Steps to understanding the need for a financial planner: the key to a progressive Small Business

Written By Steps To Faculty Published April 8th, 2010

Starting up a small business is a task that needs long time of thinking, deciding, planning and expertise in order to utilize your investments properly. If one is done with that the second stage is calculating the amount of money which one needs to start up a small business. There are many options though in starting a small business but whatever option is selected it does require proper planning.

Step 1 Know what a financial planner does

A financial planner analyzes why one wants to start up a small business and the amount of cash one has in order to fulfill the job.

Step 2 Survey the market and the competition

For financial planning, one has to do a little survey about the small business the one is going to start, e.g. if you plan to open a burger shop, then take a look around your locality in order to know the competitors. The knowledge of what they cook, how they serve and their pricing lists would allow you to analyze and decide the requirement of your own small business. The list of competitors can be found anywhere: phone books, local, business development centers or chamber of commerce listings, etc.

Step 3 Know your customer base by using a financial planner

Analyze the target audience of the locality around your small business, e.g. in a community where there are more Chinese people living, a Chinese restaurant would be more successful than an Indian one. A certified financial planner would definitely save you from all the survey work to be done in the market, and since they are more experienced, they can guide you too. Usually most of the small businesses finance their companies by themselves. So, it is better to get help from a financial planner in order to use the limited budget efficiently.

It’s that simple. Remember, financial planning and market research are the key to success.


Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.