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302.652.4800

Phone Number : 302.652.4800

Industry News

Starting a business? Expect success to come in peaks and valleys

A new U.S. regulation requires U.S. Disregarded Entities (DEs) to file an additional information return for taxable years beginning on or after January 1, 2017.

A new U.S. regulation requires U.S. Disregarded Entities (DEs) to file an additional information return for taxable years beginning on or after January 1, 2017.

The purpose of every small business is to grow, at least early on in the company's lifetime. Growth equals success and businesses that grow early on often put themselves in position for long-term viability. But if one were to look at the growth of the most successful companies' early days, they wouldn't see a straight line trending up. There would be peaks and valleys. The growth process is inherently inconsistent and anyone who starts their own business will go through ups and downs. 

If only someone had told Steve Buskin this. Buskin runs a training and speaking business, and when he started his company he endured his share of ups and downs, just like everyone else. However, he admitted later that it was a bumpier experience than he anticipated. An article in Business 2 Community features conversations with a number of business owners who shared what they wish they had known when they started their company. Buskin told the news source he wish he knew his company's success would be so inconsistent. 

"I wish I'd known that it was going to be up and down," he said. "You never get used to the fact that your work, cash flow and even your self-esteem will fluctuate so much. You learn not to worry so much about it, but I wish I'd known from the word go that when work dries up, it doesn't mean that everybody hates you and you won't get work ever again. It's just the nature of business – it ebbs and flows."

Understanding this, as well as completing important tasks such as incorporating your business, can go a long way towards ensuring the success of your company.