From MarriedMillions.com, a video covering small business legal and accounting advice with Dr. Robert Yancy, a S.C.O.R.E. counselor, gives a great basic overview of the main things to consider when operating a small business. The key points include protecting your personal assets from business liabilities and determining how expenses and income relate. The advice is given with the assumption that the business has sufficient customers and assets to make concerns over profitability and liability relevant. Startups may wish to implement these ideas slowly as they get up and running especially if you're operating out of your living room and have little or no income at first but are only marketing or researching your product or service. Remember there are costs involved in implementing any of this advice so be sure you are not jumping the gun when moving forward.
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