THE INVISIBLE JOURNEY TO INDEPENDENCE 6

Hi everybody!  I love it when there is a little down-time in my schedule.  That allows me to write to you and catch up.  I am hoping each of you had a conversation with a counselor from the TW program.  I hope it was positively encouraging as well.  If not, do not let go of your dream.  Keep pushing the TW and asking relevant questions.  Keep up  with you independent research as well and there is a plenty to do before you open your business.  Ok, now that the business name is free to use, you will need to visit the State Department of Assessment and Taxation (“SDAT”) if you live in Maryland.  I preferred to go in person because I ask a lot of questions, but anyway, you can locate the link for “Trade Name Application” on their website. Complete the Application and mail it to the address listed with $25.00 (Check or Money Order).  Be prepared to wait about 6 to 8 weeks for your “L” number to arrive.  The “L” number is your business license identifier number unique for your business.  It is proof your business name is reserved and registered to do business in Maryland.  If you wish to have your Application expedited to get the number sooner, be prepared to pay an additional $50.00 ….

 

Ok, (snooze!) while we wait for the old “L” number, we can work on the Executive Summary and Mission Statement.  This is a statement about the goal of your business.  What will it accomplish?  Who will it target?  What product or service will your business offer?  Why?  It should be relatively brief … about 3 to five sentences or one paragraph each.  The Small Business Association (“SBA”) has information and Webinars to guide you in writing your Mission Statement.  I also like “eHow!"  However, there are tons of resources in libraries all around, too.  I recommend you write it out and turn the page and write it out some more.  When you are finished, read the last paragraph and summarize that last paragraph to create your Mission Statement.  This is because we typically start out talking about how we will change the world and our ideas flow.  Then the brain somehow begins to realize that’s an awful lot of change for one business starting out!  This is when you begin to speak specifically about how your business will positively impact the changes in the world today and how it will grow!  Whola!  Share it with trustworthy supporters for feedback and editing.  Once you are satisfied that the Executive Summary and Mission Statement are complete, they should be typed and placed in a folder titled, “Executive Summary & Mission Statement.”

 

Did I mention several times already that becoming an entrepreneur requires recovery from a mental health condition?  If you have not reached recovery, keep reading and preparing yourself for that big day!  This is a goal for anyone to set and aspire to accomplish.  YOU can do it!  Just stay the course as recommended by your doctor and or therapist:  TAKE your medications as prescribed!  Get plenty of sleep, exercise, and enjoy a healthy diet!

 

See ya soon,,