"Starting a Business"

Let’s Get It Started

When starting your first business the toughest part of running the business is actually starting it. There is just so much that needs to be considered. Starting a business can be so overwhelming that you might actually try to talk yourself out of ever going through with it. But don’t give up!

Here is some information that will hopefully make your business start-up a little easier. To make things even more simple for you, we’ve provided a start-up checklist that will help put you on the right track. This list is by no means all inclusive; there are other items that may need to be considered before you start. However, we’ve included some of the most critical aspects:

• Evaluate yourself (are you qualified to start and run this type of business?)
• Determine your product/good/service (what do you want to sell?)
• Conduct market research (find out as much as possible about the market you’re selling to)
• Determine your start-up costs/financing (this can include anything from product production to promotional costs)
• Determine possible legal consideration (Will this be a partnership? Talk to a lawyer or accountant before you open for business -- if necessary)
• Determine name for your business
• Get business cards/promotional materials and other stationery (i.e., letterhead, envelopes, invoices, contracts, etc.) Get necessary office equipment (i.e., telephone, computer, fax, answering machine, etc.)
• Determine hours of business operation Create and implement your marketing plan (see creating a marketing plan web page)
• Purchase necessary business supplies (i.e, paper, paper clips, stapler, etc.
• Create and implement your public relations/communication plan (see creating a communication plan web page)
• Create a computer database that organizes and keeps track of your customers (i.e., a mailing list)
• Create a reliable filing system
• Purchase an easy-to-use business accounting software program (recommended: QuickBooks)
• Purchase an inexpensive desk-top publishing software program so you will be able to create your own brochures, flyers, cards, etc. (recommended for most easy-to-use: Microsoft Publisher)
• Determine your method of receiving payment (i.e., cash, check, and/or credit) Purchase your business license (usually under $50 -- depends on the state you’re in)
• Purchase insurance (if necessary) to protect your assets (see a good insurance agent for details)
• Identify potential personals pitfalls (i.e., What could stop you from succeeding?)