Monday, December 28, 2009

First Seven Steps: Counting the Costs!

"What man builds a house without first counting the costs?"

This paraphrased question comes directly from the words of a very wise man. He influences and encourages many...I call him an expert!

These words came to mind just as I was starting to write this post. It makes perfect sense to about you? I mean, how are you going to build anything without first figuring out what it is going to cost you? Especially if you're going to build it to last.

There's no need to start your wedding planning business without a financial plan...a budget. If you don't have one, you will fail. Plain and simple. I can't stress this enough.

Invested properly, the money you've set aside for starting your wedding planning business will serve you well. Mis-managing it or treating your business as a hobby will only frustrate you in the end. I can talk to you about this one fact all day long...been there, done that.

Here are some of the questions to consider when calculating your start up costs:

*Will you build your business on a part time basis or are you going for it full time?
*How will you pay for living expenses if your choice is full time?
*Will you work from a home office or will you rent space?
*How will you market your business?
*Will you hire employees?

The answers to these questions and others will help you to determine what your start up costs will be. Take some time to really think about them and what they may mean to your business.

Next month, I'll examine some of the possible answers to these questions; share some tips and examples on how to determine your start up costs and point you to some other excellent sources I've used over the years to help me in my business.

Until then...

Aspire to Plan!


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