There is a lot to think about when you are starting your own business. The following checklist is intended to help you start.
General Start-up Activities
- Determine the business you want to start and assess:
- Your qualifications for the business
- The feasibility of making that business profitable
- Apply for a federal Employer Identification number.
- Conduct research on your industry, target market, and competition.
- Select a location and analyze it for traffic, parking, and customer and delivery access.
- Investigate all start-up procedures specific to your industry.
- Write a business plan that includes your strategies for management, marketing, production, and financial contingencies.
- Develop a list of all potential monthly expenses.
- Determine potential sources of financing for your type of business.
- Develop a list of all equipment and purchases required to start your business. Identify the costs of each.
- Secure financing, if needed.
- Establish a bank account for your business.
- Establish record-keeping procedures for financial management, marketing, personnel, maintenance, etc.
- Research potential suppliers and investigate credit terms with each.
- Develop descriptions of all duties within your firm and determine
the person responsible for each. Identify future educational needs.
- Secure insurance for your business.
- Contact us for confidential, individual, no fee consulting.