advice regarding starting a business, from business plans and modeling to funding. Before setting up my business we met with SCORE to understand how to conduct business in Phoenix.
When starting a business there are basically three ways that it can be funded: from your own money, venture capital, and/ or from loans. To obtain funding you must be able to show how money is made and spent. Understandably, it can be difficult to pinpoint cash flow details with accuracy when writing a
business plan for a new business. Calculate to the best of your ability. Your
business plan serves several purposes, not the least of which is to show
lenders how they will be paid back if they grant your business a loan.
Vivian Valenty, president of VB Cosmetics I nc. based in Phoenix, has great advice for people who are interested in starting a business. "I t is easier to obtain funding when you have assets to use as collateral for the loan. VB Cosmetics I nc. grew on revenues generated from its business. Only after
effort and equipment purchase for expansion. A track record of business profitability, company's cash and personal assets used as collateral were factors that led to funding."
Business is not only about money; it is also about your passion. Starting a
business takes a great deal of energy. I founded one of my businesses,
Accents By Allison, because I love great clothing, but mostly I love helping
women look their very best. Vivian puts it so poignantly when she says, "I
gathered and work that must be done when starting a business. These five
steps are pretty basic, but they were fundamental to getting my company up
and running successfully. I hope they are useful to you. Good luck in your
Contact your city's business license department to find out about getting a business
license, which essentially grants you the right (after you pay a fee, of course) to operate
a business in that city. When you file your license application, the city planning or zoning
department will check to make sure your area is zoned for the purpose you want to use it
This action might not be possible to undo. Are you sure you want to continue?