Private Journal Entry Lesson 4

Private Journal Entry Lesson 4 Concepts- I believe I do understand the process enough to start making steps towards starting a public accounting business. I can start now by researching legal structures to determine which one would be the best option for my business. I can also research how to finance the business and start connecting with people that could help me in the future processes. Connect- I haven't taken any steps to start my business yet, other than put myself through college. One thing that I can connect to another course that I took is the business plan. In a marketing course, we were required to write a 20 page business plan for a new idea for a business. This course material mentioned that the business plan must be unique to the business. I used other businesses plans to reference while constructing mine, but ultimately no one business plan is the same and there were many aspects that was unique to mine. Change- The course teaches about common mistakes that startups make, and one is knowing your market. One of my steps to start my business is gain new customers. I plan to start with people that I know and ask if they need an accountant to assist with their taxes. I am currently an intern at JLG and most of the people I know already do their own taxes. I would need to branch out and make connections with people who would need my service. Everyone should be filing taxes so I just need to find the people that can't do it themselves and are willing to pay for a service to do it for them. Challenge- I have a question about the business plan. The lesson states that no one can write a business plan for you. I know that writing a business plan is not my strong suit and I plan to ask for assistance. I'm not asking anyone to write it for me but could outside help change parts of my business plan that I may not want to?