Are you planning to open a new business in 2009? Well, there’s a new website that might give you some incentive (or discouragement depending on your results).
The website, YouNoodle, is designed to give you a glimpse into your company’s financial value in 3 years. If you answer the questions honestly, you’re in good shape to have a realistic outlook of the future. BTW, I tried a second, non-existent company, and was able to set it’s value at 7 times my law firm’s worth, just by adding my high school mowing job, a wedding video service I ran in college, and my weekend DJ service catering to high school dances and weddings. None of these made over $100,000 in revenue, lasted more than 3 years, and are all "on-hold".
I also think that second company proves the meaning of entrepreneurship. If you’re willing to dream up and run all of these business, you’re probably going to be a successful entrepreneur.
If you’re interested in tossing around some business ideas, give our firm a call. We’re always willing to help fine-tune your business and review/revise your business plan based on the current legal market.
For more resources on entrepreneurship, you can also check out this site for a quiz to test your entrepreneurial skills. Also, visit the Small Business Administration’s SCORE site to get valuable resources for starting and running your business. I especially like the newsletters.
