Business Startup Checklist

Starting a business is definitely not a child’s play and at the same it is not a Herculean task either. If you have a plan, adequate funding and the knowledge to set it up with appropriate marketing and business development skills – then you are on the right path! The key to setting a new business from scratch is to be organized and most importantly to “prepare a checklist”.

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  • The Entrepreneur Checklist: Ready to start a business?

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  • Why do you want to be an entrepreneur?

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  • Do you possess the required business skills?

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  • The Idea Checklist: What will be a good idea?

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  • Make a list of your hobbies, skills, and talents.

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  • Make a list of the business ideas you thought of or felt passionate about.

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  • Brainstorm, narrow down and decide.

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  • The Market Analysis Checklist: Will the idea work?

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  • Analyze the customers.

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  • Analyze the competition.

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  • Analyze the opportunities

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  • Business Plan Checklist: The final step before launch!

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  • Choose a business name for your venture.

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  • Prepare a short and succinct introduction about your business.

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  • Prepare a mission and vision statement.  

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  • Write an introduction about the promoters.

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  • Provide information about the business model.

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  • Compile financial estimates.

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  • Add a professional touch by creating a power point presentation for your business.

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  • Finance Checklist: Is there money to start and sustain the business?

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  • Will you be using your savings?

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  • Use the resources and fund from a friend by partnering with him/her? 

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  • Will you generate funds from family and friends?

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  • Will you seek assistance from venture capitalists, private equity firms, angel investors or others?

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  • Will you seek bank loan?

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  • Will you seek assistance form NGO’s or institutions that assist new business startups with seed funding?

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  • Legal Checklist: Will you legally safe?

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  • What business entity to choose? Know the advantages and disadvantages.

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  • Will you require any tax registration?

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  • Will you have to file periodic returns to government?

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  • Will the business require trademark or copyright or patent registration?

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  • Are there any special licenses required from regulatory authorities?

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  • Are there any licenses or registrations required from state or central government?

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  • Launch Checklist: Taking the first steps.

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  • Decide on the location you wish to set up your business at.

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  • Recruit smart and talented individuals and professionals. 

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  • Advertise your business

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  • Receive feedbacks from customers and employees.

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  • Dedicate time to constantly upgrade yourself with the latest market trends.

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