Why Create a Company?

By Perry Fisher

You have a unique idea, you have a fresh product, you have a desirable service, why NOT start your own Asheville business?  Entrepreneurship is an exciting venture, and can quite literally change a person’s life.  There are so many great advantages to taking on such a project.  To start a business you need motivation, talent and desire.  You also need a strong business plan based on solid research. Entrepreneurs are capable of starting and growing a successful small business with the proper amount of education, hard work and experience.  Here are some reasons why starting a business might be a good idea for you:

You Are Your Own Boss

You answer to no one but yourself within the company.  Possibly the greatest advantage of starting your own business is being your own boss.  You do the hiring and firing, and no one can fire you, so your job security is in tact.  This is your “baby,” and you have complete control over all the major business decisions.  Now you have the chance to build a business in your own image.  If you're an innovative thinker with a lot of creative ideas this is especially important for you.  You get to choose the name of the company, the location, the employees, the equipment, etc.  By being your own boss, you also get to set your own hours.  You can put in the extra work where needed and work a 55 hour week, or just decide on a whim to take a few days off.  Other than your customers, there’s no one else to answer to, so either way, it’s your decision alone to make.

Independence, With Increased Income

Business owners have the chance to earn more, with more freedom and independence.  The opportunity for increased income may come from generating income from normal business sales, capital gains and royalties, or creating multiple income streams. Because these multiple revenue streams may be taxed at different rates, it allows entrepreneurs to use current U.S. tax codes to their advantage.  If a business is run efficiently and effectively, the potential to earn more money than a traditional job is there.

Low Start-Up Costs

Starting a business doesn’t have to be expensive.  It’s even possible to get started with just a few thousand dollars from your savings or with a small loan from members of your family.  If you’re running your business out of your home, your start up cost might be next to nothing.    Once you open your business and start generating revenues, you can write off many of those initial business startup costs at tax time.

Creative Control

The decision to start your own business probably had a lot to do with wanting to design something that represents you.  Your business image is your blank canvas and you paint it however you want.  How customers perceive your business is completely up to you, because you can market your business in the way you see fit.  Colors, logo design, space, furniture, etc., these are all creative decisions that need to be made.  You want your own personal stamp on all these decisions, and you have total creative control.

Increased Quality Control and Better Customer Relationships

As a business owner you will be able to oversee the products and/or services of your company.  If something isn’t working or if there are needed improvements, you have the control to make those immediate changes and therefore control the quality of your goods.  You will also have more interaction with your customers and have the ability to relate with them directly.  You’ll here first-hand what their needs and requirements are.  This will enable you and your team to improve the quality and the features of the product or services that you may be offering.  When customers see that their needs have been addressed, this can increase customer loyalty and further your business development.

Quality of Life

Most entrepreneurs started their business because they wanted to do something they loved, or were inspired by an idea they truly believed in.  The positive effects of working in an environment that’s important to you can without a doubt improve your quality of life.  You have the satisfaction of growing a successful business that didn’t really seem like “work” to you.

If these major points seem like good advantages to you, starting a business might be a smart option for you.  Starting a business is an investment in yourself, and an opportunity for personal growth.  You may have the potential for great success and the ability to work in a field that you are passionate about.  Be aware that there are substantial risks in starting and running a business.  With good legal representation these risks can be minimized or shifted.  If you are serious about entrepreneurship you may want to speak to an Asheville corporate lawyer about your business opportunities and the methods you can use to protect yourself from risks.  A good business attorney may be able to help you get started on the right path to personal and financial freedom.

If you have any questions or if we can assist you in your business needs please feel free to give us a call.  Perry Fisher, Brad Stark at Fisher Stark Cash, 828-505-4300.

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