This is for everyone who wants to start up a business, but doesn’t know where to start. We take you through step-by-step to help guide you.
Research
- Talk with friends and family about your idea.
- Search the internet.
- Does your idea:
- Solve a problem.
- Fulfill a need.
- Is there market demand?
Business Plan (Description)
- You need a plan to make your business idea to become a reality.
- Create a business plan which will act as a blueprint for you.
- This is a guide from start-up phase through establishment and eventually business growth.
Business Plan (Financials)
- Creation of spreadsheet to:
- Estimate one-time startup costs.
- Keep 12 months of expenses as a reserve.
Create Your Foundational Team
- Attorney
- CPA (Accountant)
- Insurance Company (Liability)
- Bank Representative
Choose Its Structure
- Types:
- Sole Proprietorship
- Partnership
- Limited Liability Company (LLC)
- Corporation
- This will impact
- Business Name
- Your liability
- How to file your taxes
Pick Your Business Name
- Create a list of names.
- Share potential names with friends and family.
Get Licenses and Permits
- Register your business (Tax-EIN)
- Potential small business license
Choose An Accounting System
- Helps run business actively.
- Creation and management of your budget to set your rates.
Set Up Your Business Location
- Types:
- Home Office
- Shared Office
- Private Office Space
- Retail Location
Get Your Team Ready
- Positions for the business.
- Creation of job responsibilities and description for each position.
Promote Your Small Business
- Once business is up and running, you need to start attracting potential clients and customers.
- Creation of marketing plan.