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Seahawk Seahawk is offline
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Join Date: Jul 2004
Location: Maryland
Posts: 31,749
What is your business type: LLC, S or C Corp, etc.? What type of accounting processes do you have?

Do you have a detailed, written business plan (https://guykawasaki.com/how-to-create-an-enchanting-business-plan-officeandguyk/)?

Have you done your five year financial plan including earnings before interest, taxes, depreciation, and amortization (EBITA) - if not, get started.

It is indeed now just a hobby unless you want to get serious...no one will lend you a nickle (maybe friends and family) unless there is a coherent business and financial structure in place.

The biggest limiting factor to growth is the ability to absorb the cost of doing business while waiting for payment from clients - access to capital in this instance is often called a bridge loan. You'll need the above and a recognized accounting system in place with a history. The fact that you have no debt is a major plus.

Get started now.

I love small businesses. Best of luck.
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Old 10-16-2018, 10:19 AM
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