Questions to Ask Before Starting a Small Business

Next Step for Business Podcast Series

Before launching a business, there are a number of questions you may want to consider before you get too far down the road. In this podcast, Bobby Hoyt, the Millennial Money Man, talks about the questions and details one should be thinking about before starting a small business. Check out the link below to hear from Bobby on the financial and logistical details to consider, the importance of having a mentor during the planning stages, and questions to consider about yourself and why you’re going into business.

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Meet the Speakerbobby hoyt

Inspired by a mentor to reach for more after starting and paying off his loans, Bobby Hoyt began a pursuit of all things personal finance. Unsatisfied with the financial condition of his fellow millennials, he applied his knowledge as an educator to his blog.

His mission is to encourage fellow Millennials (and generations beyond!) to adhere to four main principles:

  1. Live below your means until you don’t have to anymore.
  2. Don’t finance stuff you don’t need.
  3. Let your friends pass you up (don’t try to keep up with the Joneses)
  4. Work really hard, then make your money work for you

Through his work on Millennial Money Man, he hopes to help change the face of personal finance in Gen Y by challenging his readers to slay their debt, increase their income, and plan for their future.

Since quitting his band director job after earning $3 in ad revenues (a tactic he doesn’t recommend to students of his blogging courses) he has grown his blog to reach over 2 million readers each year. He’s a regular personal finance columnist for the American Psychological Association and has made appearances on major media outlets such as Forbes, CNBC, and MarketWatch. A firm believer in the importance of the side hustle (and an educator who values sharing his knowledge), he partnered with former high school classmate Mike Yanda to teach others how to grow their income by running Facebook ads, along with two other active blogger-focused courses at Laptop Empires.

Bobby lives in the Houston, Texas area with his wife Coral, their wonderfully strange dog Strider, and can usually be found on the golf course, or boating on some body of water when they aren’t traveling.

Listen to More Next Step Podcasts

This Next Step for Business Podcast is presented by Regions Next Step – advice, tools and resources to help you get closer to reaching your unique business goals. Next Step for Business can help you make smarter, more informed business decisions as you work toward your personal and professional goals. For more business guidance, visit our Next Step for Business page.

This information is general educational or marketing in nature and is not intended to be accounting, legal, tax, investment or financial advice. Statements of individuals are their own—not Regions'. Consult an appropriate professional concerning your specific situation.