Wealthy Habitat

Where you stand

I want to start a business and do not know where to begin

If that is you, here is what this situation usually involves, in the order it usually comes up: the things worth checking, what each one is, and where the arithmetic for it lives. None of it says what to do.

  1. Who pays, how much, and for what, in one sentence, is the first thing a business has; the unit economics guide shows why.
  2. Break even with a salary for yourself inside it, and runway in months from the cash actually on hand, are the two numbers that tell a business from a hobby with a website; the calculators below compute both.
  3. A sole proprietorship, a single member LLC, and a corporation are the usual first forms; the business road explains what each is, and an attorney or CPA says which fits a particular case.
  4. A separate business bank account from the first sale is what makes the books readable; mixed accounts are what make them guesswork.
  5. Nobody withholds tax from a business owner's income, so a share of every payment set aside for taxes is how owners avoid the April surprise; the business road shows the arithmetic.
  6. A first customer tells more than a logo does; the starter road begins there.

Read these

Break even and runway: two numbers every owner should be able to say aloud
Unit economics: does one sale make money before you count the rent
An account is not an investment

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