|
Being a Provider is a business decision. It says that you are willing to take the necessary steps to start a business and manage it properly. Starting and managing a business takes motivation, desire and talent. It also takes research and planning.
To increase your chance for success, take the time up front to explore the links below.
Remember! It's your business!
CareStar is not your employer. We do not issue W2s or Employment verification.
Are you a current Provider who wants to voluntarily surrender your IP Number!
All Providers wishing to surrender their Provider Number may do so by contacting
ODJFS at 614-466-6742
________________________________________________________________________
Getting Started – Pre Business Plan
Before starting out, list your reasons for wanting to go into business as a Provider. Some of the most common reasons for starting a business are:
You want to be your own boss.
You want financial independence.
You want creative freedom.
You want to fully use your skills and knowledge.
Next you need to determine if this type of business is "right for you." Ask yourself these questions:
What technical skills have I learned or developed?
What do others say I am good at?
How much time do I have to run a successful business?
Then you should identify the niche your business will fill. Conduct the necessary research to answer these questions:
Is my idea practical and will it fill a need?
What is my competition?
What is my business advantage over others?
Can I deliver a better quality service?
Can I create a demand for my business?
The final step before developing your plan is the pre-business checklist. You should answer these questions:
What services will I provide?
What is my service area?
What skills and experience do I bring to the business?
What will be my legal structure?
What will I name my business?
What equipment or supplies will I need?
What insurance coverage will be needed?
What financing will I need?
What are my resources? (accountant, tax preparation, marketing support, bank etc.)
How will I compensate myself?
|
______________________________________________________________________
Your Business Plan
The following outline of a typical business plan can serve as a guide. Breaking down the plan into several components helps make writing it a more manageable task.
Introduction
Give a detailed description of the business and its goals.
Discuss the ownership of the business and the legal structure.
List the skills and experience you bring to the business.
Discuss the advantages you and your business have over your competitors.
Marketing and Sales
Discuss the services you offer.
Identify the customer demand for your service.
Identify your market, its size and locations.
Explain how your service will be advertised and marketed.
Understand the reimbursement rate and/or explain your pricing strategy.
Financial Management
Explain the amount of start-up money you will need.
Develop a monthly operating budget for the first year.
Develop an expected return on investment and monthly cash flow for the first year.
Provide projected income statements and balance sheets for the first year.
Discuss your breakeven point.
Explain how you will be paid.
Discuss who will maintain your accounting and tax records and how they will be kept.
Provide "what if" statements that address alternative approaches to any problem that may develop.
Operations
Discuss insurance, (health, auto, etc) and issues pertinent to your business.
Account for the equipment necessary to produce your products or services.
Account for delivery of services.
Commitment
Summarize your business goals and objectives and express your commitment to the success of your business. |
________________________________________________________________________
For more information on starting your business visit:
The 1st Stop Business Connection - State of Ohio
A program sponsored by the Ohio Department of Development's Small Business Development Centers and the U.S. Small Business Administration. It provides FREE state-level information needed to get started or continue on your entrepreneurial journey.
The Small Business Administration -(SBA) U.S. Government
The SBA provides small business counseling and training through a variety of programs and resource partners, located strategically around the country.
SCORE
The SCORE Association (Service Corps of Retired Executives) is a resource partner of the SBA dedicated to entrepreneur education and the formation, growth and success of small businesses nationwide. There are more than 10,500 SCORE volunteers in 389 chapter locations who assist small businesses with business counseling and training. SCORE also operates an active online counseling initiative.
Small Business Development Centers (SBDC)
This training resource is a cooperative effort of the private sector, the educational community and federal, state and local governments. It is SBA's largest resource partner and an initiative that enhances economic development by providing small businesses with management and technical assistance. There are more than 1,100 SBDC lead and service centers located around the country.
Women's Business Centers (WBC)
Women's Business Centers represent a national network of more than 80 educational centers designed to assist women to start and grow small businesses. WBCs operate with the mission to level the playing field for women entrepreneurs, who still face unique obstacles in the world of business.
SBA District Offices
In addition to its resource partners, the SBA operates full service district offices in every state of the country. Locate the district office closest to you
Remember!
It's your Business!
| 
