Mindset Monday: My Personal Experience with the Costs of a New Business

Starting a business can be filled with time, heavy workload, and high costs depending on the industry. In my personal experience, there are many costs that occur in the process of starting a business that include the four types that are needed to be filed upon starting one:

-Sole proprietorship

-Partnership

-Limited Liability Company

-Corporation

These costs can vary depending on state and are important for startups to do upon establishing the business. (They usually exceed $50)

Some other costs of getting a business off the ground can include

-Business cards $20 and up

-Website design/hosting $25 and up

-Logo design $10 and up

-Advertising $20 and up

-Business merchandise $25 and up

*The prices listed above can vary depending on how large someone decides to go.These five items are extremely important for at least getting your business to a launch phase when speaking of just costs.

But, did you ever think companies can startup for $100 or less? In a book I recently read, called “The $100 startup,” it is indeed possible. It discusses how companies first began, how much they paid for them and other important details. I HIGHLY recommend reading this book if you have ever thought about starting a business, as well as “Start your own business, Sixth Edition,” which is another fantastic guide that talks about starting up a business in an overall sense. Below are associate links to where you can buy them from Amazon directly with two day prime FREE shipping!


In conclusion, there are many reasons holding people back from creating their own business, one of them being that they are inexperienced on how to start one in the first place. It can be extremely easy to just assume that it will be rather cheap to start one, but in reality, costs can hit you out of nowhere and they just add up. It is important to know what someone can be getting into when starting a business so leveraging your resources, as well as not being afraid to fail is a MUST!

Matthew Engel