WHY? Starting a company at a young age sounds ideal right, let it mature as you get older and maybe your business plan will work out for you. Truth be told, starting your own company is tough, especially when your background has nothing to do with business management. From filing for incorporation to paying your employees/contractors and executing a business plan is something that every entrepreneur has to learn, and learning these things can be an expensive nerve racking experience. Going off my own experiences if I could back in time, I would have waited to start WKGS with a few business partners who were older and and actually had some experience dealing with start ups. There’s lots of things a CEO has to deal with in order to keep his company afloat, especially during the start up phase when your initial seed money is on the verge of depletion. We had expenses that could have been reduced during the start up phase if someone on our team had prior knowledge of particular subjects. For example, I paid LegalZoom to set up our LLC, they did a decent job but they made us pay for ALOT for their services. Where as if I knew what I was doing when filing for an LLC, it wouldn’t have cost us more than 100 bucks!
March 23, 2016 \ Business \ 0 Comments