The prospect of starting your own business can be exciting and scary at the same time; however, with planning, it can be a time of personal satisfaction and reward. Following this simple checklist can help you stay organized and ensure you stay on track.
- Write a Business Plan
- Obtain Start-up Capital
- Set-up a Legal Business Structure
- Obtain a Federal Employer Number (EIN)
- Satisfy Business Licensing Requirements
- Establish a Web Presence
- Develop Business Collateral, Logos, Letterhead, and Branding
- Open a Bank Account & Merchant Account
- Identify Where to Get Help for Accounting, Legal, and/or Board of Advisors
- Ensure Compliance with Government Rules & Industry Regulations
While there is no guarantee for success, following this checklist will greatly reduce risks and keep you working on growing your business. A good understanding of these issues in the initial stages of your business will help to avoid costly mistakes. Be sure to explore the resources shared in this startup guide, there are plenty of organizations and individuals in the area who can help you navigate the exciting, and sometimes daunting, process to starting a new business.