So, you’re thinking about opening a little shop around the corner where your friends can always find the bauble of their dreams or, perhaps, a charming little bed and breakfast to be your own vacation paradise. Related: Lack Experience In Your Preferred Business? Try A Franchise Maybe you’ve got the TV ideals in mind, like the bar in “Cheers” — “Where everybody knows your name” — or the little Vermont inn that Bob Newhart called home for years. But running a business is much more than sugar plums and fairies. Your most important consideration: The business of the business. While it’s good to have lots of ideas and a passion for creating a business you enjoy, you don’t want to skip the mundane-but-essential practicalities. The danger: Instead of getting the business of your dreams, you may end up with an efficient mechanism for draining your savings.
August 05, 2015