Good Morning! I call this blog entry ” The Table of Contents” because it just lists some of the components you need to start a business. These are things I’ll be working on and sharing throughout my blog. I’ll add links to the sites you would need for these items as well. I hope you find this list of components useful and have a great day! :O)
1) Create Your Business Idea
a) Decide what type of business best suits you.
b) Use analysis to determine if your idea will create profit.
c) Write a business plan.
d) Research sources for start-up financing.
e) Develop a marketing plan.
2) Create Your Business Structure
a) Who owns this business?
b) What kind of business are you in terms of structure?
c) Would your business benefit from selling stock?
d) What type and level of legal protection do you need?
e) How will your business be taxed?
f) Don’t be afraid to go out there and speak to people in each business structure for advice.
3) Develop A Name
a) Create a name for your business.
b) Research the availability of that name to include its availability as a domain name online.
c) Check with your county clerk if you’re creating a local store.
d) Do a federal and state trademark search if you want to have your business operate regionally or nationally.
e) Depending on which level you choose you’ll need to register your business name to protect it.
4) Determine Your Business Location
a) Annotate the type of features your business would need at its location.
b) Determine what you can afford in rent and then analyze various neighborhoods for rent cost.
c) Check the zoning restrictions.
5) Permits and Licenses
a) Obtain a federal employment identification number.
b) Obtain a sellers permit to sell legally in your state.
c) Obtain a state license.
d) Obtain a local tax registration certificate and any local permits.
a) Look at the property you will be working from and what it requires in insurance.
b) Obtain insurance for any vehicles used for your business.
c) Obtain insurance for the location your costumers/clients will be coming.
d) Obtain insurance for your product.
7) The Books
a) Set up an accounting system.
b) Decide what your fiscal year looks like.
a) Learn the tax system for your business.
b) Learn what deductions you can use.
c) Look at the IRS’s tax guide for small businesses, starting a business and their tax calendar for small businesses.
photo credit: creativelenna via photopin cc
(I derived this list from: http://www.nolo.com/legal-encyclopedia/start-own-business-50-things-30077.html. If you have more to add to this list please share.)