Soon you will find yourself deeply involved in reaching your marketplace, analyzing customer needs and imagining attention-getting promotional ideas. But first there are a number of basic organizational steps you should complete. There are just enough stories in newspapers and magazines about successful new business that were started on a “shoestring” to make you believe you do it also. These categories probably represent over 60% of your total family spending each month. Next add in important but postponeable expenses, such as new clothing or furniture, a vacation or going to the movies or out to eat. By the time you are done you will probably have 15 to 20 key expenses in the family budget. Put the total by category on one piece of paper and add them for a grand total. Make sure every family member understands where the money has been going each month. The first step in communicating all the wonderful things your business can provide is to create an identity for it by carefully selecting a business name and address. The county in which you live requires you to register this assumed name. The procedure usually goes as follows: Call your County Clerk’s Office and request an Assumed Name Registration form and ask the fee. Fill in all forms with the legal name of the business, its official address, your real name arid your home address. One of the forms may have to be notarized, so see the accompanying instructions.
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