Startup Costs for Your Business.

About startup costs?

You know they’re not fun but it has to be done. You have to think about what’s gonna prepare you to have the biggest success that you can have. Absolutely. It’s scary too, right? Nobody wants to sit down and write down everything they think they might spend, every penny, where it’s going. And nobody wants to track it either, but it’s so important because if you don’t do this then you’re not gonna know where you stand and you’re never gonna be able to become profitable. And if that’s the end goal then you get there somehow.

So you think about startup costs. But the good news is there are gazillion templates online that are made just for this purpose. Absolutely If you have Office, Orbit Excel, there are a million different kinds of templates, specifically tailored toward startup cost. You don’t have to pull this out of thin air all by yourself. You can use resources, Forbes.com, entrepreneur.com. General resources online, SBA.gov, score, that’s gonna give you some big picture information, but you also need to get industry-specific.

If you are going to open a restaurant and you’ve never worked in a restaurant before?

You might want to talk to a restaurant owner and find out what some of those hidden costs are and fees or anything. Find somebody you look up to already or somebody that you trust there. See them and then get your networking in. Absolutely. Tap into that local network, friends, friends of friends people you meet at the airport, anybody.

Everybody’s got information to share. So if you do end up with a little bit of sticker shock, you know you’ve written everything down and you get to the bottom, you get to that one big number, and you are like holy. You’re gonna grab yourself a cup of coffee. You’re gonna sit back and relax and just Yeah, don’t panic. Breathe it in. Don’t panic.

You just need to go back to the top, right?

You need to bust out the template that you filled out with all of your startup costs and you need to start saying here’s what I need right now. And this is what I want to have. Yeah later on. We can wait on that. We don’t need to mocha Java 3000 right now. No, just a little French press. Yeah, little French press is good. The bottom line is it’s going to cost you money and it’s going to be scary.

It’s an investment though right?

I mean nobody’s gonna come and give you a bunch of money to start your own business. It’s not how it works. You’re going to have to invest something. You’re gonna have to cut back probably, scale back, but don’t be scared. Look at that list again. And you’ve already taken off the things that you might not need right now and it’s still scary. Yeah I mean maybe, do you need a new laptop right now? Can you maybe scrape by on the one you’ve got for another six months to a year? You know, maybe hold off on some things that you need, though you needed, but you could propel your business if you kind of used your resources a little bit. Where there’s a will there’s away. And if you want it you’re gonna work towards getting that. Absolutely. Ultimately start-up costs are not always fun but need to be done. Yeah, it’s going to be the busy part of your business, so make it happen. Absolutely.

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