Starting a Business and Planning Steps
August 24, 2009 by admin
Filed under starting business
Plan Your Business
o Get Ready – mentally, physically, and getting together all the resources that will help you get started.
o Write a Business Plan – yes it’s necessary. The business plan will give you a realistic outlook and show you where a lot of attention needs to go.
Start Your Business
o Find a Mentor – ideally you’ll have another business owner in a parallel industry to help you get started. Small Business Administration in your area can help. Online forums can also help.
o Finance Start-Up- Talk to friends, family, banks and credit unions. Figure out realistic amounts of cash you need to get started and continue your new business until you get over the hump.
o Buy a Business – you might want to buy an existing business as part of your strategy. This can help in many ways!
o Buy a Franchise – Franchises can give you almost everything you need to get started – but they cost money. If you have money to invest this might be the best way to go.
o Name Your Business – don’t forget corporate name checks in your state, domain names and trademark searches on the name and words you use in your business name.
o Choose a Structure – LLC? Subchapter S? Our website has everything you need to make a decision… or you can talk with an accountant – just be sure to tell them you’ll register your corporation yourself here at this site to save yourself a few hundred to a thousand dollars or more !
o Protect Your Ideas – if you have something patentable or trademarkable… apply!
o Get Licenses and Permits – see county, state, and federal websites to see what you need.
o Pick a Location – You might be better off incorporating in another state. Florida has great aws to help small business owners get started.
o Lease Equipment – better than owning might be leasing. Look into it.
Manage Your Business
o Lead
o Make Decisions
o Manage Employees
o Market and Price – the internet is a great place to test prices.
o Market and Sell
o Understand Fair Practice
o Pay Taxes – again – your accountant can help keep you current on what you need..
o Get Insurance – health, workers comp, liability…
o Handle Legal Concerns
o Forecast
o Advocate and Stay Informed
o Use Technology – SEO, Social Media
o Finance Growth
