The Hartford

Emerging Company

The Emerging Company

The Topic of Conversation: Important Questions and Steps to Consider as You Start Out

Questions.  You may have many in your head as you embark on the journey of running your own business.  Whether you're thinking about funding or compensation, taxes or insurance, this section will help you find answers and identify the types of advisors with whom to have these conversations.

Congratulations.  You've made one of the most important - and one of the most difficult - decisions of your life: to pursue your business dream. This guide is intended to help you to start having the right conversations - with the right advisors - to help you increase the odds of your success. 

No doubt there are many questions at this point.  Why did you start your business?  You may have seen an opportunity to make money by serving a market with potential that is not being served adequately by others. Or, it simply fulfills a dream. Whatever the reason, now is the time to ask these important questions.  And, it's also the right time to find the right experts to help guide you along this journey.

These questions will help you determine the types of advisors you'll need. 

Important Questions

  • What needs to happen before your business will be strong enough to give you a decent living, and how long will it take  to get to that point?
  • How much money does your business need to operate, and  where will it come from, before the business is self-sufficient?
  • Do you need financing, and where will you get it?
  • Can you operate the business alone or do you need a partner or employees?
  • What compensation and benefits must you offer to attract  the employees you need?

Your answers to these questions will help you plan for short- and longer-term needs - for your business and your own personal finance goals. While advisors are important to help with business finance, they're equally (or more) vital to your own personal financial health.

The right conversations with the right advisors are crucial at this stage.  They can help ensure that you keep the right focus on your personal and business goals and success.

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These materials provide general information, and should not be construed as specific financial, insurance, tax, legal or accounting advice.  You should consult a qualified advisor for individual guidance 
in these matters.  More details



Important Topics for the Emerging Company

  1. How do I best structure my company for success?
  2.  How do I estimate start-up expenses and identify sources of funding?
  3. How do I plan for cash flow crunch times and major contingencies?
  4. What type of coverage do I need to have in place at this time?
  5. How do I plan for my retirement and tax advantages at this stage in my company's life?