Business: General Principles

When one starts a business, one believes or perceives that the business will continue to survive and exist year after year, otherwise it is meaningless to start a business at all.

When one starts a business one does so because one does not want to work and be controlled by someone else.

When one starts a business one does so because one believe or perceives that one can earn enough money with that business to pay one's bills and possible save.

When one starts a business one does so because they believe or perceive that their service or product is necessary to and for others and will continue to be necessary well into the future.

Basic Principles

1.   Generate a business plan

2.  Perform a market analysis

3.  Prepare Financials

• Income and expense statement
• Balance Sheet
• Cash Flow

4.  Secure Financing (partners)

5.  Develop customers

6.  Determine suppliers

7.  Determine the location

8.  Building:  build or lease

9.  Hire employees

10.  Begin Operations

PLEASE NOTE:  A business is not created to provide employment for people...  a business is created first and foremost for the purpose of making money and more importantly a profit...  and the minimum amount of people are hired to achieve that purpose.

Bill Gates started Microsoft to make money

Steve Jobs created Apple to make money

Zuckerberg created Facebook to make money

Pharmaceutical Companies are working on a COVID vaccine to make money