Checklist for starting a business

Checklist for starting a business
by: Matt Bacak

Use this comprehensive checklist to plan each step of your new business and transform your dream of entrepreneurship into reality. These steps may not necessarily be completed in the order listed; however, you can use them as a guideline for completing all of the necessary business startup tasks.
- Determine what kind of business you want to start.
- Learn about the industry for your business.
- Analyze the market for your business.
- Study your competition.
- Educate yourself on running a business.
- Join trade associations.
- Name your business.
- Perform a trademark search.
- Register a domain name.
- Design a website.
- Obtain a logo.
- Determine business structure (sole proprietor, partnership, or corporation).
- Evaluate your personal budget.
- Write a business plan.
- Write a marketing plan.
- Locate financing.
- Create a list of start-up supplies with budget.
- Set up a system for accounting and payroll.
- Apply for business license, fed tax ID, fictitious business name.
- Select a location and set up shop.
- Order signage.
- Obtain business tools (computer, printer, fax, postage, office supplies, and fixtures).
- Order business stationery (business cards, letterhead, brochures).
- Obtain inventory.
- Create an operations and employee manual.
- Hire employees.
- Set a launch date.
- Plan a grand opening event.
- Send announcements to everyone you know.
- Send press releases.
- Turn on the OPEN sign!
- Revisit your business plan and update often.
- Evaluate your marketing strategy often.
- Prepare a realistic business plan.
Think of this as your business road map. Define exactly where you want to get to with your business and then you can effectively map out your path towards achieving your goals!
By creating a detailed business plan you should cover all options and eventualities and have a clear future vision that will guide you through the rest of the start-up processes.
- Your business plan should encompass the financial considerations of starting your small or home based business:-
Do you have the capital required?
Do you need to raise additional funds?
Who are you going to approach for finance?
Who do you trust for advice?
And don't forget to open a business bank account…
- Consider the legal implications of becoming a business owner and proprietor.
Are you better off as a sole trader, a limited company or are you considering a partnership?
Make sure you consider all the angles and protect yourself and your assets personally from the outset.
Anything you bring to the business has to be itemized, valued…even if you're a sole trader.
And make sure you are professionally covered with the appropriate business indemnity insurances.
- Get your family and friends behind you from the get-go.
Make sure your family and friends are fully understanding and supportive of your ideas to venture into small business start-up.
Do they understand the level of commitment you will have to show for on-going and long term success?
Their belief in you and continued support of you will work wonders towards your on-going success, so don't forget to look out for them too.
- Protect your family, protect your business.
If, God forbid, something were to happen to your health, how would your business survive, how would your family cope?
Consider insurances - from health, critical illness and income protection insurance to life insurance - and consider your pension and long term financial security.
- Face those 'taxing' questions from the start.
Your small or home based business has to consider its taxation situation.
Do you need to register your business for sales tax purposes; have you informed your tax office of your business's inauguration?
Do you have a good tax professional lined up to guide and assist you?
The bottom line when it comes to taxation is that from the outset you need to make sure your papers and books are in order, this will save you time, money and heart ache in the long run.
- Prepare realistic and achievable goals and targets for your first year.
Do not expect to conquer the world with your first year's business returns.
Starting a business is a life changing undertaking and one you must be patient with. The rewards are there, but make sure you set yourself achievable targets - when you reach them they will give you the confidence and satisfaction to set new goals and to continue building your business' success.


About the author:
Matt Bacak became "##1 Best Selling Author" in just a few short hours.
Recent Entrepreneur Magazine’s e-Biz radio show host is
turning Authors, Speakers, and Experts into Overnight Success Stories.
Discover The Secrets http://promotingtips.com

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7 Simple Steps To Profit Without Your Own Product

7 Simple Steps To Profit Without Your Own Product
by: Clifford Mee

Most people do not succeed on the internet because they are selling products no one desperately wants.

If you want to be truly successful sell only things that people really really really want to buy!

Sounds simple? It is.

You only need to find out what people desperately want and then give it to them.

Unfortunately most people online (and offline) are ignoring this basic fundamental law to sales success.

So without further ado, just follow this 7 step system to profits even if haven't made a dime online yet....

1. Go to Ebay's 'Hot Item Forum' and find out what products and services are selling well.

2. Find a local wholesaler who sells the products or services that are selling well on Ebay who doesn't already sell on Ebay (most won't be)

3. Ask them, "If I was able to move X amount of units of your product, what percentage of your profits would you share with me?"

