Choosing the Format of Your Business
Most start-up home businesses begin with a single individual or a couple setting
up a business, with a minimum amount of thought to the structure. You have a
product that you want to promote or you connect with an MLM company or you set
up a website to promote affiliate programs. Whatever your choice, you start out
with dreams of making a major income from your business.
Your primary interest is making money. You either are unaware of the legal
requirements of operating a business, or you procrastinate on implementing the
appropriate structure.
This article discusses the structure only from the standpoint of the numbers.
You can can find a great deal of information about the legal requirements, or
you can hire counsel in these areas. The numbers determine what structure will
be most comfortable for you.
You first need to determine your own motivations, talents and opportunities as
expressed in the numbers of your chart. Some of the numbers lend themselves
naturally to a partnership. The independent numbers push you into a sole
proprietorship. There is no right or wrong structure, but you will regret
pursuing a structure that does not fit you.
The first question is whether you are a person who needs to be in control. You
will gain a clue to this approach if you become frustrated by the rules and
regulations of your workplace. Do you need a boss to direct your work? Or do you
get the job completed most efficiently when you are left alone to follow
through? Do you disrupt the workplace by questioning the way things are done? Do
you have ideas that you would like to see implemented? Then chances are good
that your numbers incline you toward a sole proprietorship.
If you prefer to consult on each decision and you have the ability to create a
workable compromise when disagreements arise, you will probably do well in a
partnership.
A challenge arises when an independent business person has a mate who wants to
be an equal in the business. This partnership seldom works well. Not only the
business success, but the marriage itself may be at risk. The entrepreneurial
spirit needs a free hand to make decisions and to bear the consequences of those
decision.
Marriage is a partnership. So the independent oriented person needs to consider
the effect that starting a business will have on the marriage. Parameters must
be negotiated. How much of the grocery money can be redirected to the business?
The non- participating party often is reluctant to be generous. If the limit is
not agreed upon in advance each expenditure will be debated to the detriment of
the business. This situation becomes a de facto partnership that will stifle the
business.
If both marriage partners wish to be involved in the business, it must be
clearly understood that the independent person is the boss, whose decisions are
controlling. The other party must be willing to assume a subordinate role. If
both parties are too independent to allow this arrangement, then only one of the
parties should be involved in the business. Each may eventually create a
separate business.
The partner oriented individual prefers to share the decision making process.
This may be a person who does not entirely trust his or her own decisions
without the support of someone else. A partnership also shares the risk.
Partnerships may become necessary in order to share the specific expertise of
each individual, as well as to share the financial investment.
If both the husband and wife have partnership energies, this can be a workable
family partnership. Otherwise an outside partner may need to be sought.
Either the sole proprietorship model or the partnership model can be
incorporated. The incorporation can take place initially, or established later
in the process. If the corporation is set up at a later date, remember that a
corporation is a separate legal entity in the eyes of the law. A transfer will
need to be made and new books set up. Numerologically, you establish a new
founding date by incorporating. If you find that the numbers of the original
business are not optimal, incorporation is the one way to change the cycles. You
may want to keep this option open until you see how the business works out.
The emphasis of the numbers:
1 very independent. The true entrepreneur. Not a good partner
2 detail oriented, negotiator, non-confrontational. The quintessential partner.
3 usually not a good number for own business. Great salesperson, but avoids the
administrative duties. Works best for someone else, but needs freedom with the
job.
4 A hard working employee. Does the job well without supervision, but may be too
security conscious for own business.
5 Very independent. A wheeler-dealer type. Prefers to work alone.
6 The most balanced of the numbers. Can handle either a partnership or sole
proprietorship with equal skill.
7. Lacks the risk-taking spirit for own business. Analyzes each decision to
death before moving forward.
8 Can be an entrepreneur, but does better at the helm of a larger business. May
be too traditional and conservative for a start-up business.
9 Can be effective in own business provided that it has a strong service
orientation. A natural leader in a good cause, but can also be a good partner.
Often too idealistic for the business realm.
Most people have a combination of numbers, that may be in conflict. You most
likely are somewhere on the continuum between the fiercely independent and
totally cooperative energies. A true picture can only be found by considering
the full chart and determining the relative strength of the numbers. Along with
your attorney and your accountant, you may want to add a numerologist to your
professional consultants.
Whatever choices you make, we wish the best success for you.
© 2003 Daniel R. Hardt
President. Life Path Numerology Center, Inc.
http://www.lifepathnum.com
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