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Starting a business is no easy task -- just walk to the nearest strip mall and see how many businesses have closed there in the past year. Luckily, there's a computer program called Business Plan Pro that small business owners can purchase to help them calculate the various costs of running a business, including the most important one: The start up cost. |
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Step 1 Purchase and load Business Plan Pro onto your computer. The standard edition retails for a little under $100. Once running, open the Starting Costs Calculator application. Step 2 The program will ask for the following numbers: (1) your initial expenses; (2) your cash reserve in the bank to be used before the company reaches a break-even level; (3) the price of the inventory that's needed to start your business; and (4) other assets, such as the price of improvements you plan on making to your business space. Step 3 Calculate all four numbers. These can be found through a combination of research (looking into similar companies to provide you with a blueprint for how much you'll need to spend on inventory and site leases) and gut-level predictions (how long you think it will take before your company breaks even). Consult a business adviser or colleagues who've opened up similar businesses. Step 4 Insert the numbers into the program where instructed and, after pressing enter, you'll have the amount of money needed to start up your new company. Good luck! |
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