Small Business Start Up Checklist: 5 Crucial Steps When Starting A Business

Every new business needs a small business start up checklist. This list will not only keep your business running smoothly, it will also help you have more organization in your company.

As an entrepreneur, you might want to do things your way, but it can’t hurt to learn a thing or two from the people who have already gone through the path you’re just about to embark on.

Below is the small business start up checklist compiled from different businesses.

1) Create a Business Plan.

A business plan is the heart and soul of every business. Before starting your business, you first have to know what you want to happen and how you can make that happen. Nothing spells disaster more than a business without a concrete plan.

2) Register Your Business Name.

One of the first things to tick off in your small business start up checklist would be the name of your business. You might not think that this is a big deal, but it is one of the first steps you have to take before you can start operations.

Once you have chosen a name, register it with the appropriate organization. Make sure to think of two or three more names just in case the name you want has already been chosen.

3) Meet Legal Requirements.

Starting a business as an adult is not the same as starting your own lemonade stand when you were in grade school. Included in the small business start up checklist is meeting legal requirements.

Now that you want to legally operate your business, you’re going to have to fill out a few documents and make whatever arrangements are necessary. This also includes obtaining the appropriate licenses and permits.

4) Choose a Bank for your Business.

When starting your own business, you naturally have to choose a bank to help you with your operations. You might need the bank when asking for a business loan or when you need to open a business account.

If you have your own accountants, it is also advisable that you consult with them regarding the bank they are most comfortable and familiar with.

5) Create Risk Management.

You have to be ready for emergencies. In case plan A doesn’t work, be sure to have plans B, C and even D lined up. What are you going to do when your business doesn’t skyrocket as you predicted? How are you going to deal with a security breach?

Risk management depends a lot on the type of business you want to have. However, be sure to consider insurance, backup systems and security systems, just to name a few.

A small business start up checklist is mainly composed of all these things. However, it is also important for you to be meticulous. Nothing is too small to take notice of when it comes to running your own business. Your business may still be small now; but given the right management, it will soon grow to be large and prosperous.

Get your FREE access to the success secrets of the world’s richest and most successful business people. Discover the 7 vital traits of successful entrepreneurs now and take the self-assessment quiz, audio, and video - for free - at http://www.expertpersuader.com/successupgrade.


Related Blogs

    March 21, 2010 | Filed Under Small Business Start Up | Leave a Comment 

    Where to Find the Elusive Small Business Start-up Money for Women

    If you are a woman small business owner looking for money to start up your business, I bet you’ve probably noticed how hard it is to find. Haven’t you?

    If you’ve been having difficulty finding all those mythical millions—nay billions—of funding opportunities for women, join the crowd. Thousands upon thousands of women search the Internet each month looking for small business start-up money, and tens of thousands of women give up, feeling frustrated, disheartened, and baffled by money-promising scam sites which lead nowhere.

    The fact is that the start-up money is not there. At least, not the way it used to be. However, don’t give up hope!

    Funding opportunities for women starting up small businesses do exist. You just need to know where to look.

    Three Places to Find Small Business Start-up Money

    1. Visit www.grants.gov to find out if your business purpose fits within federal grant guidelines.

    On this site you can find and apply for a number of federal grants. For small business start-up loans, grants.gov redirects you to SBA.gov. That’s because the federal government works through agencies like the SBA when funding money for small business start-ups.

    2. Search for information on the Small Business Administration’s website, www.SBA.gov.

    This is an excellent site for all your small business needs. Plus, as a bonus, there are many local SBA offices around the country where you can go and talk with a real live person.

    a. Finance Start-up page: http://www.sba.gov/services/financialassistance/grants/index.html

    This page gives a list of grant and loan programs, though not the grants or loans themselves.

    b. Local Resources: http://www.sba.gov/localresources/index.html

    On this page, you can search for your nearest SBA.

