At one time or another, many of us have entertained the fantasy of quitting the daily grind and starting our own business. I know that I have – purely to work from home in my PJs and fuzzy slippers! Therefore it shouldn’t come as a surprise that every year more than half-a-million people choose to indulge their entrepreneurial passion and start their own businesses.
According to a recent report by the Kaufmann Foundation, more than half of the companies on the 2009 Fortune 500 launched during a recession or bear market. So, given the past year or two, my guess is that many future Fortune 500 companies are currently being born in home offices, basements and garages throughout the country. It is these small businesses that will position our country for strong growth in the coming years.
Ok, so you have your million dollar idea. Now what? Coming up with the concept is just the first step of many that you will need to take when starting your new business. Consider finding a small-business counselor, or utilize free online resources, such as SCORE or the Small Business Administration to help you through this journey.
One of the next steps you’ll need to take will be to establish your business’s address. If you’re currently working at your kitchen table or garage, consider obtaining a private mail box (PMB) at a place like The UPS Store. Here’s why:
- You’ll be provided with a real street address, not a P.O. Box, for your business, which helps convey a more professional image. And, since you’re running the business out of your home, you don’t have to give out your home address, helping to protect your privacy.
- You can receive packages from any carrier and have them held in a secure location for pick-up at your convenience.
- Depending on the outpost, you may be able to arrange for e-mail or text notifications when you have a package waiting, lessening unnecessary trips to your mail box. As a small-business owner, your time is precious!
Who knows, maybe we will see your business on a future Fortune 500!