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NEW DECADE, NEW OPPORTUNITIES: THE START-UP CHECKLIST for YOUR NEW BUSINESS

  Starting a new business from scratch often seems like an impossible endeavor when faced with the amount of time, attention and patience needed for preparation alone.  Rather than rack your brain trying to remember each task, checklists such as this are essential for quantifying and recording the many facets of start-up formation.   The key is to thoughtfully prepare an outline of the Project/Job/Goal you must complete then break it down into small tasks necessary to complete said projects/jobs.

**As time progresses,  links to the various tasks included below will be added to help give further guidance to you, the intrepid entrepreneur! ***

Incubation: Turning your Idea into Action

  • Analyze your business idea by doing a SWOT analysis
  • Assess your strengths and weaknesses as an entrepreneur
  • Establish business and personal goals
  • Assess your financial resources and identify potential sources of funds
  • Identify the financial risks
  • Determine the start-up costs
  • Decide on your business location
  • Do a thorough market research
  • Identify your customers
  • Identify your competitors
  • Develop a marketing plan
  • Prepare a business plan – This should be the sum total of all the previous steps and acts as the outside world’s guide to your business as well as your business playbook.  The business plan is not written in stone and circumstances often require that aspects of the plan change.  The key is having a structure and team that can adapt to those changes.

Operations: Creating Cash-flow System and Establishing Your Team

    Having knowledgeable, experienced professionals guide you in the areas of Law, Accounting, Insurance etc… allow you to focus on the income producing activities in your business.  That income needs to flow in a predictable stream from the consumer to your business while your business delivers a product or simultaneously (or close to). This list will help you pick your Dream Team, as well as install all necessary processes for creating and facilitating your income streams.

  • Select a lawyer and an accountant
  • Join a professional organization
  • Choose a form of organization (proprietorship, partnership, or corporation, for example)
  • Create your business (register your company’s name, incorporate the business, etc.)
  • Select a banker and set up a business checking account
  • Apply for business loans and grants (if applicable)
  • Establish a line of credit (if possible)
  • Select an insurance agent and obtain business insurance
  •  Prepare corporate brochures
  • Build a website
  • Set-up corporate email accounts
  • Get business cards
  • Obtain a lease
  • Line up suppliers (if applicable)
  • Get furniture and equipment
  • Obtain business licenses or permits (if applicable)
  • Get a federal employer identification number (if applicable)
  • Get an employer ID number (if applicable)
  • Send incorporation papers for federal and state/province tax forms
  • Choose a starting date
  • Prepare and deploy your communication/marketing strategy

Keep in mind that this list is not all-inclusive for all businesses.  The massive variety of industries makes it impossible to utilize a “one size fits all” approach to business formation.  Fortunately, Attorney Calabrese has represented a diverse group of extremely successful businesses, and can help you navigate the difficult nuances associated with your industry.  From Nail Salons to Saloons, Calabrese Legal Services can help you form, grow and profit your new dream career.

Call 724-437-3081     OR  CLICK HERE TO SCHEDULE A CONSULT

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