    3. Contact the Rural Development Administration (USDA RDA) if your business is in a rural area: http://www.rurdev.usda.gov/

    The RDA provides assistance to businesses starting up in rural areas. Assistance usually comes in grant-loan combos, or just low interest loans.

    Five Strategies for Finding Small Business Start-up Money

    1. Take advantage of any assistance or information offered to small business owners by your state, county, or city government.

    2. Ask owners of similar businesses how they funded their start-ups.

    3. Look for larger companies, organizations and foundations that share your purpose.

    4. Consider a loan-grant combo.

    5. Google: “small business start-up grant”, + “your type of business”.

    If you are a woman small business owner looking for money to start up your business, you’ve probably noticed how hard it is to find any. Money for starting up businesses is hard to come by, especially if you don’t know where to look. If you’ve been searching to no avail for small business start-up money or have thrown up your hands in frustration because of all the scam sites that lead nowhere, hang on. Don’t give up yet! Funding opportunities for women small business owners do exist. Follow the information and links in this article to discover how and where you can get funding for your small business start-up.

    Dr. Susan L. Reid brings the gift of inner vision and insight to spiritually conscious businesswomen ready to run their business confidently, effectively, and fully aligned with their deepest inner principles. If you’re finally ready to own a business you truly love, then get instant access to your own free copy of “Turn Your Business Dreams Into Reality Toolkit.”


    Related Blogs

    March 21, 2010 | Filed Under Small Business Start Up | 1 Comment 

    Credit Crunch Affecting Small Business Lending Leads Small Business Failure

    According to statistics, more than half of America is employed by small business owners and these owners rely on credit. Not just credit to expand business or purchase a new cash register, but credit in order to make payroll. Now that tough financial times are here, banks are not as giving as they once were. Banks are changing their standards on <a rel=”nofollow” onclick=”javascript:pageTracker._trackPageview(’/outgoing/article_exit_link’);” href=http://www.zootweb.com/additional_information/small_business_lending.html>small business lending</a> , making it hard and at times impossible for small businesses to get financing.

    A Majority of Banks Are Changing Their Small Business Lending Standards

    Most small businesses agree that even in the last 6 months they have felt the affects of the credit crisis. The problem is the domino affect of this crisis: since banks don’t have money to lend, small businesses cannot borrow money to expand, pay bills or payroll- which then affects employees of small businesses.

    Franchises of larger businesses are also feeling the pinch.

    Rescuing Starts at the Top No Immediate Assistance for Small Businesses

    Since the government is concerned with helping the big players first, small businesses can’t get the immediate help they need. The government can’t realistically help out every small business in the ways they are assisting big businesses right away. Time is money of course and small businesses lose more than larger businesses every day that they can’t get financial assistance.

    Without Small Business Lending , Small Businesses Make Sacrifices

    Because there isn’t the normal financial cushion helping businesses have a little wiggle room, all expenses must be taken into consideration. This may include cutting big expenses in a small company. This sadly, may include:

    EmployeesHealth Insurance Moving Full Time Employees To Part Time Positions Cutting bonuses or severance pay

    If you are like many, who wanted to start their own business and haven’t yet, it may be wise to hold out. Taken into the consideration that 98% of all brand new start up businesses fail, you may just want to hold onto that money a bit longer, until things sort them selves out. Otherwise, if you are ready to take the plunge and nothing is going to hold you back, take your friend’s advice, listen to other small business owners and seek out investors that you trust. Looking for small investors over banks me be intimidating, but the investor may see the potential that other banks who are skittish already may not.

    About the author: Melissa Peterman is a web content specialist for Innuity . For more information regarding small business lending , go to ZOOT


    Related Blogs

      March 21, 2010 | Filed Under Small Business Statistics | Leave a Comment 

      Small Business Opportunity - Painting Dazzling Stars on People’s Ceilings

      Painting stars on ceilings is probably the world’s easiest and most profitable painting businesses there is to start. if you are looking for a genuine small business opportunity that offers instant income whenever you need it, this is it.

