firm please
give me a personal e-mail. I would
appreciate if I could view someone's
business plan as well.
Answer:
How about a different approach? Try
going back to the instructor and telling
them that you're too smart to go put
yourself in the hole when starting
out a business. Taking out a loan
to start a consulting practice is
stupid, IMHO. Start small and be aggressive
in your collection habits. Any instructor
that would make it part of their curriculum
to teach me foolish money management
wouldn't remain my instructor for
long.
It all depends on how you work it.
El Cheapo Scenario: Let's say you
get a client who pays all your expenses,
e.g., lodging, travel, meals, car,
etc and let's say this client has
its own hardware and software they
want you use. You just walk
in, do the work, and walk out. The
only cost would be a state and/or
federal filing fee for your business
license.
One thing to remember is that it's
rare when a college student can graduate
and start a consulting business
if he/she is the consultant. People
pay for experience.
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