Starting Point
disclaimer:
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Business Journey Stages Explained:
Think of starting a business like learning to cook your mom's secret recipe - something you've always wanted to master but never had the confidence to try while juggling work and family responsibilities.
The Real Business Journey Stages:
Dream - You have a business idea that keeps calling to you. Like watching cooking shows and thinking "I make better chili than that - people always ask for my recipe at potlucks." You know you've got something special, but it's still just an idea you talk about sometimes.
Fear - You want to try it, but the doubts are overwhelming. Like having people tell you to open a restaurant, but thinking "What if my food isn't actually that good? What if I waste my savings? What if I fail and everyone knows?" The fear of messing up something you love feels paralyzing.
Starting Up - You're ready to take the leap but don't know where to begin. Like deciding to cater your first event, but staring at your kitchen thinking "How much should I charge? Do I need permits? What if I can't cook for 50 people?" Every step feels like guesswork.
Growing - You're getting orders and building confidence. Like when you've catered a few events and people start calling you directly instead of just asking at church. Maybe you're booked every weekend. You're realizing this could actually work as more than just a side thing.
Established - You've got a steady business that runs smoothly. Like having regular catering clients who book you months in advance, and you can take a vacation without worrying about losing customers. You've mastered your systems and built something reliable.
Time to Ramp Down - You're thinking about stepping back or trying something different. Like when you're tired of working every weekend and want to spend more time with family, or maybe teach cooking classes instead of doing all the cooking yourself.
Business Structure Explained:
Think of business structure as to define responsibilities for everyone involved - each structure has different rules about who's responsible when things go wrong. We will use cooking as business.
The Business Structure Types:
Sole Proprietorship - You're cooking everything yourself in your own kitchen. Like making your signature chili at home and selling bowls to neighbors. Simple to start - no special paperwork needed. But if someone gets food poisoning, they can come after your house, your car, everything you own personally.
LLC (Limited Liability Company) - This puts a protective wall between your cooking business and your personal stuff. Like having a separate kitchen space that protects your home if something goes wrong with a catering job. If the business gets sued, they can't take your personal car or house. Most people doing food business want either Sole Prop or LLC.
Partnership - You and a friend or family member cook and run the business together. Like you make the chili and your partner handles the orders and delivery. You split the profits and losses, but you're also both responsible if anything goes wrong. Need a clear agreement about who does what.
Corporation - The most formal setup, like opening an actual restaurant with investors and a board of directors. Offers the strongest protection for your personal assets, but requires lots of paperwork, annual meetings, and tax filings. Usually overkill unless you're planning something really big.
Bottom Line: Start with Sole Prop or LLC. LLC costs more upfront but protects your house and car if something goes wrong.
Why We Ask:
Someone in the Dream stage needs to know if people would actually pay for their idea. Someone in Fear needs to understand what the real risks are versus what they're imagining. Someone Starting Up needs to know what their first actual step should be this week. Each stage requires completely different guidance.
Why We Ask:
Different business structures need different advice. Someone with a sole proprietorship might need help with basic tax questions, while someone with a corporation might need guidance on shareholder agreements.