      It is called star mural painting and it is all about turning people’s bedroom ceilings into a night time planetarium of stars. It is possible to earn hundreds of dollars for each ceiling you paint all for just a couple of hours of pleasant work. This makes it the world’s easiest painting business.

      As a matter of fact anyone who is a teenager or even 70 years old could easily own and operate their very own star mural painting business. The average star mural takes less than an hour or two to complete and goes for around $250.

      Just think if you did two star murals per day for a whole week? You could earn $2,500 - $3,000 in just one week! This is professional income and your market is endless as well.

      More advanced star scenes that can increase your profits per job include shooting stars, small galaxies, UFOs, space battles, the Milky Way, etc.

      The market is unlimited due to the fact that just about everyone loves the thought of sleeping under the night time sky and most people have several bedroom ceilings in their home. Many homes now have game rooms or home theater rooms also.

      A star mural ceiling is invisible during the daytime but at night the stars magically come to life when the lights go out. This gives the illusion of actually sleeping under the stars outdoors.

      My wife wouldn’t part with our bedroom ceiling. It has the Milky Way stretching forth across the night sky plus several of our favorite constellations that are seen all night long.

      Can you imagine what kids would think if they saw a ceiling like this? Do you think they would want one just like it? How about mom and dad? Some people like the idea of stars on their bedroom ceiling because they find it to be romantic.

      Again, a basic star mural costs about $250 on average and will only take someone an hour to two hours to complete. A highly-detailed star scene can be sold for a thousand dollars or more.

      The best way to get good at creating stars on ceilings is to get good at making your own demo posters to show to interested people. Seeing is believing and once they see one of your posters they will eagerly write you a check then and there on the spot.

      A great way to start is with children’s rooms. As you get better at making these amazing star murals you can do more advanced star scenes for teens and adults and charge premium prices.

      Also, star murals can be created during the daytime and offers you a chance to make as much as $2,500 - $3,000 per week and MORE working just part-time hours. Again, this is one of the easiest and most profitable small business opportunities to start.

      Lee Cusano has owned his own successful painting business for over 16 years. He has also helped many others to start their own painting businesses. To find out more about the Small Business Opportunity - Painting Stars on Ceilings and to get my Free report titled “How to Make $250 - $500 a Day Showing an Amazing Poster to People” go to http://star-mural.com


      Related Blogs

      March 21, 2010 | Filed Under Small Business Opportunities | Leave a Comment 

      Top 5 Tips For A Small Business Start-Up

      Copyright (c) 2009 Dr Mark Yates

      Economists are gracing our TV screens and newspapers proclaiming that the current economic downturn has finally bottomed out, and that we are about to turn the corner of the current credit crunch.

      Irrespective of this opinion, in times of business hardship a great many opportunities for existing and aspiring business entrepreneurs manifest. The opportunity has never been greater for a small business start-up to grow exponentially.

      Top 5 Tips For A Small Business Start-Up #1- Research Your Market

      Business research has never been easier. Nowadays you can conduct most of your market and competitor research from the comfort of your own home or office computer. Online search engines are your best friends and although I advise caution as to complete accuracy of information, they do offer you a valuable insight.

      Conduct a small business review. Identify your competitors and then use Google and other search engines to identify your competitors marketing campaigns and how much they are investing in targeting their online customers. Although online marketing doesn’t include conventional marketing, it does offer a fantastic insight into your competitors business modus operandi.

      Top 5 Tips For A Small Business Start-Up #2- Formulate A Strategic Business Growth Plan

      Don’t confuse a strategic business growth plan with a conventional business plan. A conventional business plan is generally required when you are looking for some kind of business finance, i.e. a bank loan or external investment. In reality most business owners park their business plan in a dusty cupboard never to be seen again after they have secured their finance. A strategic business growth plan is a much more pro-active working document that should form the foundation of your business growth. The initial foundation stone of this plan is a small business review ideally produced by a proven business growth consultant. This small business review can usually be produced quickly without spending a small fortune.

