Background Work

•  Assess your strengths and weaknesses
   
•  Establish business and personal goals
   
•  Assess your financial resources
   
•  Identify the financial risks
   
•  Determine the start-up costs
    
•  Decide on your business location
   
•  Do market research
   
•  Identify your customers
   
•  Identify your competitors
   
•  Develop a marketing plan

 

Business Transactions

•  Select a lawyer
   
•  Choose a form of organization (proprietorship, partnership, or corporation, for example)
    
•  Create your business (register your name, incorporate the business, etc.)
   
•  Select an accountant
   
•  Prepare a business plan
   
•  Select a banker
   
•  Set up a business checking account
   
•  Apply for business loans (if applicable)
   
•  Establish a line of credit
   
•  Select an insurance agent
   
•  Obtain business insurance

 

First Steps

•  Get business cards
   
•  Review local business codes
    
•  Obtain a lease
   
•  Line up suppliers (if applicable)
   
•  Get furniture and equipment
   
•  Obtain a business license or permit (if applicable)
   
•  Get a federal employer identification number (if applicable)
   
•  Get a state employer i.d. number (if applicable)
   
•  Send for federal and state tax forms
   
•  Join a professional organization
   
•  Set a starting date