Start a business with these steps

new business new business
  • Part 1: Business Plan

  • Do thorough market research on your industry/product

  • Hone in on trends, forecasts, opportunity/risks, competitors, etc.

  • Decide if it will be part time or full time business

  • Draft the business plan

  • Decide on company name

  • Legally register your company

  • Decide specific hours/days of operation for your company\'s services

  • Detail your company\'s monthly and annual budget

  • Organize ideas for company funding or raise finances

  • Meet investors and consult with your bank

  • Look into business startup courses or seminars to help you on the learning curve

  • Part 2: Ready To Go

  • Get a business license/permit & choose your legal business form (LLC, CO, etc.)

  • Finalize paperwork for the legal entity

  • Obtain your Employer Identification Number from IRS

  • Settle on formal company contact information (physical address, email, telephone, fax, etc.)

  • Open a business bank account with a trusted bank your area

  • Obtain a merchant account

  • Acquire a financial advisor

  • Acquire a legal advisor

  • Acquire business insurance

  • Acquire a tax advisor and/or accountant

  • Source a local notary

  • Familiarize yourself with regulations and compliance requirements

  • Register trademark, logos, patents, etc.

  • If functioning out of an office/store front (not home), source a real estate agent to assist with finding your business location

  • Sign & finalize lease contract for office/store front

  • Hire a moving company if you have much merchandise to move into your new location

  • Purchase all necessary new office equipment & supplies

  • Get high speed internet! Must.

  • Create a floor plan for your new office

  • Part 3: Up and Running

  • Choose an accounting software

  • Prepare a sales & marketing plan

  • Finalize your customer service policies (returns & exchanges, shipments, etc.)

  • Register a domain name for the new business website

  • Hire full-time or freelance IT consultants

  • Recruit for available positions in your new company (hiring a recruitment company, if necessary)

  • Utilize payroll services if you DO have staff

  • Familiarize yourself with labor laws if you DO have staff

  • Source a website hosting company and design the website

  • Source a website developer and graphic designer to assist in completing the website needs

  • Part 4: Short Term Prep

  • Hire an SEO consultant or company to increase your web presence

  • Publish online or print marketing material

  • Design marketing material for the storefront (if you have one) such as company cards, stationary, etc.

  • Always, ALWAYS take advantage of networking opportunities to help build your business

  • Work with a PR consultant or team to assist in publishing a "Launch" press release

  • Outsource customer service or phone call assistance, if needed

This checklist was created by workdiva

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