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    3 Replies Latest reply on Apr 15, 2009 7:25 PM by phanio

    Starting a New Business: what are the initial steps?

    kawaii.diva Newbie

      My husband and I are interested in starting a business. We have a great idea and did some generic benchmarking. Now we need to know what's the next step? Besides a business name already picked I'm not sure what would be wise to do next?

      We believe an LLC would best suit our goals, but what criteria should be met to actually verify if this is best for us?

      We know we need to create a business and marketing plan, get licensed through the state (if we choose anything other than Sole), get a loan, confirm on a location, get insurance, lawyer and so forth...we just need to know in what order does all of this get done and of course..what have I missed?
        • Re: Starting a New Business: what are the initial steps?
          LUCKIEST Guide
          Starting a New Business, Welcome

          Who are you?? Go to Members page and share some info

          Do you know about SCORE> SCORE is FREE and will answer all your questions FREE
          • Re: Starting a New Business: what are the initial steps?
            BizOptimizer Adventurer

            You are asking questions you probably don't want to trust to answers on a forum. SCORE is a good free place to start - I found SBDC (Small Business Development Center/Council/Whatever) is a more timely, consultive approach - and they have great resources on MANY types of companies. As I understand it, SBDC's get paid to work with you.

            They are usually affiliated with a College or University. You can Google with your town/state. So many people go into business with an idea - some are lucky enough to make a profit. Then they wonder what happened when a bump in the road takes the wheels out.

            Regardless of how good your idea is, you either need to have - or have access to detailed business knowledge - marketing, sales, finance, operations management, HR management. Good luck!

            • Re: Starting a New Business: what are the initial steps?
              phanio Pioneer
              Have to agree with BizOptimizer - But don't pick one over the other - use both. The SBDC is good at helping with business plan development - local market research - and generic business questions (maybe some legal questions). Use SCORE to find a counselor (do this online) that has experience in your industry. This person can answer more specific questions and possible help you open some doors. Also, go to your chamber of commerce and see what other resources there are locally for your new business venture.

              Business Money Today