4. If they are interested and are willing to give you a decent share of their profits, get them to sign a Non-Disclosure Agreement and a Joint Venture Contract. They are both simple documents that you can find and download from the Internet.

5. Arrange shipping with the company. Ask them to dropship the products to the people who have purchased from you on Ebay. (If they won't do this get them to ship pallets of the product to you for you to do the shipping.)

6. Get them to provide you with a complete list of their in-stock inventory. You'll then be in a position to offer related products to any ebay customers who purchase from you as extra backend sales. Just make sure you agree a good profit percentage on each backend product with the company.

7. Advertise the products on Ebay and rake in the cash. If you are a complete Ebay newbie or you have very limited time, go to the 'Easy Trading Assistant' homepage to do the selling for you if necessary.

This is a proven, simple, elegant formula for anybody with a few spare hours a month to make good profits online. It requires zero technical knowledge and even a complete newbie can get started immediately.

It only requires some surfing of Ebay & the Internet followed by a few phonecalls to some wholesalers. The rest is child's play. In fact you can even use the Ebay Trading Assistant to do the selling for you. (They would take a small cut of course).

Remember on Ebay the shipping cost is a standard extra that the bidder pays, so you should have no problem negotiating with the wholesaler a fair price to do the shipping for you.

The most important factor to increasing your income is to launch what I call your own little 'oil wells' which bring you in cash like clockwork. The above system shows you how easy this is to do.

A fantastic resource for this simple system is available at http://www.hotitemfinder.com/cliffsfriends


About the author:
Clifford Mee is an author, internet marketer, hypnotist and success life coach. If you want to discover little known 'battle tested' strategies to persuade more customers to spend more money more frequently, then please visit his main website at http://www.marketingpersuasion.com

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An Exporter? Who, Me?

An Exporter? Who, Me?
by: NC

(NC)—If you're a small- to medium-sized business with a potential market for your product abroad, you may profit from making a move into exporting.

Your first reaction may be "Me, an exporter?" but it isn't as farfetched as you may think. Even if your company is relatively small, there may be a market for your product or service outside of Canada. In fact, 90 per cent of Canadian exporters have annual export sales of less than $1 million. What's important is having the right product or service, a commitment to succeed, and a sound strategy.

The best export strategies are built on the foundation of an up-to-date and comprehensive business plan. If yours isn't as current as it should be, you might consider refining it with the help of the resources offered by BusinessGateway.ca. Located at www.businessgateway.ca, this Web site provides lots of free tips, advice and tools, all related to starting, running and developing your business.

Take your business plan, for example. It should enable you to:

• identify the strengths and weaknesses of your company;

• establish your objectives and strategies, and analyse your company's performance with respect to them;

• determine your cash needs so you can approach banks and investors with confidence; and

• communicate your intentions to employees and investors.

If your plan falls short in any of these areas, check out the free, Interactive Business Planner, located in the Tools section of the site. It covers everything your plan will need, including:

• identifying the types of information required in your plan;

• locating information on basics such as marketing and costing; and

• preparing financial projections for your business.

Once you're satisfied with your business plan, you can return to the Tools section and use the Interactive Export Planner. It's similar to the Business Planner, but also covers issues such as:

• adapting your products or services to a foreign market;

• getting an overview of the targeted export market;

• creating a market entry strategy and an export implementation plan; and

• preparing financial plans related to the targeted export market.

And don't forget to use the Exporting link on the BusinessGateway.ca home page. It will point you to other essential sources of information that can help your company find business opportunities around the world. Once you take the leap, you may discover that export success is a lot closer than you ever imagined!

- News Canada

About the author:
News Canada

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Why Start Your Own Work At Home Business Opportunity? Here's Why!

Why Start Your Own Work At Home Business Opportunity? Here's Why!
by: Jeff Schuman

Would you like your own work at home business opporutnity?
People choose to work from home for several reasons including
the desire to stay home with their children, the need for extra
income, or simply being dissatisfied with their current job. A
home-based business will provide you with an exciting way to
earn money and be your own boss. Numerous opportunities are
available to internet marketers.

When getting started working at home with your own home business
you should develop a business plan and research your options
thoroughly. Making wise decisions and following your business
plan each step of the way can help you in creating a steady
stream of income. Operating a home-based business will require
hard work and effort. You will not become wealthy over night. It
will take determination to succeed as an internet marketer. The
amount of money you make will be directly related to the amount
of work you are willing to do.

