Still, for many new businesses, ideal initial choice is sole proprietorship or partnership, because structures are simplest and least expensive to establish. Limited Liability corporations are very popular and affordable.

In end, your choice of appropriate legal structure for your venture will depend largely on your individual circumstances, preferences, goals and needs.

Your Identity Package

Once you have decided on your business name, how you are going to set up your business, and have your license and zoning all covered, next step is your identity package. Getting your letterhead, fax sheets and business card done is a must. Our Partnering For Your Success students have all of our promotional materials, and are free to duplicate what we use. However, for those that do not main rule of thumb is to keep it simple, and to keep costs low. Don't go overboard with your business card, and keep your letterhead borders to a minimum. Everything about you does not need to be on your letterhead.

If you are not adept at designing these kind of items be sure you get professional help. Don't laugh or act like it doesn't matter. IT DOES! Your business card, letterhead and fax sheet, at times are going to be first contact you have with an individual, MAKE SURE IT IS A GOOD FIRST IMPRESSION.

Copyright DeFiore Enterprises 2002

Realistic goals can and must be set, you just need a plan. For example, in Lease Purchasing, as in any other business, goal setting is of paramount importance. You need to follow a plan, a plan for success. Short term goals and long term goals are part of this plan. Like many franchise businesses that have an outline for their franchisees to follow for a successful business, same should be done in lease purchasing.

To set these realistic goals and to obtain a good foundation, you need a program that provides you with support in start up and running of your business. Using our own Lease Purchase Coaching Program as an example, we schedule consultations that cover all students need to know to get started. We role play with students and have specific assignments giving them certain things to do, and certain goals to meet. If they follow program, and do their deals, they will be able to run their own successful business. We work with our students to accomplish above and to help them set realistic goals.

An example of goals in Lease Purchasing is number of deals you want to do, and how many calls or contacts you need to make to do that number of deals. How many consultations do you want to do, again, how many contacts you make will determine how many you get. Lease Purchasing like many other businesses is a numbers game. Make so many contacts, and/or calls and get so many deals. However, in order to do this, you have to make some goal making decisions and set realistic goals, not farfetched ones. Making a million dollars by end of six months is not a realistic goal. Making so many calls per day, per week, per month is, and then from number of calls/contacts you make, realize you are going to get so many responses, and from those responses make so many deals. A realistic income working full time first year is $50,000 to $75,000.

Following a proven method is of utmost importance. You don't hear of many Burger King or Taco Bell franchises failing. Why, because they follow corporate plan. The company will tell them there are no short cuts. If they want to succeed, they need to follow company's proven formula.

The people who fail in business are usually those who don't listen; don't want to follow a proven program; want to take short cuts; and who don't set realistic goals.

So remember, no matter what your business is, if you want to succeed you need to set goals for yourself ... and make them realistic.

Copyright DeFiore Enterprises 2001