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    3 Replies Latest reply on Oct 24, 2007 9:44 AM by BDS INC

    Checklist for Starting a New Business

    doc1400 Newbie
      I am currently going thru a consultancy startup and have reached the point that I am concerned with identifying what I don't know about how to do the start-up - like most posters on this site.
      However it occurred to me that I could spend a career reading about doing it and still not feel comfortable with the process, not having done it before.

      My solution is a checklist that I feel is faily complete - a cookbook - so to speak.
      I am more concerned about identifying everything (or most things) I need to do rather than individual actions and in the order they need to be done. This could be called a systems approach to a business startup. (I am a process improvement engineer and feel "what is good for the goose is good for the gander"). :)

      My list looks like this.

      OWNERS CHECKLIST FOR STARTING A NEW BUSINESS

      1. BACKGROUND WORK
      ( ) assess your strengths and weaknesses
      ( ) establish business and personal goals
      ( ) assess you 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

      2. BUSINESS TRANSACTIONS
      ( ) Select a lawyer
      ( ) choose a form of organization (proprietership, partnership, or corporation)
      ( ) 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 businees loans (if applicable)
      ( ) establish a line of credit
      ( ) select an insurance agent
      ( ) obtain business insurance

      3. FIRST STEPS
      ( ) get business cards
      ( ) review business codes
      ( ) obtain a lease
      ( ) line up supplies (if applicable)
      ( ) get furniture and equipment
      ( ) obtain a business license or permit (if applicable)
      ( ) get a state employer i.d. number (if applicable)
      ( ) send for federal and state tax forms
      ( ) identify and join relevant professional organizations
      ( ) set a starting date

      I sincerely hope that this helps you "get your arms around what must be done" to have
      a successful start-up. Good luck.