Family Businesses Make Bosses Themselves.

First, a general plan for an enterprise must be prepared if it wants to succeed. That is a business plan that includes your goals and the time frame needed to achieve this goal.

The main provisions of enterprise planning include:

1, the industry you run, where the industry has prospects for development and how it will affect your business.

2, market analysis and research: to ensure that there is enough demand for goods and services to enable enterprises to survive.

3. Specifications for land, buildings and necessary equipment, including local regulations.

4, the number of people who need employment.

5, including the financial plan of balance sheet and sales profit forecast.

6, the company is faced with a summary of risks, such as the rising cost of raw materials, how to eliminate or reduce the impact of risk.

Before you set up your own company, you should consult accountants and financial managers.

Second. Calculate the funds needed.

The dream of establishing a small business requires capital.

Of course, running a family business will have some tangible business interests, including low management fees and cancellation of income tax (Part rent or mortgage interest, cost, property tax, equipment cost of company stock).

However, you still need to prepare and run enterprise funds.

The number of needs depends on the type of enterprise.

In practice, there may be relatively low income in the early stage of operation.

Internal expenses and rising fixed costs should also be taken into consideration regardless of income.

The costs to be considered are as follows:

1, set up family office desk, computer, fax machine and commercial telephone line.

2, professional services such as lawyers or accountants.

3, supply, raw materials, inventory or samples (if the finished products are sold).

4, suitable for family based comprehensive insurance, including personal, product liability to fire, loss, disaster protection, and even automobile, disability insurance.

5, the cost of banking services.

This should be taken into account unless you find a more cost-effective service paction.

6, registration fees.

Do you want to be the boss of a successful family business? Then, according to the above suggestions, make a master plan and self test for your work, and discover your potential.