When making your business plan, include both short and long term
goals. Determine how you will achieve those goals and put your
plan into action. Affiliate programs are excellent home-based
business programs and there are numerous other internet
marketing offers that will create steady income if you are
willing to make the effort. Some of these opportunities may
require an initial investment from you and others are advertised
as free. Research all internet marketing opportunities carefully
to make sure you understand the terms and conditions.

Working At Home When working at home online, you will have to
distinguish yourself from the competition if you want to
succeed. You should know your target audience and know your
competition even better. Do not let self-doubt stop you from
accomplishing your goals. Every successful internet marketer
gives their business the very best effort possible. Hard work
and determination will make your work at home business a success
and provide you with a steady stream of income.

Working at home is one of the most exciting and challenging
endeavors you will ever undertake. A sound business plan and the
will to succeed will set you apart from the competition. Choose
the products or services you provide carefully. Make certain
your services will be needed over the long term and make
customer service your top priority. A loyal customer base is the
key to the success or failure of your home-based business.

Working at home with your own business is an excellent way to
gain independence and financial freedom. A sound business plan
and a strong work ethic are all it takes to succeed. The perfect
work at home business is the Plugin Profit Site.



About the author:
Team-Schuman.com contains the best make money online and make money websites available today. If you want to make money check us out here:
http://www.team-schuman.com/workathome.html

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Finance Your Small Business: So Much Money – So Little Time

Finance Your Small Business: So Much Money – So Little Time
by: MaryAnn Shank

$37.4 million funded from venture capital today. $86.4 million funded yesterday. $51.4 million funded the day before.

These numbers are not made up. They are actual numbers from actual reported venture capital funding. I get these notices emailed to me day after day, rain or shine.

I’m not personally looking for business financing – but the entrepreneurs who read my website are. These numbers are a constant reminder to me that companies – lots of companies – are getting funded every day.

And these numbers just reflect the reported venture capital funding. There is probably double that amount from angel investment and unreported fundings, and millions more from the $16 billion pool that SBA has this year.

All in all, it’s a lot of money. That’s a lot of companies and banks and groups and individuals actively investing in small business.

So how come you’re still looking for financing?

Perhaps you aren’t presenting your company effectively.

Or perhaps you haven’t located the right lender.

It’s also possible that your concept just isn’t very good, but I doubt that. The fact that you are reading this article means you are a serious entrepreneur, with a serious business.

So where do you go to find all these investors? Here are some starting points:

For standard business financing, talk with the local office of the Small Business Administration.

It’s a new agency, with new programs and services, and lots of money to lend. Although much of the focus of the SBA is on minority business enterprises, the SBA still has a lot to offer non-minority companies.

Also talk with your local banks. (That was plural “banks”, not “bank”.) Talking with a number of local bankers will rapidly bring into focus the wide ranging priorities of the various banks, and where your company fit in.

As for venture capital and angel investors, there are several options.

One option is to go to online sources. There are a number of online services, such as VFinance, that sell the names and addresses of possible investors. It’s not expensive, perhaps $2-5 per name. The idea is that once you get the list of 200 or 2,000 names in hand that you will contact each with a written executive summary or business plan, and then wait to hear from one of them. This is a very passive approach, roughly akin to throwing paint on the wall and hoping that something will stick.
If you are like most entrepreneurs, patience is not your strong suit, so sitting and waiting for a response is not quite your cup of tea.

Another option is to go to one of the many directories of venture capital firms. These directories typically include addresses, phone numbers and emails, along with the geographical areas of interest and the types of investment that each is seeking. Most businesses can narrow down their list of prospective investors to several hundred venture capital firms this way. And again you are faced with the prospect of sending out written material for each one, and waiting for a response.

A third option is to take a more proactive approach. Identify your best prospects yourself from a number of reliable sources. Get introductions where possible. Learn everything you can about your target investors, and then go after it. Typically a phone call is the first contact, not an anonymous executive summary. Knowing that you are calling your best prospects, you know too that they are open to hearing from you. You have names, you have investment histories, you have everything in hand to make a real connection with the target investors. Then go do it.

Getting your company financed is one of the hardest things you will ever do as an entrepreneur. It can be hugely frustrating, disappointing and genuinely discouraging. But lots of entrepreneurs do it. And so can you.

No one knows when this incredible window of opportunity will close Spruce up that business plan and go for it -- now.

MaryAnn Shank
http://www.businessplanmaster.com http://businessplanmaster.blogspot.com
About the author:
Ms. Shank is a business plan specialist. She worked with venture capital firms and emerging companies for over 20 years.

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