Lack of money is a poor argument for failure to try to succeed. There are always individuals or local lending institutions who will risk a small amount on a person who has a reputation for being industrious, provided you have a salable idea. After all, many big businesses were founded on little more than courage and fortitude.

But realistically, it may take more than courage, credit, and perseverance to keep a new business afloat. The first thing you will no doubt learn about financing, is that the less you need capital and backing, the less trouble you will have in getting it, and at a lower interest rate.

Many people in business think it's a good idea to be short on capital; after all, then there is no alternative except to make the most of what you have and to minimize your mistakes. They also say that then you can afford to test a number of your ideas with little risk; that it helps keep your mind flexible and forces you to watch and see if an offer will continue with its appeal after the novelty wears off. The point here is that people's needs and desires change with the times, and you can't continue to manufacture horse buggies for transportation when people have turned to cars.

Your banker can be your best friend, whether you take in hundreds or thousands of dollars each week. By arranging an appointment with him to explain your plans he can give you helpful advice on how to raise capital yourself, or even provide you with a loan if you are a good credit risk. You should, of course, have intentions of opening a business checking account with the bank (separate from any personal account you may have). When the money starts flowing in continue to keep your banker advised of your progress. Give your banker regular profit & loss statements so you can build up business credibility. Then chances are money will be readily available when you need money for expansion. Banks lend money on character assets as readily as on those that can be turned into cash.

Deciding on a business name is one of the first decisions you will have to make. Without a name you won't be able to have letterheads, envelopes, business cards, invoices, brochures, ads, or anything else printed up. You also won't be able to open a business checking account.

Try to choose a name that is easy to remember and describes what your business is. Using your name, or "Something-Associates," or "So & So Associates," won't give people even the slightest idea of what you do. The mane you choose should serve to promote your business.

You may be required to register your business name with your local county clerk as--"Doing Business As" (d/b/a), if the name you select is different from your legal name. The filing form is simple and requires a modest filing fee. Your d/b/a registration will usually be recognized for ten years. After you register, your business name will appear in your area newspaper and will also serve as an introduction of your new business.

The best way to determine what your prices should be is to check with the competition in your immediate area. If there is no other typing service, contact a secretarial agency in a metro area nearest you. And remember, what you want to find out is what an agency charges, not what a secretary earns.

The most recent national averages indicate that typing services range anywhere from $12.00 to $20.00 per hour, depending on what part of the country you live in. Determine what the market will support in your area, and set your prices accordingly. And remember, there's never a good reason to drastically under price your services. After all, if the quality is there you should get paid for it.

Once the word is out, you can begin to receive typing assignments from hospitals, lawyers, students, authors, and businesses of every conceivable kind. You will receive requests to type resumes, grant proposals, wedding programs, mailing lists, corporate reports, sales letters, cover letters, announcements, flyers, manuscripts, newsletters, ads, and much more.

There are literally thousands of typing job possibilities that require the services of a professional agency. Increasingly, companies are finding that it's far more cost effective to utilize typing services to move the tons of paperwork that must be processed. Executives are also discovering they can operate more efficiently and cost effectively by reducing or even eliminating secretaries and turning to typing services.

You don't have to be a speed-typist to get started in your own business. What is important is that you are accurate and dependable. That means no mistakes and following instructions. It means following formats, and meeting deadlines. Providing dependable service will be your best insurance for repeat business.

Before you accept every job that comes your way, you should have the knowledge and ability to do the job in a professional, competent manner. Only take jobs you feel comfortable with. If you feel comfortable doing resumes, then specialize in resumes until you feel ready to do reports and sales letters. Set a certain amount of time aside for improving your speed and accuracy. Never stop adding new typing services as you feel competent to perform them. Check with your local librarian who will help you locate some of the many books available in your business field.

If you want to gain secretarial/typing experience consider working part-time for a professional secretarial service, even while you are building up your own business. A part-time job may be all you need to become familiar with current methods, techniques, formats, and pricing structures. If you want to get some on-the-job training experience, refer to your telephone directory under "Secretarial," or "Typing Services."

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