• Decide if you have the personality it takes to be an entrepreneur. You will be your own most important employee, working long hours, and “wearing many hats”.
  • Consider which is more important to you…where you want to live, or what type of business you want to be in.
  • Decide what form of business ownership is appropriate (ie. Sole proprietorship, partnership, corporation, limited liability company).
  • Get advocates on board including experienced business owners, the SBDC, attorney, accountant, and banker.
  • Draft your business plan.
  • Look into any education and licensing needed for your business.
  • Consider legal issues, the economy, and the area’s attitude toward business.
  • Determine how many and what type of skills you are looking for in your employees.
  • Find a location for your business and decide if you want to own or rent. Consider all costs including taxes and utilities.
  • Determine your level of customer service (Will you accept returns? Exchanges? Gift wrapping? Alternations? Repairs? Warranties?)
  • Register your trade name. Look into any patents, trademarks, and copyrights.
  • Get a Federal and State tax id number.
  • Set up your books.
  • Obtain any necessary start-up capital.
  • Develop your marketing plan and budget.
  • Open a checking account and set up any required lines of credit.
  • Buy any needed equipment, inventory, and supplies.
  • Obtain insurance.
1 Comment
  1. Great. I like it. It teach me to obtain a good quality of service, This checklist and a tool I got from a businessmental, helped me in making my business more effective. Thank you.

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