Add Up Articles Directory | Free Articles | New Articles Daily | Here is some tips if you want to establish your new business in Austin

I mean, in business where exactly do you start? Maybe with market research and product development or maybe you should start to hire staff.

For students this perhaps sounds especially familiar, more if you are one who has recently finished their studies and now is considering starting a new company. Even though you have got all the theory you won't have the experience of working for yourself and will therefore need some help.

So if you are a recent graduate and are living in Austin then here is a little advice to help you with your first steps in a new position and even to assess whether your idea for a business is in fact worth backing. This goes without say is something you should know before opening your doors and starting your business. Hence, experts at www.US.OfficeBroker.com have compiled at list of things to think about:

Firstly, take the advice of someone totally impartial. Just because you think the business is worth investing in doesn't mean it is. You can't just rely on your mum; you need to research the market and even talk to people with some experience of your particular industry. You really should take the time to talk to these types of people as they can assess your business and tell you how to move forward with it. Another option is trying to get a business loan from your bank manager, if they say "yes" then that one word could perhaps tell you that your company is worth investing in.

Then you should think about how many potential customers you are likely to have or the number of products you are going to sell. You need to have a clear idea of how much turnover you will generate and even how in demand your employees are likely to be. If you do this you will be able to...

...figure out how much profit you can expect to make. Are you going to be making seventy grand per annum, or maybe it'll be twenty instead? You will then be able to work out with some accuracy when it is that you will break even and even how long it will be until you make a profit. You can't afford to spend your business income before it has developed but you should rather have an idea of when it is best to spend money and when it will benefit the business.

What about your business overheads? If you are considering taking Austin office space, perhaps from www.US.OfficeBroker.com, then how much will it be to rent? And exactly how much square footage do you need? As well, think about how many staff you will need to make your business function and what amount of money will have to be set aside for wages. It is also a good idea to think about whether your firm needs reception staff and cleaning staff. All of these types of costs soon mount up. You may also want to think about how having an office in Austin will affect your outgoings.

After this consider other overheads, such as building insurance, energy bills, maintenance of IT equipment and new IT updates. And remember that when estimating a projection that you should always under-estimate any sources of income and over-estimate overheads, by doing this you will have an accurate idea of what you are likely to experience during your first year. It also means that if you expect your company to make a profit then you can be certain it is not because you have been overly generous with your estimates.

Before anything read through this advice again only then should you consider starting your business and take a viewing of potential Austin office space.