One piece of advice to person starting own business would be

Do extensive market research to make sure there is a demand for your product. Be prepared to work the hardest you have ever worked - 7 days, all waking hours. Have at least three years living expenses in the bank or a spouse with an income that can cover all expenses. At least two years worth of start up money. Have no personal debt. Use debt only to make more money, never to pay personal expenses. Talk to a business counselor and write a business plan up with realistic numbers of how much you will need to invest and sell in order to make a living.

I know you only asked for one, but without all the above you cannot succeed.

Thanks.
Much appreciated.

Don't think it'll happen then...I'd have to drop my career and the 50 grand I spent on getting an unrelated education.

Yeah, you can't really have the career and the business separately unless you have a partner who is willing to do all the work.

But if it's what you want to do, my advice is to just go and do it. The details will find you -- usually when they want to be paid.

Whatever else you do, segregate your payroll taxes (assuming you employ anyone) and any monies due the employee's benefits (health insurance, pension, etc.). Never touch that money. When you write a paycheck, either pay the taxes and benefits immediately, or deposit them in a separate account for paying those obligations. In the United States, the most common charge on which employers are brought to court in a failed business is failure to segregate such funds.

Business wise I'd advice to form an S-Corporation,
establish good relations with your bank, have no employees at the beginning - if needed: outside payroll service (banks
have a minimal charge and it's worth the headache you'd
otherwise have), Workers Comp is a MUST, hire a good
accountant.

Everything else was mentioned already above.

What Green Witch said. Be sure you have lots of excess cash to start with - enough to carry the business AND personel expenses for at leaas 6 months.

If you can go it alone, fine. If you need employes, try to hold off till you need 6 or 10. One of them should be an experienced bookkeeper or accounting clerk II. If you use an outside bookkeeping service, do not ever let them have the privilage of signing checks and reconciling your bank statement. Not ever.

CJ, Candidone is not in the United States, i'm not certain the forming an S-Corporation is an option.

Oh, I apologize, I hadn't looked at the location of candidone1. Thank you Sentana

All that other stuff is very important, but some personal advice is what you wanted

Do not give up. Somtimes it takes a couple of years to hit stride and then things begin to happen. In the mean time many businesses just fold cause the owners lose the fire


Be flexible -Sometimes yiour business plan bears no resemblance to what you wind up with. I started out only doing exploration and geophysics and now Im almost entirely a resources consultant involved in Titanium. I didnt even know how to spell titanium.