      It should by definition include how you intend generating business, how you will take a share of your competitors business, how much you intend to turnover weekly, monthly and annually, how much your gross and net profits will be. It should also include financial forecasts and profit and loss data.

      Two of the most critical issues to address when working with your strategic business growth plan are that;

      1. The plan should include key performance indicators or KPI’s as they are known in the business world.

      2. The plan should be discussed and analysed by the MD or business owner weekly, followed up by a much more in-depth discussion which should take place every month with the MD, owner, directors, partners, shareholders, investors and senior managers to ensure the KPI’s are being met.

      On the basis that very few Small Business Start-Up will have such a corporate hierarchy, you should rely on external or outsourced business support partners to assist. (See top tips for a small business start-up #3 for further information on the right business partners.)

      Top 5 Tips For A Small Business Start-Up #3- Find The Right Business Partners

      A small business start-up generally lacks the expertise and resources that a medium or large business usually maintains. This means that for the managing director owner of a small business start-up, he or she occupies the loneliest position in the entire business world. It is for this reason that I advise retaining the right business partners. Initially you should appoint a proven business consultant, don’t be confused into thinking this business consultant has to specialise in your particular type of business. Although there are a few business consultants who do specialise in one particular type of business, a very high percentage of business consultants are classed as business generalists.

      Obviously if your research identifies a business consultant who specialises in your industry, then that’s a bonus. However I advise that it is more important to appoint a proven business growth specialist as the first of your right business partners. If you appoint a proven growth specialist then he or she will have extensive contacts who can step in and out of your business as and when required without you having to pay full time salaries and executive benefit packages. Your business consultant will want to produce a small business package and a small business guide designed to encourage other business heavy weights to join your business on a part time retainer basis. Investing the time and money to produce this small business package and small business guide will provide far more value than cost.

      Effectively your right business partners will be your very own part time low cost board of directors, an asset that many small business start-ups fail to capitalise on.

      Top 5 Tips For A Small Business Start-Up #4- Never Step In The Ring Unless You Can Win

      Never step in the ring unless you can win is based on the premise of having adequate financial resources. If you enter the business arena as a small business start-up without sufficient funds to get you through the first 12 to 18 months, you will seriously struggle to achieve business success and long term business sustainability. This is one of the main reasons why such a very high percentage of UK small businesses fail within the first 12 months. Appointing your right business partner i.e. a business growth consultant should bring an external source of financial expertise into your business on an as and when required contractual basis. Cash flow is key to any small business start-up for achieving good annual turnover and great profit margins.

      Top 5 Tips For A Small Business Start-Up #5- Attack The Market

      You’ve formed your own small business start-up, appointed your right business partners now you need to attack the market. Proactive business thinking will always lead to greater annual turnover and a healthy profit ratio. When I say attack the market, I am not being melodramatic. Business, real business is a war, and most wars are won before a battle commences. Being reactive in business will not win the war. Reactive business owners are destined to a live of mediocre business gains.

      I only advocate attacking the market when you have integrated the first 4 of the top 5 tips for a small business start-up.

      Implementing these top 5 tips for a small business start-up will give you a definitive edge over your counterparts who are also starting their own new business.

      Dr. Mark D. Yates The International Business Growth Consultant grows businesses fast in a long term sustainability method. His dynamic business model delivers exponential growth, increased turnover & profit margins. He delivers his business support to small, medium & large businesses in 42 countries. Want to claim his FREE business case files, then visit him at =>http://www.businessconsultancyonestopshop.com or e-mail him at drmarkdyates@aol.com


      Related Blogs

      March 21, 2010 | Filed Under Small Business Start Up | 1 Comment 

      « Previous Page — Next Page »