In this episode of the GPS to Your Business Success podcast, we dive into the essential steps for turning your business idea into a reality. Key topics include setting clear goals, building a strong team of advisors (such as a CPA, attorney, insurance agent, and payroll provider), and understanding different business structures. We also emphasize the importance of integrity, managing expectations, and sound financial planning. Additionally, we offer practical tips on purchasing an existing business, structuring the purchase for tax benefits, and ensuring the proper legal and financial foundations are in place. This is part three of a four-part series covering picking, starting, financing, and selling your business.

Episode Breakdown:

• 00:00 – Introduction and Episode Overview
• 02:05 – Sponsor Acknowledgements
• 03:10 – Launching Your Dream Business
• 05:41 – Building Your Dream Team
• 07:06 – Legal and Financial Considerations
• 08:59 – Payroll and Insurance Essentials
• 12:33 – Making an Offer and Due Diligence
• 17:32 – Choosing the Right Business Structure
• 20:59 – Conclusion and Next Steps (Episode 10)

Special Thanks to Our Sponsors: Steer CRM and Auto Shop Answers

Steer CRM helps auto repair shops attract new customers and keep existing ones coming back for regular maintenance and service. Discover more at steercrm.com.

Auto Shop Answers is an industry-leading automotive shop training program led by Todd Hayes, COO of Adams Automotive in Houston. Learn more at autoshopanswers.com.

Connect with Papakyrikos, CPA: The GPS to Your Business Success

• Visit us online: www.papakyrikoscpa.com
• Email us: Podcast@papakyrikoscpa.com